Bond Market Reflects True Cost of Obamacare

[native]

Today's piece by Michael Barone on Real Clear Politics:

"... in recent weeks U.S. Treasury bonds have lost their status as the world's safest investment. ...Democrats wary of voting for the health care bill may have been soothed by the Congressional Budget Office's report that it would reduce federal deficits over the next 10 years. But bond buyers know that the Democrats gamed the CBO system to get a good score...."

http://www.realclearpolitics.com/articl ... 04913.html" onclick="window.open(this.href);return false;

[Chizzang]

The bill shows that $114 billion in discretionary spending is needed to run the program..!!!

how does anybody vote for that..?

At least Bush was smart enough to lie about what the war would cost and that we'd be out of there in 6 months to get everybody to vote for it...

Jeezus if it says it'll cost $114 Billion to run - that means it'll cost 3 times that much and frankly that's too much

[BDKJMU]

The bill shows that $114 billion in discretionary spending is needed to run the program..!!!

how does anybody vote for that..?

At least Bush was smart enough to lie about what the war would cost and that we'd be out of there in 6 months to get everybody to vote for it...

Jeezus if it says it'll cost $114 Billion to run - that means it'll cost 3 times that much and frankly that's too much

That's one way to stop it then. Refuse to fund it.

[ALPHAGRIZ1]

We cant pay our bills now, we may not have to refuse to fund it..........................

[houndawg]

It's just money, we'll make more........ hell, the system has already collapsed, it's just being kept on life support by the taxpayers. Buy durable goods now, before inflation.........

[Pwns]

The federal government has a magic vault that never runs out of money. Who cares what the balance sheet looks like? Party like it's 1999.

[HI54UNI]

Chizzang and Native -

Don't you know that the CBO has the mostest awesomest forecasts in the world. The CBO numbers can't be wrong. Just ask kyjelly. He'll tell you.

[Chizzang]

Chizzang and Native -

Don't you know that the CBO has the mostest awesomest forecasts in the world. The CBO numbers can't be wrong. Just ask kyjelly. He'll tell you.

Generally speaking:
Political Rules to Live by
1) If one party (Republican or Democrat) is thrilled about something it's probably a horrible thing
2) If both parties are lukewarm and feel like they've conceded too much then we're probably okay
3) Whatever Politician is talking: The more enthusiasm and conviction = the less transparency there is

[native]

Chizzang and Native -

Don't you know that the CBO has the mostest awesomest forecasts in the world. The CBO numbers can't be wrong. Just ask kyjelly. He'll tell you.

Actually CBO is about an honest a broker as you can get. The problem is that they are only allowed to analyze data using the parameters and assumptions they are given, i.e., trash in, trash out as in the Obamcare debacle.

[HI54UNI]

Chizzang and Native -

Don't you know that the CBO has the mostest awesomest forecasts in the world. The CBO numbers can't be wrong. Just ask kyjelly. He'll tell you.

Actually CBO is about an honest a broker as you can get. The problem is that they are only allowed to analyze data using the parameters and assumptions they are given, i.e., trash in, trash out as in the Obamcare debacle.

I have no beef with the CBO. They do what they can with what they are given. But to hear kyjelly this week you would think that the CBO estimate is gospel and will be the reality.

[FargoBison]

Chizzang and Native -

Don't you know that the CBO has the mostest awesomest forecasts in the world. The CBO numbers can't be wrong. Just ask kyjelly. He'll tell you.

Actually CBO is about an honest a broker as you can get. The problem is that they are only allowed to analyze data using the parameters and assumptions they are given, i.e., trash in, trash out as in the Obamcare debacle.

Yep, the CBO is honest, the politicians that craft the bills, not so much.

If the CBO could score the true costs of the bill people's heads would be spinning.

[GannonFan]

Chizzang and Native -

Don't you know that the CBO has the mostest awesomest forecasts in the world. The CBO numbers can't be wrong. Just ask kyjelly. He'll tell you.

Actually CBO is about an honest a broker as you can get. The problem is that they are only allowed to analyze data using the parameters and assumptions they are given, i.e., trash in, trash out as in the Obamcare debacle.

I agree - the CBO isn't the issue, it's just that the parameters they are given to score on are almost always rigged to produce the numbers the majority party wants - and the GOP has abused this process as much as the Dems have.

What's really scary was the projection by the CBO that by 2017 or so we could be at a debt level that would be upwards of 70%-90% of GDP - for a group that typically underestimates things, we may have to go the way of Greece and Portugal and start our own austerity program here.

[houndawg]

Actually CBO is about an honest a broker as you can get. The problem is that they are only allowed to analyze data using the parameters and assumptions they are given, i.e., trash in, trash out as in the Obamcare debacle.

I agree - the CBO isn't the issue, it's just that the parameters they are given to score on are almost always rigged to produce the numbers the majority party wants - and the GOP has abused this process as much as the Dems have.

What's really scary was the projection by the CBO that by 2017 or so we could be at a debt level that would be upwards of 70%-90% of GDP - for a group that typically underestimates things, we may have to go the way of Greece and Portugal and start our own austerity program here.

Lots of us already are, but the politicians are behind the curve, as usual.

[native]

I agree - the CBO isn't the issue, it's just that the parameters they are given to score on are almost always rigged to produce the numbers the majority party wants - and the GOP has abused this process as much as the Dems have.

What's really scary was the projection by the CBO that by 2017 or so we could be at a debt level that would be upwards of 70%-90% of GDP - for a group that typically underestimates things, we may have to go the way of Greece and Portugal and start our own austerity program here.

Lots of us already are, but the politicians are behind the curve, as usual.

QFT!

[CitadelGrad]

C'mon. We have to spend our way out of this recession. It's a tried and true method that has worked with astonishing success in the past.