Posts Tagged ‘CBO Report’

CBO Report: ObamaCare To Gut U.S. Growth, Destroy 2.3 Million Jobs, Add Over Trillion To Deficit (Just Like We TOLD You Would Happen)

February 4, 2014

This just in: Democrats are demon-possessed liars who destroyed America during that two-year period when they fascistically OWNED the White House, the Senate and the House (now they merely fascistically own the White House and the Senate, and you’d think they have no power or responsibility at all given the way they blame the House under GOP leadership for basically all the hell that has resulted from Democrat rule).

One of my very favorite Democrat-Obama lies from hell is actually one of the earliest: the lie that it was BUSH who somehow drove up the deficit in the year AFTER he left office and Obama has been reducing it ever since.

Here was one of my earlier responses to that one:

That is such bullcrap it is beyond unreal.

It is your assertion that it was President Damn Bush who passed the $862 billion stimulus on February 17, 2009 is it?

It is your assertion that it was President Damn Bush who did that $79 billion bailout for Government Motors and their union Democrats in 2009?

It is your assertion that it was President Damn Bush who signed that $410 billion Omnibus bill in March of 2009?

It is your assertion that it was President Damn Bush who left $350 billion in TARP money to President Damn Bush who spent it in early 2009???

It is your assertion that it was President Damn Bush who rammed that damned $2.6 trillion ObamaCare – Ooh, I’m sorry, GorgieCare bill – down our collectivist throats?

It’s really amazing to me what a lousy bunch of Marxists you liars truly ARE.  Obama passes all these things, takes credit for them, but when it’s time to be financially responsible for his own damn bills it’s more “Bush did it! Put all the garbage I did and took credit for on Bush’s bill!!!”

George Bush actually HAD a budget for FY-2009.  It was of course decried by you cockroach Democrats for its CUTS.  It had a deficit of $400 billion, you lying weasel.  And It didn’t have any of the above crap that you seem to think Bush was responsible for.

Obama cynically and ruthlessly exploited the technical fact that most of a new president’s first year is under the budget of his predecessor to LOAD UP THE DEFICIT in 2009.  Obama BLEW UP the deficit, which had been $10 trillion under Bush and is now well over $17.3 trillion.  Bush added over $4 trillion to the deficit over eight years, which of course was bad; Obama is on pace to more than TRIPLE that such that he will add over $12 trillion to our unpayable and unsustainable deficit before he leaves office in disgrace.

Even the liberal Washington Post fact checked that and gave it the Liar-in-Chief the maximum number of Pinocchios for his lie.  But like Hitler, Obama merely keeps telling his “Big Lie” over and over and over again.

Of course, our true debt is way north of $225 trillion now.  America is doomed.  It WILL collapse under the weight of Democrat debt.  And please don’t be so stupid and so depraved not to realize that 99.9 percent of all our debt has come from DEMOCRAT programs such as Social Security, Medicare, Medicaid and now ObamaCare that just exploded federal spending far beyond the realm of sanity.  And the night before it all goes to hell, the media talking heads will be assuring you that everything will be fine.

Also, of course, the Demagogue-in-Chief has been so blatantly dishonest and hypocritical about the debt ceiling that it is beyond amazing.  That’s the man’s style.  Lie, lie, lie – and then demonize his opponents when the truth finally emerges.

And, of course, we’re only now BEGINNING to see just how truly awful and truly evil ObamaCare truly is.

Please understand that this latest CBO report STILL doesn’t even begin to scratch the surface as to how simply godawful ObamaCare will be to America.  Remember when it passed, laden with budget gimmickry designed to lie to the American people so they wouldn’t have any clue how demonic this piece of fascist garbage law truly would be?  They reported that ObamaCare would be “deficit neutral.”  And then the budget estimates just kept getting worse and worse as time passed.  Do you think now, with the ObamaCare monster only one-third out of its hellhole, that they’ve figured out how truly bad it is yet???  Not even CLOSE.

The UPI  article reporting on the latest ObamaCare fiasco today implicitly points out how truly bad the CBO has been in estimating the damage of ObamaCare:

WASHINGTON, Feb. 4 (UPI) — The White House Tuesday disputed claims a Congressional Budget Office study concluded the Affordable Care Act would cost millions of U.S. jobs.

The CBO study — which also said the ACA is projected to reduce the federal deficit by more than $1 trillion in 10 years — said the healthcare reform law is expected to reduce employment by about 2.3 million jobs during the same period. The new estimate nearly triples the previous CBO estimate of 800,000 jobs that the Affordable Care Act, aka Obamacare, was to have cost the economy, the Hill newspaper reported.

The law is expected to slow the economy and cause many people to leave the workforce, the impact being felt mostly by low-wage workers, the Washington Post said.

From “this fascist ObamaCare takeover is going to wipe out 800,000 jobs” to “this Nazi ObamaCare law is going to destroy 2.3 MILLION jobs.”  You almost get the sense that panicked CBO economists are desperately throwing darts at a board to try to get their hands on some kind of number to relay just how catastrophically horrible this thing is going to be.

I remember Nancy Pelosi boasting that her messiah’s ObamaCare would create 4 million jobs, with 400,000 jobs occurring immediately.  That depraved, dishonest witch ought to be in PRISON right now for her crime of lying to the American people.  Just like her false messiah Obama ought to be in prison right now.

The Washington Post piece on the CBO bombshell of the fascist ObamaCare takeover of healthcare also underscores the CBO’s inability to comprehend just how bad this lawless “law” truly is:

The Affordable Care Act will reduce the number of full-time workers by more than 2 million in coming years, congressional budget analysts said Tuesday, a finding that sent the White House scrambling to defend a law that has bedeviled President Obama for years.

After obtaining coverage through the health law, some workers may forgo employment, while others may reduce hours, according to a report by the Congressional Budget Office. Low-wage workers are the most likely to drop out of the workforce as a result of the law, it said. The CBO said the law’s impact on jobs mostly would be felt after 2016.

Republicans quickly pointed to the report’s findings as more evidence of the health law’s flaws, one of their major themes ahead of this year’s mid-term elections. Republicans see the Affordable Care Act as a political boon this year, after the disastrous launch of the law’s Web site last fall.

The CBO report said those rocky beginnings of the federal online marketplace would suppress enrollment this year, though not in the future. The agency predicted that the number of Americans who buy private health plans through the new insurance exchanges before a March 31 deadline for coverage in 2014 will be 6 million, while the number of low-income people who join Medicaid this year will be 8 million.

Both figures are one million fewer people than the CBO had forecast the last time it issued such a prediction, nine months ago.

Off by a million people in only nine months.  Because after all, what’s a million people between friends?  It’s kind of like Obama’s totalitarian big-government socialist buddy Joseph Stalin put it: one death is a tragedy; one million is a statistic.  Under messiah Obama, we’re all just “statistics” now.  And, of course, as the next Democrat president would have  you believe, “What difference does it make?”

But you see how the estimates just keep getting worse and worse???

Notice the description of the moral hazard of people who will simply abandon TRYING to get a low-wage job and simply skate on the dole with their free Medicaid.  This was a job-destroying act in every possible way you can slice it.

Barack Obama is the worst liar and the most amply DOCUMENTED liar in the history of the United States.  If he says good morning, the man is lying.  President “If you like your health plan you can keep your health plan.  Period.  End of story” has proven that.  A pit viper has more credibility than Obama and is far less dangerous to your health.

Take a trip down memory lane.  Conservatives have been ACCURATELY PREDICTING exactly what has happened under ObamaCare.  And Democrats viciously and rabidly demonized us in every way imaginable for telling the thing they hate the most – the TRUTH.  Because if you are a Democrat you hate the truth and call people who tell the truth “racist.”

People like me tried to warn America.  But the American people overall have become ignorant and depraved and frankly pathetic.  I think of Nazi Germany and a man who tried to warn that nation:

I am writing this from cell 24. Outside a new Germany is being created. Many millions are rejoicing. Hitler is promising everyone precisely what they want. I think when they wake to their sobering senses, they will find they have been led by the nose and duped by lies.”

That’s YOU, America.  YOUR country has been “fundamentally transformed” by the very worst kind of liar.  By the time most of you people finally wake up to your sobering senses, your country will have imploded under the weight of its own debt and moral stupidity and you will have nothing.  And of course what will you do?  Being wicked, you will keep rejecting the God whom you have already rejected with your love of abortion and sodomy and you will instead put your trust in total socialism.  And that’s when the beast prophesied in Revelation will come to finish the job Obama started.

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Can’t Handle The Migraine From Reading The 165 Page CBO Report? Then Read This Nutshell Version.

February 4, 2012

This These New Times piece is simply excellent:

CBO Report: OMG!

The Congressional Budget Office (CBO) is out with its annual report. It’s a blockbuster. This 165 page monster is filled with dozens of charts, graphs and detailed projections. It will be talked about for weeks. The report provides a dismal outlook for the economy. There is one data point I’d like to focus on.

Here is the CBO forecast for real GDP for 2012 and 2013:

The 1.1% Real GDP number for 2013 surprised me. The CBO’s expectations are way under those of both the “Blue Chip” economists and the Federal Reserve:

What does it mean if the economy is going to slow, as CBO now thinks? Some consequences:

The CBO now forecasts Social Security to run into trouble in just a few years. This is a very substantial change in the outlook for SS. Changed fortunes make it a certain that America’s favorite entitlement program will be on the table for a significant re-vamp.

The CBO has answered two critical question:

1) In what year does SS first goes into deficit (including interest)?

2) What is the size of the SS Trust Fund when #1 has been achieved?

Key data is here:

Using this information, we can estimate the Trust Funds (TF) balances over time, and compare them to what SS forecast in its report to Congress ten-months ago:

 
SSTF’s “Intermediate” (Base) case:
 

The bottom line is that the SSTF is going to top out three years ahead of “schedule” and be $800B shy of what it was “supposed” to be.

I think the CBO report has created a big headache for a good number of folks in D.C. Most of them are running for office this year. They certainly won’t be able to wave the CBO report as a measure of how well they are doing.

 

You can get an even more concise synopsis from my article here.