Over the past week, President Obama has been on the road making an appeal to young Americans, offering a sales pitch on lower interest rates for their burdensome student loans. What he didn’t mention, though, is the even bigger nightmare they’ll face down the road. The president’s meme is one that USAToday picked up on this morning, describing the plight of Millennials, their piles of debt, and their high rate of unemployment: Today’s twentysomethings hold an average debt of about $45,000, which includes everything from cars to credit cards to … More
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By Michael F. Cannon
(This blog post first appeared at Cato@Liberty following the release of the 2006 Medicare and Social Security trustees’ reports. I repost it, with updated links and “exhaustion dates” because sadly nothing else has changed.) Sometimes, Governments Lie Year after year, federal officials speak of the Social Security and Medicare trust funds as if they were [...]
Sometimes, Governments Lie (6th Anniversary Ed.) is a post from Cato @ Liberty – Cato Institute Blog
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On September 8, 2011—well after the enactment of Obamacare—President Obama told Congress: “Millions of Americans rely on Medicare in their retirement. And millions more will do so in the future.… But with an aging population and rising health care costs, we are spending too fast to sustain the program. And if we don’t gradually reform the system while protecting current seniors, it won’t be there when future retirees need it.” The just released 2012 Medicare Trustees report reinforces the need for serious reform. But seniors and taxpayers alike should keep … More
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By Michael F. Cannon
In today’s Wall Street Journal, Alan Blinder writes one of the most error-ridden and discourse-debasing op-eds I have ever read. About any topic. Ever. A sampling: [O]ur country was founded on the idea that the rights to life, liberty and the pursuit of happiness are inalienable. Access to affordable health care is surely essential to two [...]
Alan Blinder Owes Me $5 for Wasting My Time is a post from Cato @ Liberty – Cato Institute Blog
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By Michael F. Cannon
Politico has a great story about how free-market groups are defeating ObamaCare Exchanges at the state level: Conservatives like John Graham of the Pacific Research Institute have also been touring states with the platform provided by the American Legislative Exchange Council to help kill off state-based exchanges, a key piece of health reform that will [...]
Politico: Opponents Are Winning the Debate over ObamaCare ‘Exchanges’ is a post from Cato @ Liberty – Cato Institute Blog
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A new poll by Reason-Rupe shows that Americans support the structural reform of a premium support model for Medicare. The current Medicare program has made $38 trillion of unfunded promises to seniors over the next 75 years, and the Part A trust fund is predicted to be bankrupt as soon as 2024. The gravity of Medicare’s fiscal mess makes reform inevitable. With premium support, the government provides a contribution toward the cost of a health plan of the beneficiary’s choosing. Reason states, “For people not yet in the program and … More
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Americans who are scrambling to pay their taxes by Tuesday’s deadline are in store for more depressing news: The tax burden on American families has risen dramatically and will continue to climb into the future without action from Congress. This week’s chart outlines the growth of taxes over the past 45 years. Large tax increases are just months away. Jan. 1, 2013, is already being dubbed Taxmaggedon. Seven existing tax policies will end and 18 new taxes from Obamacare will begin, leading to a $494 billion tax increase at the … More
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President Obama has touted reports from the Congressional Budget Office claiming his health care law would actually decrease the deficit. But due to a bundle of budget gimmicks and other legislation, calculations show that Obamacare actually adds $698 billion to the deficit. This week’s chart outlines each of those budget gimmicks. “This morning a new analysis from the Congressional Budget Office concludes that the reform we seek would bring $1.3 trillion in deficit reduction over the next two decades. That makes this legislation the most significant effort to reduce deficits … More
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By Michael F. Cannon
My latest podcast, “IPAB: ObamaCare’s Next Constitutional Hurdle.” Podcast: ObamaCare’s Most Unconstitutional Provision Isn’t the Mandate. It’s IPAB. is a post from Cato @ Liberty – Cato Institute Blog
Podcast: ObamaCare’s Most Unconstitutional Provision Isn’t the Mandate. It’s IPAB. is a post from Cato @ Liberty – Cato Institute Blog
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By Michael F. Cannon
Last week, I appeared on NPR’s Tell Me More program. My discussion with host Michel Martin gives a good synopsis of why ObamaCare is both harmful to consumers and unconstitutional. Listen to the segment here. For a contrary perspective, listen to former Obama administration acting solicitor general Neal Katyal, who appeared on the program the next [...]
Why ObamaCare Must Go, in Ten Short Minutes is a post from Cato @ Liberty – Cato Institute Blog
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