UNIVERSAL 'OBAMACARE': WILL IT BANKRUPT AMERICA?

A growing chorus of experts is warning  the Obama administration's plan to add 47 million people to the health-insurance rolls may kill hopes for a sustained economic recovery.

Obama's health care plan would follow the $700 billion TARP bailout, the $787 billion stimulus, and a $410 billion,earmark-laden budget appropriation-- at a time when the national debt already exceeds $11 trillion. Such staggering deficits are leading economists to question whether enough investment capital would be left over once the expected economic recovery takes hold.

Any economic recovery could stall or be seriously limited, economists say.Alarms over the cost of the program are sounding just as senators begin a series of discussions on health care.

Democrats hope those discussions will lead to a bipartisan agreement.Republicans contend that any health care reform must be made in a fiscally responsible way.They say that the the Dems' proposals are far from fiscally responsible and will only continue the borrowing and spending trend.

GOP leaders in congress says that spending billions more on health care will hurt job creation during a period of already high unemployment.

In its January report on the budget outlook, the Congressional Budget Office warned that even without Obama's health plan, the double whammy of high deficits and rising health-care costs could throttle the recovery.They concluded that the greatest single threat to budget stability over the long run is the sharp rise in Medicare and Medicaid.

So, you may ask, just how much will health care reform cost?  Until the details are worked out, no one can say precisely. But if the ultimate program resembles at all the one that Obama laid out during the campaign, the price tag will be staggering.Low-end estimates project a cost of $1.17 trillion over the first 10 years of the program-- far more than the $684 billion in Obama's preliminary budget framework.Another estimate, which is figured at a 7% annual inflation rate in medical costs, holds that the plan would cost $6 trillion over the next decade.

The bottom line here, in my opinion and the opinion of many others, is that we can't afford to have the government run anything else in our lives, because it doesn't do it well, and it makes it much more expensive. The economic status of our nation is playing into the hands of a liberal socialist administration who is finding it easy to implement the nationalization it craves.

And to those Obama supporters who voted for the "lollipops & rainbows" promise of universal health care, you're about to get your wish at a steep price, the possible bankruptcy of America. Thanks!!