Wow, you know your attempted nationalization of the U.S. medical system is in trouble when the Chinese Communists realize you can’t do it without exploding the debt.
It turns out the Chinese are kind of curious about how President Barack Obama’s healthcare reform plans would impact America’s huge fiscal deficit. Government officials are using his Asian trip as an opportunity to ask the White House questions. Detailed questions.
Boilerplate assurances that America won’t default on its debt or inflate the shortfall away are apparently not cutting it. Nor should they, when one owns nearly $2 trillion in assets denominated in the currency of a country about to double its national debt over the next decade.
via China questions costs of U.S. healthcare reform.
Or perhaps they’ve just been smart enough to read the U.S. Government’s own analysis, rather than pie in the sky feel goodism from the Hoper-Changer-In-Chief.
For instance, a new study from the U.S. government’s Centers for Medicare and Medicaid Services finds that the healthcare reform bill recently passed in the House of Representatives would increase healthcare spending to 21.3 percent of GDP by 2019 compared with 20.8 percent under current law. That’s bending the curve the wrong way. The study also questions the “long-term viability” of the $500 billion in Medicare cuts meant to help pay for expanded insurance coverage.In addition, the CMS study gives a clearer cost estimate than the one provided by the Congressional Budget Office. According to the CBO, the 10-year cost of PelosiCare is $894 billion. But that analysis includes early years with little government spending, According to the CMS, the House approach would cost $1 trillion from 2013-2019, or some $140 billion a year when fully put into effect.
Or, maybe the Chinese leadership are just more of those mind-dumbed, Glenn Beck following, Tea Party rednecks in ties.
A sign of things to come.
“New U.S. guidelines: routine mammograms start at 50″
http://news.yahoo.com/s/nm/us_cancer_breast_screening
And so it begins.
It’s a sad day in this world when China is the voice of reason.
As a “shareholder”, China has every right to ask why their investment is about to take on a huge amount of debt.
Heard this morning that Ob goes to Singapore touting he is all about boosting the dollar and then shows up in China stating he wants to see their currency APPRECIATE. An appreciated Chinese currencey would indicate a DEpreciated (further) US Dollar due to so much (more) of it being tied up with the Chinese debt. China needs and wants the dollar to be more viable and its a shame that this administration is too ignorant and ill prepared for leadership as to have financial questions asked by a communist regime. Pretty bad when the Chinese look at your socialist bent and say, “DAMN!!!”.