Obamacare Costs Almost Doubles!

Yesterday, the Congressional Budget Office released a new report that showed a new projection for the Affordable Care Act (ACA) (aka Obamacare). Instead of the program costing $900 billion over 10 years, it will now cost the American taxpayers $1.76 TRILLION.

In order to get this bill through Congress, Democrats used many accounting tricks to ram this bill through including the most egregious which delayed full implementation of the law until 2014. This trick was used to get around the standard ten-year budget window used by the CBO. This accounting "sleight of hand" made the program cheaper and met Obama's pledge to keep costs around "$900 billion over 10 years".

In the CBO's own report, it states the following.

Those amounts do not encompass all of the budgetary impacts of the ACA because that legislation has many other provisions, including some that will cause significant reductions in Medicare spending and others that will generate added tax revenues, relative to what would have occurred under prior law.

The cost of this program could continue to rise or Congress could act to make "significant reductions in Medicare spending" to fund Obamacare.


On September 9, 2009, President Obama said this to the Joint Session of Congress and the American people.

Now, add it all up, and the plan I'm proposing will cost around $900 billion over 10 years -- less than we have spent on the Iraq and Afghanistan wars, and less than the tax cuts for the wealthiest few Americans that Congress passed at the beginning of the previous administration. (Applause.) Now, most of these costs will be paid for with money already being spent -- but spent badly -- in the existing health care system. The plan will not add to our deficit. The middle class will realize greater security, not higher taxes. And if we are able to slow the growth of health care costs by just one-tenth of 1 percent each year -- one-tenth of 1 percent -- it will actually reduce the deficit by $4 trillion over the long term.

Nancy Pelosi was absolutely correct. We had to pass it to see what was in it. As we continue to watch as Obamacare continues its implementation, we will soon find out that the cost will far outweigh any benefit and that other programs like Medicare will suffer for it.

For the full report, click here.

For President Obama's full speech to a Joint Session of Congress on health care, click here.

Who's Out of Touch with Average Middle-Class Americans?

Last night, Vice President Joe Biden attended a $10,000 per couple fundraiser at the home of Senator John Kerry in Georgetown. As the 87 wealthy Democrats dined on grass-fed NY strip steaks and white truffle mashed potatos, they listened to Biden go on and on about how the Republicans are so out of touch with the average middle-class American.

“These guys don’t have a sense of the average folks out there,” Biden said, “They don’t know what it means to be middle class.”

Who's out of touch, Joe?

Doomsday Scenario for Banks

The Federal Reserve released its version of financial Armageddon today. In its doomsday scenario for the nation's 19 largest banks, it assumes 13 percent unemployment, a 50-percent drop in the stock market and a 21-percent decline in housing prices.

The results of this financial failure scenario will be released on Thursday at 4:30 PM ET. Although the Federal Reserve conducts these tests every year, this is the first time since 2009 that the results will be made public.

The stress tests are designed to make sure that banks are able to handle a financial meltdown by having enough cash and cash-like securities to withstand the crisis.

Texas Teens Arrested for Allegedly Stealing Money from Girl Scouts

Two teens in Richmond, Texas, are facing aggrevated robbery charges for stealing money from a group of Girl Scouts selling cookies.

18-year-old Justin Roger-Zenon and his 16-year-old accomplice were accused of stealing the cash box from Girl Scouts last weekend. The group was selling cookies outside of a local Wal-Mart. The cash box reportedly contained $200.

The girls chased down the two robbers and one was injured while holding on to the bumper of the getaway car. The girls are being praised for fearlessly chasing down the robbers.

Iraqi Teenagers Being Stoned to Death for Their Haircuts

According to a recently published article by alakhbar, at least 90 Iraqi teenagers have been stoned to death for their "emo" appearances. The stonings have been conducted by religious extremists in Baghdad after an inflammatory statement was issued by the interior ministry. The statement dubbed the "emo" appearance as "devil worshiping".

Iraq's Moral Police released a statement condemning the "emo phenomenon" and declared its intent to "eliminate" the trend. The Moral Police was granted approval by the Ministry of Education to enter Baghdad schools and identify students with such appearances.

Gloria Allred Guns for Rush Limbaugh

Celebrity lawyer Gloria Allred has turned her ire against Rush Limbaugh for calling Sandra Fluke two derogatory words.

In a letter written on behalf of the Women’s Equal Rights Legal Defense and Education Fund, Allred requested that Palm Beach County State Attorney Michael McAuliffe investigate Limbaugh to see determine whether he violated Section 836.04.
Section 836.04 of the Florida State Statutes, any person who “speaks of and concerning any woman, married or unmarried, falsely and maliciously imputing to her a want of chastity" is guilty of a first degree misdemeanor.

Allred represented Sharon Bialek, who accused Herman Cain for sexual harassment, and porn star, Ginger Lee, who exchanged explicit emails with Anthony Weiner.

President Lobbying Against Keystone XL Pipeline Jobs

U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Thursday regarding efforts by the President to lobby Democrat Senators against Senator Hoeven's amendment on the Keystone XL Pipeline:

“Last night the two parties reached agreement on amendments to the Highway Bill. I’m happy to report that there are a number of strong job creating measures in the mix. One that stands out is Senator Hoeven’s amendment on the Keystone XL Pipeline.

“Most Americans strongly support building this pipeline and the jobs that would come with it. And it’s incomprehensible to me that the President of the United States is lobbying against it.

“There’s a report this morning that President Obama is personally making phone calls to Democrat Senators he thinks might vote for this amendment. He’s asking them not to. And, frankly, it’s hard to even comprehend how out of touch he is on this issue.

“I mean, think about it: at a moment when millions are out of work, gas prices are skyrocketing and the Middle East is in turmoil, we’ve got a president who’s up making phone calls trying to block a pipeline here at home. It’s unbelievable.

“What we’re seeing in Congress this week is a study in contrasts.

“On the one hand you’ve got a Republican-controlled House that’s about to pass a bipartisan jobs bill that would help entrepreneurs and innovators by getting Washington out of the way. And today we’ve got a Democratic-controlled Senate trying to line up votes against amendments that would create jobs—and a President lobbying against the biggest one.

“We’ve got an opportunity to work together to create jobs. We can do that with these amendments. And we can do that by taking up the bipartisan jobs bill the House will pass later today.

“Let me just say a word about that. The bipartisan jobs bill the House will pass later today is supported by the President. It is ready to go, and I hope that once it gets over to the Senate we'll simply take it up and pass it.

“It's an example of a measure that is supported by Republicans and Democrats and the President that we believe will clear the House with a very large majority. I think the sooner we pass that here in the Senate and send it down to the President for signature, the better.

“With that, Mr. President, I yield the floor.”