Paul Krugman: The U.S. government takeover of health care "happened long ago."

Paul Krugman: The U.S. government takeover of health care "happened long ago."

"The government 
takeover myth

The first of these myths, which has been all over the airwaves lately, is the claim that President Barack Obama is proposing a government takeover of one-sixth of the economy, the share of GDP currently spent on health.

Well, if having the government regulate and subsidize health insurance is a “takeover,” that takeover happened long ago. Medicare, Medicaid, and other government programs already pay for almost half of American health care, while private insurance pays for barely more than a third (the rest is mostly out-of-pocket expenses). And the great bulk of that private insurance is provided via employee plans, which are both subsidized with tax exemptions and tightly regulated."

[link to www.daytondailynews.com]

Medicare, Poverty, Terrorism

[link to www.youtube.com]

The true story behind the health care crisis

[link to www.youtube.com]

Obama: "We're out of Money."
[link to www.c-span.org] [Warning: PDF]

In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: "We are out of money."

C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.

SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

OBAMA: Well, we are out of money now. We are operating in deep deficits

"The figure Walker cites includes future payments that government entitlement programs would have to pay, including $32 trillion owed by Medicare."
[link to www.cnn.com]

"Add together the unfunded liabilities from Medicare and Social Security, and it comes to $99.2 trillion over the infinite horizon."
[link to www.dallasfed.org]

U.S. unfunded liabilities: over 107 Trillion dollars
[link to usdebtclock.org]