Friday, March 19, 2010

The Greatest American Swindle of the 21st Century---(Palin Update Added)

Liberal Democrats Make a Mockery of the Congressional Budget Office

For those of you who thought this story was about Bernie Madoff, think again. Although, there are distinct similarities to Madoff's Ponzi scheme---that bilked billions out of investors---the Democrats sent Douglas Elmendorf at the Congressional Budget Office, (CBO), the most creative and deceptive piece of legislation in U.S. history. In simple terms, the legislation sent to the CBO is frontloaded with projected revenues that includes cutting a half trillion from Medicare, borrowing imaginary funds from Social Security, and (this is the best one), begin collecting billions in new taxes and fines by mandating EVERY citizen in the United States own a health insurance policy. And to top all this off, your Democrat Congress is instructing the Internal Revenue Service, (IRS), to become the enforcement arm of collecting these new "revenues". If you think your accountant bills are out of line with the overhead in your small business, guess what, your accountant and the federal government is about to become your permanent partner.

But let’s return briefly to Mr. Elmendorf and his letter to Nancy Pelosi that “qualified” his scoring of the health care bill the House is about to pass. Elmendorf must have anguished for hours on how to make the CBO’s score not only look ridiculous, but how he might maintain the integrity of a once independent and impartial arm of congress. Here are a few excerpts prefacing the CBO’s score of H.R. 4872, the Reconciliation Act of 2010:

•“The Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) have completed a preliminary estimate of the direct spending and revenue effects of an amendment in the nature of a substitute to H.R. 4872, the Reconciliation Act of 2010;”

•“…the [CBO] has not thoroughly examined the reconciliation proposal to verify its consistency with the previous draft. This estimate is therefore preliminary, pending a review of the language of the reconciliation proposal, as well as further review and refinement of the budgetary projections.

•“CBO has not completed an estimate of the potential impact of the legislation
on discretionary spending, which would be subject to future appropriation action.” NOTE: Non-defense, non-veterans discretionary spending has risen 85 percent since the Democrats took control of the House of Representatives.

•“CBO has not extrapolated estimates further into the future because the uncertainties surrounding them are magnified even more.”

•“CBO has not yet completed an assessment of the impact for the longer term of enacting the reconciliation proposal by itself.”

Feel better? Mr. Elmendorf should have sent Mz. Pelosi a one sentence response to the information “her House” supplied----“You’ve got to be kidding?” Paul Ryan, ranking Republican on the House Budget Committee and a member of the House Ways and Means Committee explains Elmendorf’s dilemma in his address at the healthcare summit. The six minute video explicitly explains how the “garbage in---garbage out” theory works with this “historical” ponzi scheme:

“Since the Congressional Budget Office can't score your bill, because it doesn't have sufficient detail, but it tracks very similar to the Senate bill, I want to unpack the Senate score a little bit.

And if you take a look at the CBO analysis, analysis from your chief actuary, I think it's very revealing. This bill does not control costs. This bill does not reduce deficits. Instead, this bill adds a new health care entitlement at a time when we have no idea how to pay for the entitlements we already have.”……Paul Ryan

The problem is, Doug Elmendorf knows this. He also knows that his “preliminary estimate” released to Nancy Pelosi is chock full of “what ifs” and gimmicks purposely designed to make this bill appear to be affordable. When Ryan said, “The Senate Budget Committee chairman said that this is a Ponzi scheme that would make Bernie Madoff proud”, you could hear a pin drop in the room where the President and Democrats completely understand their mission to turn the health care industry over to the Federal Government---by any means necessary---including the disingenuous accounting procedures the CBO received and scurrilously returned to an unsuspecting public. The shameful reality is this new entitlement about to pass has not only permanently disgraced the institution of the Congressional Budget Office, the procedures about to be used by the Democrats “to make history”, (in the face of a majority of Americans who have rejected this bill), will indeed be the most historical decline in how our government preforms their duties as a representative republic or what the framers intended.

From this point on, our dictionaries will describe “swindles and ponzi schemes” with an asterisk----*(see the 111th congress or Bernie Madoff for a simple explanation).

Update: Sarah Palin says: America – Be Heard or Brace for “Transformation”

(editor's note: I reserve the right to revise and extend)

No comments: