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Over the past weekend I had the opportunity of a private conversation with an old friend, former Congressman Barry Goldwater, Jr. He was honored at a dinner sponsored by Young Americans for Freedom at the end of Western CPAC. Barry is a true conservative.
In this American Spectator article by Goldwater, he shows that Obama is both naive and lacking in common sense.
"Lets look at Medicare. The president and Congress propose to extend Medicare to cover the 47 million people who lack health care coverage. Did anyone remind Congress that Medicare is broke? Its rampant with fraud and abuse. Medicare and Medicaid fraud cost taxpayers an estimated $60 billion per year.
Medicare is legally required to pay full retail prices for drugs that could be obtained for far less in a competitive-bidding system.
Health insurance companies are required by state regulators to maintain a reserve for future liabilities. Every working stiff in this country is required to pay premium taxes into Medicare, which has no reserve. The federal government has been running the largest Ponzi scheme ever created, and it is on the hook for $36 trillion in unfunded liabilities."
Medicare is a disaster. Yet Obama wants all of us to be covered by a similar program. Shame on us for not laughing at the Barack joke instead of taking it seriously.
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In this American Spectator article by Goldwater, he shows that Obama is both naive and lacking in common sense.
"Lets look at Medicare. The president and Congress propose to extend Medicare to cover the 47 million people who lack health care coverage. Did anyone remind Congress that Medicare is broke? Its rampant with fraud and abuse. Medicare and Medicaid fraud cost taxpayers an estimated $60 billion per year.
Medicare is legally required to pay full retail prices for drugs that could be obtained for far less in a competitive-bidding system.
Health insurance companies are required by state regulators to maintain a reserve for future liabilities. Every working stiff in this country is required to pay premium taxes into Medicare, which has no reserve. The federal government has been running the largest Ponzi scheme ever created, and it is on the hook for $36 trillion in unfunded liabilities."
Medicare is a disaster. Yet Obama wants all of us to be covered by a similar program. Shame on us for not laughing at the Barack joke instead of taking it seriously.
More...