This edition WFTW is a comment response to an article from one of my favorite bloggers and speakers Dan Mitchell.
The article is: In the Entire World, Is there Anybody Who Is Suprised that Obamacare Is Turning Out to Be Far More Expensive than the President Promised? and begins as follows:
March 3, 2012 by Dan Mitchell
Washington is filled with people who exaggerate, prevaricate, dissemble, and obfuscate. And those are the people I like. The ones I don’t like are much worse.That’s why, during the Obamacare debate, I warned that the numbers were utterly dishonest.
We were told, if you remember those grim days, that adopting a giant new entitlement somehow was going to lead to less red ink, but I doubt anybody with an IQ above room temperature actually believed that nonsense, notwithstanding the supposedly non-partisan estimates from the Congressional Budget Office and the Joint Committee on Taxation.
Well, Obamacare was enacted and we’ve already seen evidence that supporters were being less than truthful.
“I’m shocked, shocked, that Obamacare is more expensive than the original forecasts.” And now there are additional re-estimates suggesting the problem is much worse than even critics feared.One wonders whether supporters of the legislation will now imitate Inspector Renault from Casablanca and pretend that they are surprised about this outcome. Continue Reading
Beyond the usual wisdom of Dan Mitchell is the perspective imposing wisdom of the commenter posting as “Zorba” as follows:
“You have not seen anything yet on ObamaCare — and it’s main effect in prosperity suppression will never be seen, just as Europeans never saw it.
It is the effect on perpetually compounding lower growth rates, as the effort- reward curve flattens to European levels, as exceptional work is trimmed to insulate a majority from the consequences of lifetime mediocrity — a mediocrity supported by the various “care” packages. — many more to come as the desperation of decline will inevitably trigger calls for more packages at the polls. Nothing is quite as pivotal and as irreversible in america’s decline as ObamaCare.
That will be the main effect and consequence. But few will recognize it as such. The decline though will be real and felt. Welcome to Europe.”
Now that’s reminding us of what is at stake!