The Sanchez Report

Obama Feeling The Heat: "You're Going To Destroy My Presidency"

President Obama is starting to feel the heat. I suspect the President has never experienced push back in any way shape or form. He has been accustomed to getting his way throughout his brief public career. His adoring fans and media have hung onto his every word, but this love affair has been disrupted. Not only are his poll numbers falling, but he doesn't even have the support of his own party in Congress. Just six months into his presidency and he is already concerned about his legacy. In a recent meeting with a Democrat Congressman, he was candid in expressing his concern about the lack of support of his healthcare plan by stating " You're going to destroy my presidency."

From Congress Daily:

A telling episode recounted by Senate Finance ranking member Charles Grassleyreveals the Obama administration might be more worried than they are letting on that a Republican senator's comparison of the healthcare overhaul to Waterloo might be dangerously close to the truth.

Grassley said he spoke with a Democratic House member last week who shared Obama's bleak reaction during a private meeting to reports that some factions of House Democrats were lining up to stall or even take down the overhaul unless leaders made major changes.

"Let's just lay everything on the table," Grassley said. "A Democrat congressman last week told me after a conversation with the president that the president had trouble in the House of Representatives, and it wasn't going to pass if there weren't some changes made ... and the president says, 'You're going to destroy my presidency.' "

The White House did not respond to requests for comment.

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CBO Director: The Federal Budget Is On An Unsustainable Path

The Director of the Congressional Budget Office confirmed what most of us already knew. Namely that the federal budget is on an unsustainable path. I'm sure the White House isn't happy with having another credible source weigh in on their reckless spending.

From the CBO Director's Blog:

Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits. Large budget deficits would reduce national saving, leading to more borrowing from abroad and less domestic investment, which in turn would depress economic growth in the United States. Over time, accumulating debt would cause substantial harm to the economy. The following chart shows our projection of federal debt relative to GDP under the two scenarios we modeled.

   

 

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The Case Against Obama's Healthcare Takeover

From Kudlow's Money & Politics:

It looks like President Obama’s big-bang health-care reform is going down to defeat. This is good. But my question is why do we need it at all? According to a recent ABC News/USA Today/Kaiser Family Foundation survey, 89 percent of Americans are satisfied with their health care. That could mean up to 250 million people are happy. So why is it that we need Obama’s big-bang health-care overhaul in the first place?

There’s more. According the U.S. Census Bureau, we don’t have 47 million folks who are truly uninsured. When you take college kids plus those earning $75,000 or more who chose not to sign up, that removes roughly 20 million people. Then take out about 10 million more who are not U.S. citizens, and 11 million who are eligible for SCHIP and Medicaid but have not signed up for some reason.

So that really leaves only 10 million to 15 million people who are truly long-term uninsured.

Yes, they need help. And yes, I would like to give it to them. But not with mandatory coverage, or new government-backed insurance plans, or massive tax increases. And certainly not with the Canadian-European-style nationalization that has always been the true goal of the Obama administration and congressional Democrats.

Instead, we can give the truly uninsured vouchers or debit cards that will allow for choice and coverage, and even health savings accounts for retirement wealth. According to expert Betsy McCaughey, instead of several trillion dollars and socialized medicine, this voucher approach would cost only about $25 billion a year.

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