Mr. Krauthammer speaks to the nationalization of our healthcare system likened to Europe, but also about how we are probably heading toward a national sales tax to pay for it.
What he does not cover is a fact that came out last week, and was missed due to all the political chicanery going on in Washington, D.C.
While Treasuries backed by the full faith and credit of the government typically yield less than corporate debt, the relationship has flipped as Moody’s Investors Service predicts the U.S. will spend more on debt service as a percentage of revenue this year than any other top-rated country except the U.K. America will use about 7 percent of taxes for debt payments in 2010 and almost 11 percent in 2013, moving “substantially” closer to losing its AAA rating, Moody’s said last week.
That statement from Moody’s well before Obamacare had being passed. Does anyone want to still argue that Obama is not using the Cloward-Piven strategy to collapse the economy?