By End of the American Dream

You can almost always count on the Supreme Court to do the wrong thing.  In fact, just about every major decision by the U.S. Supreme Court over the last 40 years has been bad for America.  Many were hoping that the Supreme Court would strike down Obamacare, but the truth is that we all should have known better than to expect them to get something right.  So now America is headed for a complete and total disaster as Obamacare is fully implemented over the next several years.  Obamacare is going to absolutely shred the infrastructure of our medical system, it is going to send health insurance premiums soaring, it is going to dramatically expand the size and the scope of government, it is going to fundamentally alter the relationships between doctors and their patients and it is one of the largest tax increases in U.S. history.  Not only that, it is also going to add about a trillion dollars to our national debt over the next decade.  So no, the Obamacare decision is not good news.  Obamacare was one of the worst pieces of legislation in American history, and now we are stuck with it.

It was a 5-4 decision to uphold Obamacare, and the swing vote was Chief Justice John Roberts who was appointed by George W. Bush.

After the vote today, it is hard to have any faith in the U.S. Supreme Court.  Many constitutional conservatives kept voting for Republicans in the hope that the direction of the Supreme Court would change, but it hasn’t.

Prior to the Obama administration, Republicans controlled the White House for 20 out of 28 years.  If Republicans were going to fundamentally change the nature of the Supreme Court, that was their opportunity.

But it didn’t happen.

Instead, what we have is a Supreme Court that is dominated by judges that have very little respect for the U.S. Constitution.  When I was in law school I got to study the Supreme Court pretty closely and I quickly realized that most of the time they simply do whatever they want to do and they make up whatever reasons they can to justify their decisions.

That sounds really bad, but that is the truth.

And thanks to the Supreme Court, we are stuck with Obamacare – at least for now.

The following are 15 reasons why the Obamacare decision is a mind blowing disaster for America….

1. According to the U.S. Supreme Court, the federal government has the power to force you to buy private goods and services.  Now that this door has been opened, what else will we be forced to buy in the future?
2. Obamacare is another step away from individual liberty and another step toward a “nanny state” where the government dominates our lives from the cradle to the grave.
3. The IRS is now going to be given the task of hunting down and penalizing millions of Americans that do not have any health insurance.  In fact, the Obama administration has given the IRS 500 million extra dollars “outside the normal appropriations process” to help them enforce the provisions of Obamacare that they are in charge of overseeing.
4. Obamacare imposes more than 20 new taxes on the American people.  You can find a comprehensive list of Obamacare taxes right here.  If you love paying higher taxes, then you are going to absolutely love Obamacare once it is fully implemented.
5. In an attempt to “control costs” and “promote efficiency”, Obamacare limits the treatment options that doctors and patients can consider.  This is likely to result in a decrease in life expectancy in the United States.
6. Obamacare is going to impose nightmarish paperwork burdens on doctors, hospitals and the rest of the healthcare system.  This is going to significantly increase our healthcare costs as a nation.
7. Obamacare is going to send health insurance premiums soaring.  This is especially true for younger Americans.
8. Many small businesses are going to be absolutely crushed by the provisions in Obamacare that require them to provide expensive health insurance coverage for their employees.  This is going to make them even less competitive with companies in other countries where businesses are not required to provide healthcare for their workers.  This is also going to make it even less attractive for businesses to hire new employees.
9. Obamacare is going to make the emerging doctor shortage in America a lot worse.  Surveys have found that we could potentially see hundreds of thousands of doctors leave the medical profession because of Obamacare.
10.  Obamacare has already forced the cancellation of dozens of doctor-owned hospitals.
11.  Obamacare is going to result in a much bigger federal government.  In order to fully implement all of the provisions of Obamacare, hordes of new government bureaucrats will be required.
12. Thanks to Obamacare, you are going to have to wait much longer to see a doctor.  Just look at what happened once Romneycare was implemented in Massachusetts….                                                                                                                                                                             In fact, we have already seen the start of this process in Massachusetts, where Mitt Romney’s health care reforms were nearly identical to President Obama’s. Romney’s reforms increased the demand for health care but did nothing to expand the supply of physicians. In fact, by cracking down on insurance premiums, Massachusetts pushed insurers to reduce their payments to providers, making it less worthwhile for doctors to expand their practices. As a result, the average wait to get an appointment with a doctor grew from 33 days to over 55 days.
13. Obamacare contains all kinds of insidious little provisions that most people don’t even know about.  The following is one example from the Alliance Defense Fund….                                                                                                                                                                         “Did you know that with ObamaCare you will have to pay for life-saving drugs, but life-ending drugs are free. One hundred percent free. If this plan were really about health care wouldn’t it be the other way around?”
14. As if the U.S. government was not facing enough of a crisis with entitlement spending, it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.  You and I will be paying for all of this.
15. The Congressional Budget Office estimates that Obamacare will add more than a trillion dollars to government spending over the next decade.  Considering the fact that the U.S. government is already drowning in debt, how in the world can we afford this?     (my emphasis)

So what do you think about the Obamacare decision?

By End of the American Dream

By permission End of the American Dream

http://endoftheamericandream.com

The New and Even Worse Obamacare – National Review   “The political case for repealing Obamacare, which has always been the most significant and relevant case, is stronger than ever after today’s decision. Left alone, the law will spend well over a trillion dollars in the coming decade on yet another health-care entitlement program and on the expansion of existing entitlements, micromanage the insurance industry in ways likely to make it even less efficient, employ even heavier price controls of the sort that have always failed in Medicare, and raise half a trillion dollars in taxes on employment, investment, and medical research. And now we know that its tax bill will be even higher than we thought, and that its reduction of the uninsured even smaller. Today’s decision just means that President Obama must now embrace this monstrosity even tighter, and that the case for replacing him has grown even clearer and more powerful.”

GOP Governors Vow to Ignore Obamacare – Washington Examiner   “RGA Chairman Bob McDonnell said, ‘Today’s ruling crystallizes all that’s at stake in November’s election. The only way to stop Barack Obama’s budget-busting health care takeover is by electing a new president. Barack Obama’s health care takeover encapsulates his presidency: Obamacare increases taxes, grows the size of government and puts bureaucrats over patients while doing nothing to improve the economy.’”

Supreme Court Upholds Obamacare: What It Means, What Happens Next – Forbes   “An invigorated Republican Party: Having survived the Supreme Court, Obamacare is now before the voters in the November elections. Republicans will use this to push for victory so they can repeal the law, which is opposed in some measure by more than 60% of voters.  If they win, they face the challenge of fulfilling those promises without angering voters by eliminating popular provisions like the elimination of pre-existing conditions and lifetime policy caps, no-copayment checkups, and coverage for children up to the age of 26.”

By Mac Slavo

It’s official. President George Bush’s Supreme Court appointee Chief Justice John Roberts has sided with the liberal-leaning members of the court and upheld the key provisions of the Patient Protection and Affordable Care Act.

While the government can’t force Americans to buy any particular good or service, the Supreme Court’s landmark decision essentially says that your failure to purchase health care will require a tax penalty, thus leaving you with no other option if you want to avoid being taxed.

As bad as this is, a long-time White House Insider doesn’t necessarily see this is a complete loss for individual responsibility and liberty, but rather, a motivator that will catalyze opposition to Obama’s reelection hopes:

And the initial reports I’m getting are telling me there was a lot more clever going on inside that decision than the initial reaction will indicate. It’s the Obama Tax now.  And states were given an out.  The entire law is a big ass convoluted mess and the ruling has reinforced that fact.  Obama will have to defend something he doesn’t understand, and Romney can now sit back and just repeat over and over again “repeal-repeal-repeal”.

You can call bullsh-t on me here and I’ll understand if you do but I’m telling you right up this ruling today is GOOD NEWS.  Politically,  as a motivator, it’s great news.  Watch contributions toward Republicans jump up even more than they already were.  Watch the Obama White House have to face very hard questions over the Obamacare tax issue.  Watch states rise up to challenge the administration using the weapon the Supreme Court placed in their hands to do so. Watch the Tea Party come back stronger and more powerful than ever.

The giant has woken up.  Country needed a hard kick in the ass to remind us what is at stake in November.  Now we are truly ready to fight.

Source: The Ulsterman Report

A large percentage of Americans were already up in arms about the prospect of being forced to purchase health care. Now that it’s clear that what is happening is another government mandated tax, we suspect a massive outcry leading into the election.    (my emphasis)

We are not, however, convinced that a President Romney administration would act to end Obamacare if they are victorious in November, though his campaign is already calling for repeal.

By Mac Slavo for SHTF Plan

By permission Mac Slavo

www.shtfplan.com

Rubio: IRS to ‘Come After’ Uninsured – Politico   “‘I hope people back home fully understand what this means, and here’s what this means: It is now unlawful for you not to buy health insurance, and if you do not buy it, you have an IRS problem,’ the Florida Republican said on Fox News. ‘If you do not buy health insurance, the IRS is going to be on your back and chasing you. They’re going to take away your refund, they’re going to increase your fees, they’re going to come after you.’”

The Supreme Court’s Surprise – Commentary   “Judging by the signs being carried, the overwhelming majority of the crowd outside the Court this morning was anti-ObamaCare. With the upholding of the mandate, ObamaCare survives. For now. But I suspect the already energized anti-Obama forces in this year’s election will now be supercharged. The only way to get rid of this deeply pernicious piece of legislation will be to get rid of Obama. Requiring all candidates for federal office to sign a promise to repeal ObamaCare as a precondition of support would be a starter.”

Japan’s Debt Addiction Creating ‘Mother of All Bubbles’ – CNBC   “He adds that currently half of the government’s revenue goes to paying the interest rate on these bonds. ‘It doesn’t take a rocket scientist to work that if those rates start ticking up, for whatever bizarre reason, you may see the Japanese government spending 100 percent of its tax take on pure interest-rate servicing and that’s a very dangerous position to be in,’ McFadden said.”

By Wayne Allyn Root

I’ll admit I wanted to see Obamacare struck down by the Supreme Court. Yet I rooted for this outcome with trepidation. Because the loser of this decision would gain the edge in the election. Why? Simple. Voters are motivated by fear, anger, shock, and outrage.

Just like consumers. Rarely does a consumer ever contact a business owner like me to tell me how great my business or products are. Almost 100% of letters, emails, and calls a business owner receives involve complaints. It’s always been that way. Whether you’re talking about voters, consumers, or citizens exercising their rights.

Have you ever seen citizens mobilizing and showing up at City Hall meetings in force to say they are happy with the Mayor and the City Council? It has never happened. It never will. But if the garbage isn’t picked up fast enough, if the snow isn’t plowed fast enough, if the zoning is changed in a way that hurts property values- WOW, do you have protests and outrage! People who are happy are just not motivated to get off the couch and take action. Only anger works to motivate people to do something…to shout…to make calls…to go door to door…to organize protests…to vote…to contribute. So in politics the edge goes to the angry electorate.

So today’s Supreme Court ruling might seem to be a victory for Obama, but in reality it is the worst possible outcome for him. Conservative voters will now be on the warpath and come out in droves on election day. The party with the anger is the party with the edge.

But far worse is the actual decision and how it makes Obama look. He didn’t win healthcare for the people. He won a giant new tax. Don’t take my word for it. Just ask the Supreme Court. How appropriate. Barack Obama will now go down in the history books as the Great Taxer in Chief. His signature victory was just ruled a tax bill by the Supreme Court, not a health or commerce bill. Americans hate taxes. They throw big taxers out of office. Heck, we fought an entire revolution over tiny taxes on tea! Obama just became “the King of Taxes” with his smashing tax victory. He will go down in history as the greatest taxer ever in the White House for his signature tax victory. Get it? Obama and the word “taxes” are forever tied together. He isn’t Barack Hussein Obama anymore. He is Barack Taxes Obama.

By the way, liberals, big government proponents and the Obama administration (I know, I repeat myself) didn’t win big on Thursday. They lost on the commerce clause aspect of this decision- which means government cannot throw every bit of commerce for the rest of all time under their authority. That’s a loss.

And they lost on the Medicaid expansion- which is a victory for States’ Rights.

All in all, a hollow victory for Barack Taxes Obama. In the long run, I’m betting it’s a victory he’ll wish he lost.    (my emphasis)

By Wayne Allyn Root

By permission Wayne Allyn Root

www.rootforamerica.com

Wayne Allyn Root is a Capitalist Evangelist and serial entrepreneur. He is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Campaign Committee. He is the best-selling author of “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts.” His web site: www.ROOTforAmerica.com

Biden: “It’s A Depression For Millions And Millions Of Americans” – Buzz Feed   “Biden pushing middle-class, jobs: ‘it’s depression for millions and millions of americans’ searching for work.”   I have just one question relating to this: how can these comments possibly correlate to Obama’s recent statement that “the private sector is doing fine”?

Holder Faces House Contempt Vote on Gun Probe – Reuters    “U.S. Attorney General Eric Holder faces a contempt vote by the House of Representatives on Thursday in a dispute involving a botched gun-running probe, and the chamber’s top Democrat, Nancy Pelosi, said some in her party may line up with Republicans against him.”

Time to Occupy State Pensions? – American Interest   “The biggest scam going in American financial life may be the collusive effort by Wall Street, the political class, and public sector unions to use union retirement money to prop up Wall Street speculation. That the public unions are in effect fighting to retain the ‘freedom’ to put worker pension money in high risk, high fee assets is an indication of just how intellectually and politically bankrupt much of the American public sector labor movement has become.”

By Andy Sutton

Recently, the Treasury Department almost gleefully and proudly announced that foreign holdings of US Debt had hit a record high during the month of April and that bond heavyweight China had upped its holdings after trimming for two straight months. This dovetails nicely with a story that was published earlier this week about the federal reserve and its own holdings of US Debt, which have increased over 450% in the past three years. And no, that is not a typo. The federal reserve now holds over $1.6 Trillion in USGovt debt. Obviously the establishment is thrilled with these developments because it helps maintain the status quo of the dollar standard era. However, there are some serious ramifications that few are paying attention to and are getting almost zero coverage from traditional media outlets. From the AP this morning:

“China boosted its holdings 0.1 percent to $1.15 trillion in April. That followed a 1 percent drop in March and a 0.9 percent decline in February. March’s figures were revised down from the government’s initial estimate a month ago that China had boosted its holdings in March.

Japan, the second-largest buyer of Treasury debt, trimmed its holdings 0.9 percent to $1.07 trillion. Brazil, the third-largest buyer of Treasury debt, boosted its holdings 5.3 percent to $246.7 billion.”

The US Government and its catastrophic fiscal morass are now viewed by the world as a ‘safe haven’? This would easily qualify for a comedy shtick if it weren’t so serious.

Where is the ‘Eurozone Effect’ in US Govt Debt?

The headlines have been filled with story after story about how the major rating agencies (S&P, Moody’s and Fitch in particular) have been literally wrecking EU nations for their inability to get a handle on their fiscal affairs. This has created a self-reinforcing cycle. Agencies cut the ratings, which prompts bond investors to demand higher yields, which makes it even less likely that the nations will be able to meet payment obligations, which leads to further downgrades and so forth. Wash, rinse, repeat. Not only have the nations themselves been hit, but their banks have been hit as well – and deservedly so. In truth, the entire Eurozone, save for Germany, should be rated below investment-grade; and quite a few of them should be rated as junk.

Which brings us to America. The inability of our government to do much of anything without further borrowing is now well documented. Uncle Sam borrows nearly 50 cents of every dollar spent, and despite massive stimulus via heavy deficit spending, the USEconomy is dead in the water. There is a huge paradigm shift going on in the labor market right now. Jobs are available, but for the most part they’re of the variety of which two (or more) are needed to create a manageable situation for a family. Families are back on the credit card and this writer must wonder how much of that debt accumulation is out of necessity rather than a need for largesse. There is a bubble in student loan debt and both Social Security and Medicare are in serious trouble. Last August S&P, citing these and other factors, dropped the government’s rating a single notch. Generally when ratings go down, yields go up. Quite the opposite has happened in our case. Yields are now at all-time lows.

The False Paradigm Continues

First, this continues and even reinforces the notion that America is somehow immune from the laws of economics (and common sense for that matter). Somehow we can borrow and spend as much money as we want without fear of negative repercussions. In fact, not only won’t we be punished, we’ll be rewarded by having to pay lower interest rates. Does it make any sense though that the average credit card rate for individuals is somewhere in the mid 13% range and the average American’s finances – as bad as they are – are still several orders of magnitude better than that of the US Govt, which is treated to the lowest rates in history?

Make no mistake about it; the bubble blowing up in USTreasuries is the mother of all bubbles to date, eclipsed only by the even larger bubble being blown up in OTC derivatives, which almost NOBODY is talking about. In plain English, this will not end well – enjoy it while it lasts.

Why Save?

Secondly, the near-zero interest rates being paid by banks and other savings vehicles are so low that it actually discourages people from saving when they need to be doing it most. I had the severe displeasure of scanning rates on money market funds for a client the other day and found that the average of the handful of money market funds I looked at was .06%. That is six cents a year for every hundred dollars invested. Incredible. And when you figure that veritable fortune is taxed? Well, what’s the point of even saving? Unfortunately, many people are taking that attitude. If we’re not going to be compensated, why bother? A quick look at the savings averages for people nearing retirement is downright scary. Granted, this has been going on an awful long time. People appear to be under the false notion that the government is going to take care of them and that their Social Security (which is anything but) will carry them through. Many are now finding out the hard way that this simply isn’t the case.

We are Europe

Thirdly, the persistently poor economy, which by several authentic non-GDP based metrics has now been in recession for nearly 6 years, has created and entire class of people who are dependent on the government for either all or nearly all of their sustenance. Social Security Disability claims are at an all-time high. Food stamp subscriptions are at an all-time high, as are energy assistance, and Medicaid use. We are Europe, plain and simple. While our politicians and Mr. Geithner sit here and lecture the Europeans on fiscal responsibility, we’ve got our very own Titanic that is listing from a huge gash in its side caused by the overriding welfare mentality and a complete lack of leadership over the past half century. Much like many of the Eurozone nation-states, we have lost our own sense of personal responsibility. Somebody else will take care of it. Someone else will pay for it. Someone else will clean up our mess.

As the money flies out of Greek banks and the Eurozone in general so fast that it can barely be counted, there aren’t a lot of viable places to stash it. One must wonder where it is all going. Global stock markets have been in a correction over the past month or so. Commodities are stagnant as financial agents attack prices at every turn in a vain attempt to contain the effects of all the monetary inflation going on around the globe. USTreasuries have been one parking place, but really, given the fundamentals of America’s finances, stashing your capital in USTreasuries is the equivalent of jumping from the frying pan directly into the fire.

This is where the final component of the false paradigm comes into play: the complete lack of moral hazard. The bailout mentality, like the welfare mentality, is firmly in place. We taught banks and hedge funds back in 2008 (and even before) that the USTaxpayer is always willing, able, and ready to back up any losses experienced as a result of poor risk management, gambling, and outright irresponsible behavior. We’ve taught people that they can behave irresponsibly and buy homes they have no hope of ever affording and while millions have lost those homes, millions more have been bailed out.

The real question becomes who is going to do the bailing out when the USTreasury and OTC Derivative bubbles burst? There isn’t enough capital in America to cover the Treasury mess and there isn’t enough capital in the universe to cover the OTC casino gambling of financial agents around the globe. Got gold?      (my emphasis)

By Andrew W. Sutton, MBA, Chief Market Strategist, Sutton & Associates, LLC

By permission Andy Sutton

http://www.sutton-associates.net

Sutton & Associates, LLC is a Registered Investment Adviser in the Commonwealth of Pennsylvania.

House Dems’ Campaign Chief Urges Candidates to Steer Clear of Convention – Fox News   “The top Democrat in charge of getting other Democrats elected to the House is urging his party’s candidates to steer clear of the national convention later this year. The piece of advice from Rep. Steve Israel, D-N.Y., chairman of the Democratic Congressional Campaign Committee, ‘If they want to win an election, they need to be in their districts,’ Israel said of Democratic congressional candidates, according to Reuters.”

Senate Deal Would Freeze Student-Loan Rates for Year – Washington Post   “The agreement would freeze the interest rate for a year, preventing it from doubling from 3.4 percent to 6.8 percent on July 1, making college more affordable for students as tuition costs are rising. … If the deal emerges from Congress intact, Obama is likely to take credit for having forced the issue to the front of the agenda, but Republicans have countered that an agreement could have been reached weeks ago had Democrats not decided to make it a campaign issue. Republicans say that Democrats slow-walked the negotiations to allow the president to paint the GOP as recalcitrant and willing to risk higher college costs.”

Mediation Fails, Pushing Stockton Toward Bankruptcy – NY Times   “The new budget will suspend debt payments, cut employee pay and reduce retiree benefits, allowing this city of about 292,000 residents to continue providing essential services through the bankruptcy process. … Bankruptcy experts and officials at other fiscally wounded cities are keeping close tabs on Stockton as it unravels.”