Obamas legacy
- Thread starter ChkitOut
- Start date
OWS is big, way bigger than the tea party, it has now gone global, 80+ countries have started today. Obama has unleashed this movement for his own cause to propel himself to a 2nd term in office.
http://www.dailymail.co.uk/news/art...omes-London-thousands-demonstrators-City.html
http://www.dailymail.co.uk/news/art...omes-London-thousands-demonstrators-City.html
If some real change comes out of this it will be a great legacy
I can hardly even fathom the stupidity of this move on the part of the Obama admin. Did they really think that they had a better shot at getting elected if there is civil unrest all over the U.S. and all over the world?
If half the country is going up in flames in September 2012 there is absolutely no chance he will be re-elected.
If half the country is going up in flames in September 2012 there is absolutely no chance he will be re-elected.
MORE OBAMA LEGACY
In a Friday bad-news dump that was a whopper even by its own standards, the Obama administration added to the announcement of a near-record annual deficit and an escalation of undeclared war in Uganda the news that the CLASS Act, an ill-conceived adjunct of the Affordable Care Act, is no more. The upshot is this: Obamacare just got a whole lot more expensive than advertised, and there is reason to believe that its Democratic architects have long known this would happen.
The Community Living Assistance Services and Support Act was the brainchild of the late senator Edward Kennedy of Massachusetts, and it was supposed to be a kind of Social Security that provided long-term care for the elderly. It figured heavily into the Democratsâ dubious accounting of the cost of the Affordable Care Act, and at the time of passage was expected to account for $70 billion out of a total $143 billion in âdeficit reductionâ claimed in the bill.
But that number was a lie twice over. The revenue created by CLASSâmore recently projected to be not $70, but $86 billion, as the CBOâs ten-year budget window has moved forward since passageâcomes in the form of insurance premiums paid to the government, which eventually would have been disbursed to cover care, not reduce the deficit. Yet Democrats designed CLASS to collect premiums for five years before paying out benefits, which made it look like it was running surpluses within the CBOâs ten-year budget window.
In a Friday bad-news dump that was a whopper even by its own standards, the Obama administration added to the announcement of a near-record annual deficit and an escalation of undeclared war in Uganda the news that the CLASS Act, an ill-conceived adjunct of the Affordable Care Act, is no more. The upshot is this: Obamacare just got a whole lot more expensive than advertised, and there is reason to believe that its Democratic architects have long known this would happen.
The Community Living Assistance Services and Support Act was the brainchild of the late senator Edward Kennedy of Massachusetts, and it was supposed to be a kind of Social Security that provided long-term care for the elderly. It figured heavily into the Democratsâ dubious accounting of the cost of the Affordable Care Act, and at the time of passage was expected to account for $70 billion out of a total $143 billion in âdeficit reductionâ claimed in the bill.
But that number was a lie twice over. The revenue created by CLASSâmore recently projected to be not $70, but $86 billion, as the CBOâs ten-year budget window has moved forward since passageâcomes in the form of insurance premiums paid to the government, which eventually would have been disbursed to cover care, not reduce the deficit. Yet Democrats designed CLASS to collect premiums for five years before paying out benefits, which made it look like it was running surpluses within the CBOâs ten-year budget window.
First photo in the thread is of Rome not the USA so I fail to see how Obama is responsible for the fiscal ineptitude of Italy.
Obama's legacy will be that he and his administration did not bring a single indictment, let alone conviction, of those that perpetrated the biggest financial fraud in the history of mankind. One could easily argue that a republican president would not have gotten away with allowing such injustice to occur.
That will definitely be a big part of his legacy. I think it will resonate due largely to the fact that he campaigned on all of that "reformist" rhetoric. Little did anyone know that he'd be the biggest advocate of the status quo, especially with lil Timmay advocating for perpetual TBTF subsidies.