That’s the constitution’s fault!

Everyone that’s not an insane collectivist knows that Obamacare’s mandate – no not two guys going out on a date – that people have to buy insurance was unconstituitonal. The 11th Circuit Court now is on record saying that’s the facts, and that’s gonna mean Obamacare, even if you where stupid enough to believe the idiotic talking points that this boondoggle was ever going to save any money, is going to cost us all a ton:

WASHINGTON (Reuters) – President Barack Obama’s signature healthcare law suffered a setback on Friday when an appeals court ruled that it was unconstitutional to require all Americans to buy insurance or face a penalty.

The U.S. Appeals Court for the 11th Circuit, based in Atlanta, ruled 2 to 1 that Congress exceeded its authority by requiring Americans to buy coverage, but it unanimously reversed a lower court decision that threw out the entire law.

The legality of the individual mandate, a cornerstone of the healthcare law, is widely expected to be decided by the U.S. Supreme Court. Opponents have argued that without the mandate, which goes into effect in 2014, the entire law falls.

The law, adopted by Congress in 2010 after a bruising battle, is expected to be a major political issue in the 2012 elections as Obama seeks another term. All the major Republican presidential candidates have opposed it.

I sure as hell hope it is a major factor in 2012. The people wanting healthcare paid by other people need to face the fact that we are out of other people’s money.

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  1. hist_ed

    This is interesting. Some capitalists are noting one major problem with the global economy is the hoarding of assets by the increasingly wealthy rich

    There’s a little problem there with the sequence of cause and effect. Hoarding of assets is not the problem; uncertainty is. First, really rich people rarely bury their money in their backyards or stuff it into their matresses-they invest it. Concentrations of wealth, by themselves, don’t mean that money is stagnating. What is happening is that capitalists are fleeing traditional investments in favor of inflation hedges. The industrialized world is heading towards a meltdown and smart people are trying to protect their wealth. The only way out of the meltdown, short of actually tackling the unsustainable welfare state (not too likely), will be to inflate the debt away.

    If the world’s largest economy stopped beating up on businesses, rewriting contracts via executive fiat, increasing the costs of business and generally increasing uncertainty, then all those wealth horders would be more likely to invest their money in more traditional ways. Add in a program that looks like a semi-serious attempt to get realistic about debt and we just might get the gold horders to put their money back into circulation.

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  2. AlexInCT *

    I am afraid hist_ed that this will go in one of CM’s ears, and out the other ear, because people like him do not want to understand this concept. To them the wealthy always got their money by doing harm to others and always deprived others of that wealth, hoard it when they should be handing it out to others that need it more, and most important of all, provide the eternal excuse for class warriors on the left to blame their failures on, so will perpetually need to be kept in a bad light.

    I am no millionaire, even with team Obama and their followers deciding anyone making more that $200K should be treated like a common criminal and be forcibly separated from whatever they made – unless they are a demcorat though, in which case they can just not pay taxes, and be fine – and I have been one of those responsible people that bought a house they could afford easily, carry no credit card debt because it is paid it off every month, put a huge chunk of their income in a retirement plan because they do not want to or expect government’s Ponzi schemes – which I am still being hammered by – are not going to be worth the toilet paper that promise is written on at this rate, and in general fall in the category of responsible ones that do things right.

    People like me, and anyone with any real money too, I presume, understand how these collectivists Keynesian assholes have fucked our economy and country up, and see that it is obvious that team Obama has made it stupid for me to spend any of my money, let alone invest it in this anti-business bullshit environment where government wants to control what is good and what is not. So I am putting as much of it as I can in things that help me keep my wealth. Fuck them if that pisses them off. They should keep their greedy fucking hands in their own pockets. Maybe get a real job and not suck off the productive people for a change.

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  3. CM

    Yep hist_ed, that does make sense.
    But the debt problem isn’t just a case of government debt, it’s also private debt. As pointed out, for 20 years the middle classes has been borrowing more and more (and encouraging them to do so is a cornerstone of modern capitalism). Like government debt, the level of private debt is also unsustainable.

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  4. AlexInCT *

    But the debt problem isn’t just a case of government debt, it’s also private debt.

    While I certainly do not condone out of control private debt CM, I also believe that comparing the two are like comparing apples and oranges. Short of both being debt, they live in different worlds, with different rules & consequences, and we get told one is great while the other is terrible.

    For one, government debt dwarfs any possible individual private debt. The unfunded and mandated social systems owned by the federal government, and both federal and state pension liabilities for the next 2 decades, range in the astounding $150-300 trillion range according to and depending on which economic analysis & reports you look at. Let that number sink in for a second.

    That’s just here in the US. But the big problem is what that debt means to future generations, and more importantly, how it will impact global economies. The collectivist nanny state, run by pseudo Marxists and paid for by raping the capitalists, is dead. What more proof do we need of that than the situation the world finds itself in right now? There

    As for private debt, I hear that complaint complaint, mostly from the people that have incurred the debt, always blaming others for making it so easy for them, and it falls on deaf ears. I am not going to feel compelled to jump of a bridge even if I am encouraged to do so. Same applies to debt. If you borrow more than you should, even when everyone is encouraging it, then you are insane. When things go south, these people will not back you up or save your ass. In fact many will line up to pick the corpse clean. You are the one holding the damned bag. Anyone claiming they didn’t understand or know this is either lying or a moron.

    Now, maybe the people that over extended their borrowing banked on government swooping in, as it always seems compelled to do by politicians looking to grow their power when people make bad decisions/choices and cry for help, to save their ass, but that only serves to make me even madder at them. They knew what they where doing was wrong, and they counted on those of us that didn’t do it to pay for the risks they took should things go bad. Fuck them.

    As pointed out, for 20 years the middle classes has been borrowing more and more (and encouraging them to do so is a cornerstone of modern capitalism). Like government debt, the level of private debt is also unsustainable.

    Not going to argue that with you CM, although I think you misplace the blame on capitalism when the real culprit are the politicians that see capitalism simply as the vehicle to pay for their Marxist utopia. The ones pushing the hardest for the changes that made it easier for the middle class to borrow more, are the people in government that saw that as the fuel for the big nanny state. Maybe because that way they could then use the excuse of “you borrow a ton too” to cover their own borrowing while increasing how much money they took in.

    Borrowing isn’t a bad thing. Borrowing more than you can afford, even if you truly need it, is stupid. Wer are beyond stupid now in government.

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  5. sahrab

    But the debt problem isn’t just a case of government debt

    This is the only problem, and for Americans, its a universal one. This problem has gotten out of control, and will take representation that accurately reflects their constituents wishes in order to correct.

    I say this, because it will take the constituents (Citizens) to inform their Representitives how they want their money (Taxes) spent and where, in order to be able to budget appropriately.

    When the Constituents want more than the budget calls for, then you either cut programs to pay for the new, or you increase revenues (not JUST tax increases).

    For now we have a system that spends money and then tries to pay for it.

    it’s also private debt. As pointed out, for 20 years the middle classes has been borrowing more and more (and encouraging them to do so is a cornerstone of modern capitalism). Like government debt, the level of private debt is also unsustainable

    You really should understand capitalism before attempting to hang its label on things you obviously dont understand.

    This is a Personal Responsibility issue, has nothing to do with whether President Obama’s signature program is Constitutional Legal or not.

    Captilism is a form of evolution. With the Personal Responsibility problem you’re cyring tears over, they should let those borrowed outside of their means fail. Just as with what should have happened with the “Housing Crisis”.

    Subsidized bad decisions, with tax payer funds, doesnt elimnate the problem, it rewards it and shifts it down for the next generation.

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  6. hist_ed

    The corrective to too much private debt is a free market. People that borrow too much hit a credit wall and then can’t borrow any more.

    Governments can just keep on going, printing money if needed to keep up the cycle.

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