When it comes to political lies that cannot and will not be met “It won’t cost a dime” is right at the top of list. Not unexpectedly, that was central thesis of numerous Fantasyland projections in Obama’s State of the Union Address Tuesday Evening.
Here are a few ideas from his state of the union address and my comments on them.
On Health Care Quality
In reference to health care costs, the president claims “medical bills shouldn’t be based on the number of tests ordered or days spent in the hospital – they should be based on the quality of care that our seniors receive.”
Mish says good luck with charging healthcare based on quality, because quality is impossible to define.
On Closing Loopholes
Obama says we can hit deficit targets and “save hundreds of billions of dollars by getting rid of tax loopholes and deductions”.
Mathematically speaking, one cannot save a dime by closing loopholes. Closing loopholes may be more fair, but that has nothing to do with “saving money”. Rather, closing loopholes simply spreads costs around in a different fashion.
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