The American Spectator : The Spectacle Blog : Just Wait for the Health Care Bills to Start Coming In!

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The Spectacle Blog

Just Wait for the Health Care Bills to Start Coming In!

By Doug Bandow on 3.22.10 @ 11:12AM

Federal finances already are a disaster. Just wait for the massive spending hikes necessary with the fedearl government's health care takeover.

Reports Bloomberg:

The bond market is saying that it's safer to lend to Warren Buffett than Barack Obama.

Two-year notes sold by the billionaire's Berkshire Hathaway Inc. in February yield 3.5 basis points less than Treasuries of similar maturity, according to data compiled by Bloomberg. Procter & Gamble Co., Johnson & Johnson and Lowe's Cos. debt also traded at lower yields in recent weeks, a situation former Lehman Brothers Holdings Inc. chief fixed-income strategist Jack Malvey calls an "exceedingly rare" event in the history of the bond market.

The $2.59 trillion of Treasury Department sales since the start of 2009 have created a glut as the budget deficit swelled to a post-World War II-record 10 percent of the economy and raised concerns whether the U.S. deserves its AAA credit rating. The increased borrowing may also undermine the first-quarter rally in Treasuries as the economy improves.

"It's a slap upside the head of the government," said Mitchell Stapley, the chief fixed-income officer in Grand Rapids, Michigan, at Fifth Third Asset Management, which oversees $22 billion. "It could be the moment where hopefully you realize that risk is beginning to creep into your credit profile and the costs associated with that can be pretty scary."

The fiscal fun has just begun!

View all comments (12) | Leave a comment

Tim| 3.22.10 @ 11:19AM

The Gubmint is too big to fail.

Stan Redmond| 3.22.10 @ 11:36AM

Not to worry. When Bush's tax cuts for the wealthiest of Americans expire all our financial problems will vanish. And if that doesn't work the dems can just deem there's no problem and blame Bush.

Cris Worth| 3.22.10 @ 11:50AM

We the people need to consult with Romney. Governor "Mitt" has vast experience creating and managing health care boondoggles.

Becky| 3.22.10 @ 12:04PM

I believe Mitt may have helped create, but wasn't around long enough to manage.

Cris Worth| 3.22.10 @ 12:14PM

"MAY have helped create"...DID create, the erstwhile governor signed it into law hence RomneyCare. The buck stops with the executive, Romney is responsible, no excuses and was around long enough to manage it. Where is the apology?

Real American| 3.22.10 @ 12:40PM

he's still running around defending that monstrosity. That's why he shouldn't even bother to run for the GOP nomination again w/o some major repenting first...and a personality transplant.

Seek| 3.22.10 @ 1:21PM

It's time to destroy the Obama administration. This is a job for...LASER CATS!!

Ken (Old Texican)| 3.22.10 @ 1:34PM

Doug,
I for one ain't gonna' wait.

Guys,
Romney is an honorable man...who wears the wrong kind of underwear, (Mormon).
He will never see the Presidency.

Since we are in Civil war already, let's jam Sarah down their throats and tell them to kiss our hineys.

...At least she knows how to shoulder a rifle....instead of a nuance.

She now understands that national politics will henceforward "a blood sport".

We got some more great talent/courageous folks for President, but for right now...let's concentrate on congress critters on OUR side.

Ping| 3.23.10 @ 10:35PM

he's still running around defending that monstrosity. That's why he shouldn't even bother to run for the GOP nomination again w/o some major repenting first...and a personality transplant.

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Kugou11| 4.12.10 @ 4:23AM

When Bush's tax cuts for the wealthiest of Americans expire all our financial problems will vanish. And if that doesn't work the dems can just deem there's no problem and blame Bush.health blog

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