US Will Go Bankrupt Even Faster Now

source: blog.civilchallenger.com

By some measures the USA government is already bankrupt, such as how federal government is essentially living off of debt. Now that the US health reform bill has passed I strongly expect the USA to go bankrupt even faster. The bill is a 2,100 page monster, but a blogger noted it would 'only' be 380 pages long if printed using more traditional spacing and margins. A point of interest is which parts of the bill are actually authored by for-profit corporations and which were written directly by members of congress. Any parts written by for-profit corporations would make the entire thing fascist from my perspective but I have yet to see the facts on that question and frankly don't have time to research that.

The total cost of the health care reform is estimated to be $94 billion per year (roughly $310 per person including every man, woman, and child in the US) according to the CBO as noted by areview of a recent CBO report by The Hill blog. The total tax increase in the package is estimated at $107 billion per year($360 per person) over the next ten years, however. At face value that would suggest that the US government will actually be less bankrupt, but its a fairly widespread tradition for all governments to spend 2 to 3 times what it has initially budgeted for a new project, so I consider it more realistic to predict the government will become bankrupt faster as a result of this health care package.

Not to say most people will have to pay extra taxes. Most people may not. The additional taxes are mostly on the top 1% earners of the population according to the "The Hill" source. I expect that extra 1% to cause faster "brain drain" on the US economy, which is expected to shift from a state where intelligent individuals flock to the US for its opportunities, to a state where intelligent individuals flock to Hong Kong and other places to which opportunities are moving. In fact just last year I met a business school student who was very enthusiastic about moving into Asia after his schooling was complete. That extra 1% tax gives new students just that much more incentive to avoid moving to the US or even move away from the US if already there. None the less, its much less offensive to me to additionally over-tax the rich than it is to over-tax the poor. I define "overtaxed" as a tax rate exceeding 30% of income though my my idealized world the income tax rate is exactly 0%.

The Joint Economic Committee and the House Ways & Means Committee has estimated it will need an additional 16,500 new IRS personnel to do work related to the just-passed health care legislation. These 16,500 people will not be producing something of value for the economy such as food, clothing, and shelter. Therefore, they will simply be a drain on the economy by producing nothing but consuming an especially large amount of resources as government workers.

While health insurance purchases will now be mandatory, widespread resistance will be in effect. I know of many people who will refuse to purchase health care insurance, but I have not questioned them too much about what they'll do when the police move in to seize their house or government mafia agents attempt to garnish wages.

The additional IRS employees would be a small fraction of the spending increase. Medicare would be expanded to include a vast number more people.

(continued)...

I'm not nit picking here, this is a genuine question. Can sovereign nations actually declare "Bankruptcy" ?

Caterpillar, Inc recently claimed their health care costs for their company will increase by $100 million as a result of the reform which people who voted for the legislation claimed would lower health care costs. What this suggests of course its that more jobs will be exported overseas as a result of the increase and those that are not shipped overseas will result in higher prices for consumers for most or all products. The reform makes insurance a mandatory product purchase and therefore companies will be required to insure all their employees. Its very likely this may work to create a black market for products which don't have excessive burden due in part to employees who do not need or want the insurance simply starting "underground" businesses that don't have such frivolous overhead.

Roughly half of doctors in the US in various studies have claimed they would consider quitting if health care passes. There are a large number of articles about this but none of them that I have seen have indicated specifically why this would be. More research into that area is surely warranted now!


This is part of today's blog. I'm posting it to ATS to bring attention to my blog.civilchallenger.com website, which I put enormous research efforts into but since I've never tried to promote it until just now, gets about one reader a week.

[edit on 22-3-2010 by civilchallenger]

Originally posted by belial259
I'm not nit picking here, this is a genuine question. Can sovereign nations actually declare "Bankruptcy" ?

bank·rupt   /ˈbæŋkrʌpt, -rəpt/ Show Spelled[bangk-ruhpt, -ruhpt] Show IPA
–noun
1.Law. a person who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court and whose property is administered for and divided among his or her creditors under a bankruptcy law.
2.any insolvent debtor; a person unable to satisfy any just claims made upon him or her.
3.a person who is lacking in a particular thing or quality: a moral bankrupt.

When I use "bankrupt" I usually mean #3, so I'm using the most rare case. I can see why you'd have that question.

reply to post by civilchallenger


When China decides it wants its money you will be using number 1. Great thread a very interesting read.

Originally posted by civilchallenger
Caterpillar, Inc recently claimed their health care costs for their company will increase by $100 million as a result of the reform which people who voted for the legislation claimed would lower health care costs. What this suggests of course its that more jobs will be exported overseas as a result of the increase and those that are not shipped overseas will result in higher prices for consumers for most or all products. The reform makes insurance a mandatory product purchase and therefore companies will be required to insure all their employees. Its very likely this may work to create a black market for products which don't have excessive burden due in part to employees who do not need or want the insurance simply starting "underground" businesses that don't have such frivolous overhead.

Roughly half of doctors in the US in various studies have claimed they would consider quitting if health care passes. There are a large number of articles about this but none of them that I have seen have indicated specifically why this would be. More research into that area is surely warranted now!


This is part of today's blog. I'm posting it to ATS to bring attention to my blog.civilchallenger.com website, which I put enormous research efforts into but since I've never tried to promote it until just now, gets about one reader a week.

[edit on 22-3-2010 by civilchallenger]

Its sad t hat you put that much effort into it and then talk about false things like 50% of doctors would quit if this passes.

Here is some cool stats from my last mens health that were fitting I thought.

Number of hospital bills that have an error 4 in 5.

Have a heart attack in a hospital and you have a 1 in 3 chance of living. Do it in a casino and it becomes 1 in 2.

Percentage of bankruptcies causes by medical expenses? 62% Number of who is insured out of that group? 78%

I'm not saying that this will fix the problems 100% or even 90% but stuff needs to be done. Why are people more upset about getting every person proper health care services instead of bailouts and wars/corruption? Because the medias tells you to be and people are a bunch of sheep.

Originally posted by civilchallenger
When I use "bankrupt" I usually mean #3, so I'm using the most rare case. I can see why you'd have that question.

I was thinking more..... I believe you call it chapter 11? Which would be closer to 1 than 3.

From the way Africa looks though it doesn't seem to be possible. I think IMF loans and austerity measures may be a sovereign debtors version of bankruptcy.

I'm struggling to think of a better word for it. Maybe there isn't one. What do you call it when someone has more liabilities than assets and can't pay the interest? Insolvency maybe?


[edit on 22-3-2010 by belial259]

I didn't read any posts just saw the title and wanted to say what I thought.

This is a personal story of someone very close to me, but do to a promise I made I'm saying that it is my case.

For the past three years I have been slipping on payments for everything because my business wasn't doing so well. I fell behind on payments, sold most of my stuff to stay afloat, borrowed money from people I shouldn't have. My interest got so bad that even when things started to even out with my business I was still going down the hole. Eventually when it came to the bank almost reclaiming my car and house I filed for bankruptcy.

America is getting to the point where they will have no choice to file for bankruptcy, or risk never getting out of the hole again.

Originally posted by whoshotJR

Originally posted by civilchallenger
Caterpillar, Inc recently claimed their health care costs for their company will increase by $100 million as a result of the reform which people who voted for the legislation claimed would lower health care costs. What this suggests of course its that more jobs will be exported overseas as a result of the increase and those that are not shipped overseas will result in higher prices for consumers for most or all products. The reform makes insurance a mandatory product purchase and therefore companies will be required to insure all their employees. Its very likely this may work to create a black market for products which don't have excessive burden due in part to employees who do not need or want the insurance simply starting "underground" businesses that don't have such frivolous overhead.

Roughly half of doctors in the US in various studies have claimed they would consider quitting if health care passes. There are a large number of articles about this but none of them that I have seen have indicated specifically why this would be. More research into that area is surely warranted now!


This is part of today's blog. I'm posting it to ATS to bring attention to my blog.civilchallenger.com website, which I put enormous research efforts into but since I've never tried to promote it until just now, gets about one reader a week.

[edit on 22-3-2010 by civilchallenger]

Its sad t hat you put that much effort into it and then talk about false things like 50% of doctors would quit if this passes.

Here is some cool stats from my last mens health that were fitting I thought.

Number of hospital bills that have an error 4 in 5.

Have a heart attack in a hospital and you have a 1 in 3 chance of living. Do it in a casino and it becomes 1 in 2.

Percentage of bankruptcies causes by medical expenses? 62% Number of who is insured out of that group? 78%

I'm not saying that this will fix the problems 100% or even 90% but stuff needs to be done. Why are people more upset about getting every person proper health care services instead of bailouts and wars/corruption? Because the medias tells you to be and people are a bunch of sheep.

There were two or three surveys submitted to doctors that I know of. Roughly half of doctors said they would consider quitting if the health care reform passed. That doesn't necessarily mean any of them at all will quit... but only consider it. I think that is a very important point and I just may call up some doctors at random and find out why this would be. If the doctors are saying that they'll consider quitting on the surveys then maybe there is something to it and I don't like how you write it off. I think it needs to be looked into carefully. I have no idea why a doctor would quit over this so its hard for me to believe but surely I have to look into that.

As for the bankruptcies of so many people that have health insurance, do you still have the link to that source? That is bizarre to me.

As for why people were less upset by the bankster bailouts than health care reform I'd sure like to know that myself. People rarely if ever think reasonably when it comes to politics.

I appreciate all the responses to my blog and especially the civil tone. I think I'll make it a point to post more of my blog entries here.

reply to post by civilchallenger


All the "facts" were posted in the back of this months men's health. I will see if they list a source in it someplace. I have not verified them but they were pretty concerning. Housing market and bad loans was what I thought cause the most bankruptcies I wouldn't have pictured health care.

If I remember correctly that survey was not that they would consider quitting but consider retiring. The important part of the survey was that it was sent to like 2200 people and only half thought it was important enough to even respond to.

Bankrupt?

LOL!!! Your NWO Corporate Masters had long bankrupt USA and the world in the name of corporate greed at the cost of human lives, american or non americans!

Now we can finally euthanize the undesirables legally.

Move on mission accomplished not only are we stealing from our own people but Mexico's people! Life is good. The slaves deserve every ounce of pain and misery we visit upon them.
When times get tough, we decide who gets health care.
If you don't like it we got black helicopters and assault rifles with police uniforms that will make you like it.
Power comes from the end of a gun.

MMMMMM can you taste the power.