Elections Have Consequences – Default Being One

24 Nov

Now comes the time to pay the piper…

A nicer term for what’s about to sock the middle class is ‘entitlement reform.’

One way or another, then, entitlements will be cut. Don’t call it default. The correct term is entitlement reform

You saw this day coming and saved for your own retirement. Don’t call it default when Washington inevitably confiscates some of your savings, say, by raising taxes on dividends and capital gains. Taxpayers accept the risk of future tax hikes that may make the decision to save seem foolish in retrospect.

Here’s what you weren’t told about Medicare during the presidential debates. Under the Paul Ryan plan, the affluent would pay more. Under the Obama plan, the affluent would flee Medicare to escape the waiting lists, shortages and deteriorating quality as Washington economizes by ratcheting down reimbursements to doctors and hospitals. Don’t call either default. You don’t have a legally enforceable right to the free care you imagined you were promised.

This will come as something of a surprise to those who “love” Obamacare…

WSJ

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