Health Care and the Dollar

Carol Platt Liebau
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Posted: Oct 08, 2009 3:43 PM
Worries are mounting over the increasing weakness of the US dollar.  From a piece in The Hill:

Lawmakers say there is a real danger of foreign investors losing faith in the dollar as a secure instrument if the nation’s debt continues to mount and the Federal Reserve fails to reabsorb trillions in commitments to help the economy and restore lending.

Note that part about "if the nation's debt continues to mount" -- and then note, as the Heritage Foundation has pointed out below, that the supposedly "positive" CBO estimate is nothing but a preliminary analysis of concepts that haven't even been assembled into final legislation.

And then ask yourself whether it seems at all likely (a prospect that even CBO seems to doubt) that all the most favorable assumptions of the Baucus' bill's proponents will come to pass.

Just the nightmarish bureaucracy and diminished care ensuing from health care "reform" is plenty of reason to oppose it with fervor.  But it's also a terrible idea insofar as the deficits it will incur will also help damage the US' international economic standing.