There is no such thing as a temporary entitlement.
There is no such thing as a temporary entitlement that ever costs less than the government estimates.
To wit: Here is yet another shining example of Obama “efficiency” that tells you all you need to know about Obamacare projections and promises:
When Congress passed an $8,000 tax credit for first-time home buyers last winter, it was intended as a dose of shock therapy during a crisis. Now the question is becoming whether the housing market can function without it.
As many as 40 percent of all home buyers this year will qualify for the credit. It is on track to cost the government $15 billion, more than twice the amount that was projected when Congress passed the stimulus bill in February.
In the view of the real estate industry and some economists, all that money is well spent. They contend the credit is doing what it was meant to do, encouraging a recovery in the housing market that is gathering steam. Analysts say the credit is directly responsible for several hundred thousand home sales.
Skeptics argue that most of the money is going to people who would have bought a home anyway. And they contend that unless it is allowed to expire on schedule in late November, the tax credit is likely to become one more expensive government program that refuses to die.
And speaking of massively expensive government programs that will inevitably become more expensive:
The much-ballyhooed, long-wrangled-over Baucus health care proposal (PDF), which has largely become President Obama’s blueprint for remaking an industry that accounts for about one-sixth of the American economy, is now public. Only to be wrangled over some more.
The proposal is the result of more than a year of preparation and more than three months of intense negotiations between a small group of Democrats and Republicans led by Senator Max Baucus, Democrat of Montana, the chairman of the Finance Committee.
The first surprise in the Baucus plan: a slimmed down price-tag of $856 billion over 10 years. Earlier versions of the health care legislation had come in costing $1 trillion or more. But stay tuned for a close look at the fine print; Congressional budget-scoring is often as much art as science.
Another number to watch: 13 percent. That’s the share of family income that the Baucus plan envisions middle-class American families having to pay in health insurance premiums before co-payments, deductibles and other cost-sharing.
Via ABC: Democrat Sen. Rockefeller warns of “big, big tax” to pay for Obamacare…
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