By Greg Hunter’s USAWatchdog.com
The country has lost one of the most influential members of the U.S. Senate in the last 50 years. Ted Kennedy was called the “Lion of the Senate” for good reason. Even though he was a staunch Republican opponent, he was also known as the “go to” member of the Senate to get bipartisan support for legislation. Few of Kennedy’s big bills did not have at least one big name Republican sign on to it. This morning, I heard Hard Ball host Chris Matthews say on television he did not see anyone in the Senate with his “stature” and that the President “didn’t really have a quarterback on the field that could carry out the play.” Still, Ted Kennedy will probably serve the Democrats in death on the health care legislation. The health care reform bill will now likely bare Kennedy’s name, at least that’s what Democratic leaders in the Congress are saying today. In a statement, the Speaker of the House, Nancy Pelosi said, “Ted Kennedy’s dream of quality health care for all Americans can be made real this year because of his leadership and his inspiration.” Pelosi is planning to push the legislation that the late Senator called “the cause of my life.”
But not all Democrats are as optimistic as Pelosi. Just last week, according to the Lakeland Times in Wisconsin, Senator Russ Feingold told a large crowd in his state, “Nobody is going to bring a bill before Christmas, and maybe not even then, if this ever happens.” He reportedly went on to say, “We’re headed in the direction of doing absolutely nothing and I think that’s unfortunate.”
On top of that, there was more bad news on the economic front according the White House budget Chief Peter Orszag. He says because the recession was deeper and longer than expected, unemployment will surge to more than 10 percent and the budget deficit will be 1.5 trillion dollars next year. That is more than 3 times bigger than the Bush administration deficit in 2008. A far as the real unemployment rate, John Williams at Shadowstats.com says it is already 20.6 % figured the way the government did it before 1994. Williams says within the next 2 years unemployment will soar to 34%. Yes, he told me 34%!
Couple the ballooning deficit and skyrocketing unemployment along with declining tax revenues and the Obama health care plan will have a hard time finding funding. This bill will likely collapse under its own financial weight not to mention most of the public is against it. Sorry, Ted.