How many people would willingly invest everything they own with someone who has a lengthy track record of being 100% wrong on every single prediction? Any sane investor would stay miles away from anyone with such a history. However, that’s the case with anyone who believes a single financial fact touted by our rulers in DC.
Job losses, early retirements hurt Social Security – This is just one more reminder that, whenever our rulers in DC predict the costs and finances of a government program, they are off by huge magnitudes. The naive way to look at this fact would be to assume that they just made honest miscalculations. The more realistic assessment is that they lied through their teeth in order to sell the programs, knowing full well that nothing could be done to them when the truth became clear.
That is exactly what we are facing today. Every single one of the cost figures being used in the current fight to socialize health care is being intentionally understated so as to con gullible people into accepting it. By the time the truth emerges that the actual costs are hundreds of times more than promised, just as with Social Security and Medicare, the politicians responsible for selling the programs will be long gone and the people too dependent on it to ever go back.
Tax Guru - Ker$tetter Letter 