Obama Administration making plans to take over nation’s 401(k)s to bail out their union backers and their bankrupted pension plans.

House Republican Leader John Boehner (R-OH) and members of the House GOP Savings Solutions Group sent a letter to Labor Secretary Hilda Solis and Treasury Secretary Timothy Geithner warning the Obama Administration that the government should keep its hands off of the retirement savings of Americans, and should reject proposals that would dismantle or nationalize the private 401(k) system in favor of a government-run retirement security regime. Several Administration officials, including the Vice President, have voiced support for efforts to create so-called “Guaranteed Retirement Accounts” or impose new government mandates which would undermine 401(k) retirement savings plans and jeopardize employers’ willingness to continue offering them to their workers.

Read the whole thing

Why We Have a Health Care Cost Problem and Why It Will Only Get Worse

Find out here

Health Reform’s Hidden Victims

Young people and seniors would pay a high price for ObamaCare.

By JOHN FUND

Wall Street Journal, July 24, 2009

President Barack Obama’s health-care sales pitch depends on his ability to obfuscate who is likely to get hurt by reform. At Wednesday’s news conference, for example, he was asked “specifically what kind of pain and sacrifice” he would ask of patients in order to achieve the cost savings he promises.

He insisted he “won’t reduce Medicare benefits” but instead would “make delivery more efficient.” The most Mr. Obama would concede is that some people will have to “give up paying for things that don’t make you healthier.” That is simply not credible.

While Democrats on Capitol Hill dispute claims that individuals will lose their existing coverage under their reform plans, on other issues many Democrats privately acknowledge some people will indeed get whacked to pay for the new world of government-dominated health care.

Democrats have been brilliant in keeping knowledge about the pain and sacrifice of health reform from the very people who would bear the brunt of them. They’ve done so by convincing health-care industry groups not to run the kind of “Harry and Louise”-style ads that helped sink HillaryCare in 1993.

Sen. Tom Coburn (R., Okla.) says the pressure not to run ads has been “intense, bordering on extortion.” “Groups were told if they did they’d give up their seat at the table,” says former House Speaker Newt Gingrich. “What they weren’t told is that they’d be at the table as lunch.”

Here are some of the groups on the menu if anything like the existing Senate or House health plans become law:

The article discusses each of these

• Young people.
  
  
• Small Businesses.
  
  
• Health Savings Account (HSA) holders
  
  
• Medicare Advantage users.

And then it finishes with this warning:

In 1965, Sen. Allen Ellender (D., La.) dismissed promises that Medicare would be a modest program to save seniors from bankruptcy. “Let us not be so naïve as to believe that the Medicare program will not be increased from year to year to the point that the government will have to impose more taxes on the little man or else take the necessary money out of the Treasury,” he told colleagues.

Ellender was right, and his warning is even more relevant in our era of skyrocketing deficits and Medicare costs. The only way the House and Senate health plans can pass is if the costs they impose on vulnerable parts of the population continue to be hidden.