As a candidate, Obama also made this promise: “I will sign a universal health-care bill into law by the end of my first term as president that will cover every American and cut the cost of a typical family’s premium by up to $2,500 a year.” Again, this is not a “right-wing talking point,” nor is it a slur cooked up by an intransigent conservative movement intent upon destroying the president at all costs. It is a verbatim pledge that the candidate made to the American people on camera over and over and over and over again — so often, in fact, that the New York Times ran an entire feature on the “audacious promise” that was submitted in “speech after speech.”
Looking back, it is amazing that Obama wasn’t laughed off the stage at the outset. His central claim — that premiums would drop for the typical family by $2,500 — could literally have been taken from the back of an envelope. As the New York Times explained back in 2008, the $2,500 number came from economist David Cutler, who predicted that Obamacare would reduce all health-care spending by $200 billion a year. Candidate Obama, looking for a good sound bite, simply divided this number by the number of families in the United States; then, calculating inexplicably that total health-care spending and family health-insurance premiums were exactly the same thing, he concluded that all money saved would be returned to the people. That Obama considered this a reasonable way of selling a plan that reorganized one-sixth of the economy betrays either a fundamental economic illiteracy or a deeply troubling readiness to mislead. (emphasis added).
The last sentence in bold above actually demonstrates President Obama is both an economic illiterate - after all, this man thinks the term "P/E Ratio" stands for PROFITS to EARNINGS Ratio and not PRICE to EARNINGS Ratio - and a liar.
As the old joke goes, "How can you tell if President Obama is lying?"
James L. Salmon, Esq.
300 Pike Street
Cincinnati, Ohio 45202
Summary of Services and James L. Salmon's CV
Collaborative Construction Website
No Silos Website