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Posted by on May 10, 2019 in 2020 Presidential Election, At TMV, Politics | 0 comments

“Democratic Presidential Campaign Is A Clown Car”

In her 4 May 2019 Saturday Night Live impersonation of Elizabeth Warren, Kate McKinnon describes the 2020 Democratic presidential campaign as being a clown car.

McKinnon as Warren: “I mean what a frickin clown car I’ve found myself in.”

The truth of those words is evident in what Democratic presidential candidates are promoting.

Let’s start with Elizabeth Warren. She is offering voters a non-existing free lunch.

It is as if Warren were impersonating cartoon character Timmy Turner.

The value of a college education is due (at least in part) to every adult not having a college education. That is because the law of supply and demand applies to the job market.

If the job market becomes saturated with people with college degrees, then jobs requiring college degrees will lose value. This is especially true if people earn degrees in fields that have little job demand.

MAD magazine once illustrated this fact.

One of the magazine’s segments featured a man who hailed a taxi and and insisted that the taxi driver hurry. The man explained that he was on his way to celebrate the PhD that he had just received. The taxi driver replied, “Yeah, I remember when I received my PhD.”

If there are way more people with college degrees than jobs requiring college degrees, then people with college degrees will find themselves serving coffee at Starbucks or driving for Uber.

Perhaps Warren should leave the impersonating to Kate McKinnon.

If Warren wants to raise federal taxes in order to pay for something, then she should concentrate on paying down the federal debt.

The U.S. Government Accountability Office states, “The nation’s unsustainable fiscal path is not just something that we are predicting for the future: it is happening now. . . over the past 3 years, spending has increased more rapidly than revenues have. “

. . . and . . .

“At the end of fiscal year 2018, the total federal debt was $21.6 trillion dollars.”

The federal debt certainly won’t be paid down by offering Medicare for all, as Democratic presidential candidates are offering. Apparently, they are clueless about Medicare’s fiscal health.

Here is an excerpt from a 23 April 2019 report from Healthcare Finance News, a publication of the Healthcare Information and Management Systems Society:

The Hospital Insurance Trust Fund will run out of money in seven years, the Medicare Board of Trustees said in its annual report.

This year’s report found that the HI Trust Fund will be able to pay full benefits until 2026, the same as what was predicted in last year’s report.

The trustees oversee Medicare’s two separate trust funds, the Hospital Insurance (HI) Trust Fund, which funds Medicare Part A, and the Supplementary Medical Insurance (SMI) Trust Fund, which funds Medicare Part B and D.

The trustees have determined that the fund for hospitalization coverage is not adequately financed over the next 10 years. Income going in is projected to be lower due to a decrease in payroll taxes and income from the taxation of Social Security benefits. Expenditures are also projected to be slightly higher.

With Medicare for All an election issue in 2020, Centers for Medicare and Medicaid Services Administrator Seema Verma used the report to point out that current funds can’t cover the 60 million seniors and disabled beneficiaries who currently count on Medicare for healthcare coverage, let alone all Americans.

Perhaps the Democratic clown car will go away now that Joe Biden has announced his presidential candidacy.

In this blogger’s opinion, Biden isn’t among the Democratic Party’s usual gang of idiots. However, it would be interesting to see Kate McKinnon’s impersonation of Biden.

Oh, don’t doubt that she could pull off such an impersonation. She is that good. If you don’t believe it, then watch this: