Students, Beware! How Obama's "Plans" May End Up Costing Young People Most

With just 67 days until the general election on November 4, 2008, it is the responsibility of the American public to educate themselves on who is best to represent the US for the next 4 years. The Dems have chosen Mr. Obama and Mr. Biden, the Republicans, Mr. McCain and Mrs. Palin. This election cycle, students represent a dynamic and critical constituency who seem overwhelmingly in favor of the former - a Harvard University School of Politics poll found that while 32% support Mr. McCain, 55% support Mr. Obama (Harvard University, 2008).
Below, I've outlined just 5 of the numerous reasons why that 55% should rethink their decision to support Mr. Obama:

1. Healthcare
Mr. Obama's healthcare plan is referred to as a "community rating" program and seeks to ensure all Americans pay the same premium on health insurance. The downside? Healthier and younger Americans will end up paying for the health care of older people - at a huge financial cost. I, for one, am not yet in a position where I can pay for someone else's healthcare. Additionally, Mr. Obama's plan prohibits high-deductible, low cost insurance plans, making it increasingly hard for young people just entering the workplace to afford insurance on their own. This may force many young people to forego purchasing insurance in the first place.

2. Social Security
Our country's SS taxes are already incredibly high - especially in relation to the benefits received. Despite early support to keep all options on the table, Mr. Obama now opposes a plan to allow young people to invest their social security taxes in a separate account to make money over time. The program is facing a troubling future - some suggest future obligations of SS could add up to more than $15.3 trillion dollars. What does this mean for you and me? We will either face a massive tax hike to pay for other people's social security, or we will face a dramatic decrease in benefits when it comes time for us to retire and collect.

3. Medicare
Medicare's anticipated debt is even higher than Social Security's - some suggesting it may equal more than $70 trillion. Despite a multitude of concerns about the future viability of this expensive program, Mr. Obama opposes most, if not all, Medicare reforms and in fact wants to increase benefits of the prescription drug program. Translation? Another massive tax hike for young voters.

4. Government Budget and Debt
Congressman Wayne Allard (R-Co.) proposed an amendment last Spring aimed at demonstrating just how much all of Mr. Obama's programs would cost. The total? Approximately $1.4 trillion dollars over 5 years - that's only including Mr. Obama's universal healthcare program, eliminating income taxes for seniors, and "expanding" the army (Source: Politico.com).
Without Mr. Obama's programs, the Congressional Budget Office estimates that in the near future, the government could consume nearly 35% of our Gross Domestic Product (GDP). According to columnist Michael Tanner, "Paying for a government that size would require raising both the corporate tax rate and top income tax rate from their current 35% to 88%, the current 25% tax rate for middle-income workers to 63%, and the 10% tax bracket for low-income workers to 25%. The impact on workers, businesses and the economy at large would be catastrophic" (Tanner, 2008, New York Daily News). Tanner goes on to say that "Far from restraining the growth of government, Mr. Obama is proposing program after program of new spending. According to the most recent tally from the National Taxpayers Union, he has laid out $343 billion per year in new government spending" (Tanner).
Furthermore, Mr. Obama has no plans to eliminate or even reduce the budget deficit. "Now I want to go ahead and tell you the truth, which is, we will not eliminate the deficit or the national debt in the next four years, or even in the next eight years" (Sen. Barack Obama, Remarks At A Campaign Event, Fairfax, VA, 7/10/08).
In another article, it is reported that "[Elizabeth Sperling] says the key difference between the two candidates' proposals is that [Sen. Hillary] Clinton has been more conscientious and rigorous about finding specific, realistic ways to pay for her plans. 'There is a significant gap between Sen. Clinton and Sen. Obama on the fiscal responsibility of their proposals,' says Sperling. 'She felt very much that when you're talking to people you need to be able to look them in the eye and tell them very specifically where's the beef.' Sperling notes Mr. Obama estimates it would cost about $85 billion a year to deliver the three tax cuts he's proposed that Clinton hasn't - for seniors, for payroll taxes, and another that would allow a mortgage-interest tax credit for non-itemizers. The cost of Obama's tax cuts has raised eyebrows not only in Clinton's camp. Leonard Burman, director of the Tax Policy Center in Washington, a joint venture of the Urban Institute and Brookings Institution, says he is concerned that both candidates have promised too much at a time 'when we know our fiscal situation is bad and getting worse.'" (Elizabeth Auster, "Clinton, Obama Plans Are Similar," [Cleveland] Plain Dealer, 2/24/08)

5. Foreign Policy
Mr. Obama's relative lack of experience is easy to ignore in the face of all that charm and lofty and un-ignorable rhetoric. However, behind that polished facade is someone who has been in the Senate less than 1 term (in fact, he has only served about 170 days), was in the Illinois state senate before that, and previously was a "community organizer" - whatever that is. Which of those prepare him best for Foreign Policy issues? "None" was Mr. Obama's answer. Instead, Mr. Obama pointed to his 4 years living in Indonesia. Was he an ambassador? A diplomat? Neither. Mr. Obama wasn't even a teenager when his family moved to the island nation for their brief tenure there. Even Senator Hillary Clinton has criticized Obama's lack of experience. From Time Magazine last year: "Voters will judge whether living in a foreign country at the age of 10 prepares one to face the big, complex international challenges the next President will face," Clinton, the former First Lady who has spent seven years on the Senate Armed Services Committee, told supporters Nov. 20 in Shenandoah, Iowa. "I think we need a President with more experience than that." (Time, December 2007).

Judge for yourselves, but it seems those are 5 major drawbacks to Senator Obama as a presidential candidate. Certainly both candidates have their flaws, negatives, and points of disagreement - as does anyone - but Mr. Obama's seems perversely anti-youth. I'd rather not gamble on a risk like Senator Obama.