Wednesday, April 11, 2012

Obama Breaks Promise, Adds Billions to Deficit

It appears President Obama has reneged on his promise, “I will not sign a [health care] plan that adds one dime to our deficits — either now or in the future."

President Obama’s landmark health-care initiative, long touted as a means to control costs, will actually add more than $340 billion to the nation’s budget woes over the next decade, according to a new study.

“Does the health-care act worsen the deficit? The answer, I think, is clearly that it does,” Blahous, a senior research fellow at George Mason University’s Mercatus Center, said in an interview. “If one asserts that this law extends the solvency of Medicare, then one is affirming that this law adds to the deficit. Because the expansion of the Medicare trust fund and the creation of the new subsidies together create more spending than existed under prior law.”

"Double Counting"

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