GAO: Obamacare is Increasing Long-term Deficit by 6 Trillion
Obamacare is one of the most incoherent, disastrous policy proposals the US has had in years. It’s tremendously long, convoluted, confusing, and increases untold amounts of regulations on the already insanely regulated health-care market. The end result is more national debt, more expensive insurance, and confused statists who will demand that the solution to the new problems is Obamacare 2.0. Absurd.
To that point, the Government Accountability Office just released a new report that confirmed what free-market believers have been saying for years… Obamacare is going to radically increase our deficit, and is structurally pushing our economy off a cliff. A deficit cliff that is $6 trillion time larger. Here’s a video discussing the report:
Of course, here’s what Obama said, from WhiteHouse.gov, no less (emphasis mine):
And here’s what you need to know. First, I will not sign a plan that adds one dime to our deficits — either now or in the future.
I will not sign it if it adds one dime to the deficit, now or in the future, period. And to prove that I’m serious, there will be a provision in this plan that requires us to come forward with more spending cuts if the savings we promised don’t materialize.
Now, part of the reason I faced a trillion-dollar deficit when I walked in the door of the White House is because too many initiatives over the last decade were not paid for — from the Iraq war to tax breaks for the wealthy.
I will not make that same mistake with health care.
We have a word for people like Obama: liar.
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