WASHINGTON, D.C. | June 30, 2010 -
More than a year ago, President Obama declared national health care spending had placed the country “on an unsustainable course that threatens the financial stability of families, businesses and government itself.” The president described health care reform as a “necessity that cannot wait.”
Despite overwhelming public opposition, Democrats forced their government takeover of health care through Congress on the promise it would bring down costs.
Yet today, the non-partisan Congressional Budget Office provided the latest warning that despite the Democrats’ government-run health care plan, rising costs will continue to pressure already struggling American taxpayers. According to the latest CBO report:
“CBO projects that if current laws do not change, federal spending on major mandatory health care programs will grow from roughly 5 percent of GDP today to about 10 percent in 2035 and will continue to increase thereafter.
“Those projections includes all of the effects of the recently enacted health care legislation, which is expected to increase federal spending in the next 10 years and for most of the following decade. …
“Because health care costs will account for a significant share of the federal budget under current law, and the growth of those costs is a major contributor to the long-term pressures facing the country, policy options to restrain the growth of federal spending on health care will continue to attract considerable interest.” (Congressional Budget Office, “The Long-Term Budget Outlook,” June 2010, pages ix and 44)
The CBO report is the latest in a series of public discoveries that describe how ObamaCare fails to live up to one of its most fundamental promises: lowering health care costs. In fact, just last night, The Associated Press reported the Democrats’ high risk pools will offer coverage at a cost that “will be a stretch for many” and noted an earlier CBO study that estimated the program will need an additional $5 to $10 billion to deliver coverage to all eligible individuals.
Congress must repeal ObamaCare and its unsustainable costs, and replace it with commonsense proposals to expand access to affordable health care for all Americans.