WASHINGTON, D.C. | April 10, 2012
Just moments before President Obama signed into law his government takeover of health care, he promised
“This legislation will also lower costs… for the federal government, reducing our deficit by over $1 trillion in the next two decades. It is paid for. It is fiscally responsible.”
Not so says a new report released this morning by George Mason University’s Mercatus Center. According to an analysis by Charles Blahous, public trustee for Medicare and Social Security, the reality of ObamaCare is it will add to the federal deficit, not reduce it. As the findings of the study make disturbingly clear, the president’s health care law:
- Adds between $346 and $527 billion to the federal deficit over the next ten years;
- Leads to an estimated $1.16 to $1.24 trillion in new government spending during the same ten year window; and
- Exacerbates federal deficits and “increases a federal commitment to health care spending that was already unsustainable.”
Mr. Blahous’ analysis presents an ominous warning that the health care law has “unambiguously worsened the federal government’s fiscal position.” This is the latest reminder of the president’s many broken health care promises.
At a time when Washington D.C. is already running trillion dollar deficits, today’s report confirms ObamaCare is a government takeover that America’s taxpayers and future generations cannot afford.
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