Some
may have heard or read about a newly issued Congressional Budget Office
report that suggests Obamacare (CBO) will cost $950 billion while
lowering federal deficits by $138 billion. If this sounds a bit flaky,
it is. A former CBO director and author of the linked article explains
why. The basic problem is that the way laws are written by congress
tie CBO's hands as to how they can conduct their analysis. This is why
proponents of laws always tout CBO numbers to support for their
legislation. And, as most of us know those numbers always prove to be
wrong as actual costs always end up being far more than original
projections. Regarding the true costs of Obamacare here is a quote from
the article: "The stakes could not be higher. As documented in another
recent budget office analysis, the federal deficit is already expected
to exceed at least $700 billion every year over the next decade,
doubling the national debt to more than $20 trillion. By 2020, the
federal deficit — the amount the government must borrow to meet its
expenses — is projected to be $1.2 trillion, $900 billion of which
represents interest on previous debt." He adds that Obamacare "would
only increase this crushing debt."
George Burns
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