The Fearmongerer in Chief warned today that unless the democrats pass their nationalized health care boondoggle this year the US will go bankrupt.
ABC has the video.
President Obama told ABC News’ Charles Gibson in an interview that if Congress does not pass health care legislation that will bring down costs, the federal government “will go bankrupt.”
The president laid out a dire scenario of what will happen if his health care reform effort fails.
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“If we don’t pass it, here’s the guarantee….your premiums will go up, your employers are going to load up more costs on you,” he said. “Potentially they’re going to drop your coverage, because they just can’t afford an increase of 25 percent, 30 percent in terms of the costs of providing health care to employees each and every year. “
Actually, the truth is that the US will go bankrupt if Obama and democrats keep tripling the national deficit every year like they did last year.
Obama increased the national debt to $12 Trillion.
And he nearly doubled the unemployment rate since Bush was in charge with his failed Stimulus Plan.
Earlier this week Obama said Republicans “need to stop trying to frighten the American people.”