Horror! Obamacare Adds Another Half Trillion to Record Obama Deficit
And here he told us Obamacare would cut costs.
A new study reveals that Obamacare will add another half trillion to the already out of control Obama deficit.
President Barack Obama’s healthcare law could sharply exceed its cost-savings targets and add up to $530 billion to the federal budget deficit, a leading authority on U.S. government benefit programs said on Tuesday.
A study by Charles Blahous, a George Mason University research fellow and the Republican trustee for the Medicare and Social Security entitlement programs for the elderly, challenges the administration’s contention that the 2010 law would better keep healthcare costs in line.
Known as the “Affordable Care Act,” or “Obamacare,” the measure to expand health insurance for millions of Americans is considered Obama’s signature domestic policy achievement.
The Supreme Court is currently weighing whether Congress overstepped its authority to regulate commerce in approving the law. The justices heard arguments in the high-stakes case two weeks ago.
Republican presidential candidates have promised to repeal the law if one of them wins the White House in the November election. Conservatives denounce the standard as an unwarranted government intrusion.
A White House official could not immediately be reached for comment.
There’s no bigger spender than Barack Obama. He tripled the deficit his first year in office and never looked back.
(J. Hoft Chart)
In fact this year will be the fourth year in a row that the US deficit will top $1.1 trillion and is expected to reach $1.33 trillion – another Obama record.