President Obama sold the voters a bill of goods on Obamacare. In obvious defiance of the facts, the administration claimed that Obamacare would help solve the federal government’s budget crisis, and enlisted the Congressional Budget Office in its effort. The administration gave the CBO a number of bogus assumptions that CBO was required to work with, and in its most transparent ploy, told the CBO to model a ten-year window that included ten years of taxes but only six years of spending. Voila! The CBO ran the numbers and issued a report that showed Obamacare in the black.
No sentient being believed it, however. Now Jeff Sessions, Washington’s indispensable man, has asked the Government Accountability Office to do a more honest calculation that isn’t confined to the administration’s artificial six-versus-ten time frame. The GAO report, which came out this morning, is here. The bottom line is that Obamacare blows another hole in the federal budget. The GAO found that over a 75-year simulation, Obamacare increases the federal debt by .7% of GDP:
That amounts to $6.2 trillion in current dollars. Nice going, Barry. And for all of that, we get lousy government medicine.
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