Remember this famous declaration?
Well Obama was right. Obamacare isn’t adding a dime to the deficit.
It’s adding 12 trillion dimes to the national deficit.
The supposedly independent government drones at the CBO, who spin future deficits as positively as they can with a straight face, have concluded that Obamacare will add $1.2 trillion to the national debt over the next decade.
Instead, the CBO projects that it will account for increasing chunks of deficit spending, starting at $20 billion this year and steadily increasing to $159 billion in 2024, for a collective deficit of just under $1.2 trillion. Not only does the report on the federal budget take an in-depth look at the ACA and its effects on the budget, but also on the work force in general. Most of these effects won’t hit until after the next few years, once Obamacare has had a chance to gain momentum and get going.
Of course, back in 2000 the CBO projected budget surpluses in 2010 and a National Debt of about $2 trillion. They only missed by a fraction. If they say Obamacare will add $1.2 trillion to the national debt, triple that number to get in the ballpark of reality.
And it only gets better. Obamacare will destroy jobs, as if we didn’t already know that.
One of the CBO’s most intriguing estimates is that by 2017 there will be 2 million fewer full-time jobs on the market than there would have been without Obamacare, and that figure could climb to 2.5 million by 2024. But the reason isn’t that employers will be reluctant to hire; it’s that workers won’t want to rise to income levels that would cut into their health subsidies, the CBO says. The higher a person’s income, the lower the subsidy under Obamacare.
Again, the CBO is off their rocker on the optimism scale. Small businesses aren’t hiring. Small and large businesses are cutting hours of employees. The unintended consequences have only just begun. Remember, Obama has delayed all the truly horrible aspects of Obamacare until after the mid-term elections, dictatorially deciding when and how to enforce a LAW passed by Congress.
But at least we’ve all saved $2,500 per year in health insurance premium costs.
I’m sure MSNBC will be doing an expose of Obama’s lies tonight on the Maddow Show. I can’t wait to see Obama blame Bush for this multi-trillion dollar gaffe.
This economy destroying, deficit busting, job destroying law was passed solely by the Democratic Party. Why the Republicans are not willing to fight it’s implementation tooth and nail is beyond my comprehension. It just confirms that we are run by one party. The ruling party.