You are no doubt shocked — shocked! — to learn that a new analysis of the real numbers associated with the 2010 federal health care reform law rebuts the Obama administration’s claims about federal deficit reduction.
A new study by Chuck Blahous, public trustee for Medicare and Social Security, blows to smithereens the claim that the Affordable Care Act (aka ObamaCare) will cut the deficit. According to Blahous, President Obama’s health care law unambiguously worsens the nation’s already unsustainable fiscal path. Among its key findings are these:
· Even under an optimistic scenario, the health care law will add more than $1.15 trillion to federal spending over the next decade.
· The law will add more than $340 billion and as much as $530 billion to federal deficits over the same period, and increasing amounts thereafter.
· To ensure the health care law doesn’t worsen the nation’s fiscal outlook, two-thirds of the subsidies must be repealed or other fiscal offsets found before benefits begin in 2014. …
… The conclusion by Blahous is, from the Obama administration’s perspective, brutally straightforward:
Taken as a whole, the enactment of the ACA has substantially worsened a dire federal fiscal outlook. The ACA both increases a federal commitment to health care spending that was already unsustainable under prior law and would exacerbate projected federal deficits relative to prior law. This is an unambiguous conclusion, as it would result regardless of the degree of future success attained in upholding various cost-saving provisions now embedded in the law.
Once again, reality is blowing apart the imaginary world created by Obama.