Thursday, June 04, 2009

Obama's HealthCare: Budget Buster

From The New Republic (!!)

...According to today's [Council of Economic Advisers] report, if health care reform measures were able to achieve these savings in full, starting in 2010, the deficit would reduced by only 1 percent of GDP by 2020 (Figure 14, p. 26), leaving the deficit at nearly 5 percent of GDP. (By the way, few experts believe that the health care cost curve could be made to bend as quickly as the CEA analysis assumes.)

The conclusion is inescapable: to accomplish over the next decade what Treasury Secretary Geithner promised yesterday in Beijing,
we will need a combination of spending restraints and revenue increases going well beyond what anyone has put on the table so far.

No kidding.

1 comment:

J. Strupp said...

....and that's where tax increases come in.