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Despite Promises, Obamacare Will Add to Federal Deficits

In September 2009, President Obama promised the country that "I will not sign a plan that adds one dime to our deficits — either now or in the future."

But it turns out Obama did sign such a plan — in fact, ObamaCare could add upwards of 180 billion dimes to the deficit in its first 10 years, an IBD analysis of various official budget reports found.

According to the Congressional Budget Office's initial forecast made in March 2010, ObamaCare was supposed to cut the deficit a total of $124 billion in its first decade. Democrats seized on this to show Obama had lived up to his promise.

Almost as soon as Obama signed the law, however, his administration started making changes that added costs and cut revenues. The most recent was the one-year delay in the employer mandate.

The result is instead of a $124 billion deficit cut from 2010 to 2019, ObamaCare will likely add about $18 billion in red ink over those same years. And that assumes nothing else changes in the years ahead.

Source: Investors Business Daily. Read full article. (link)

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  • Calvin Coolidge||

    Yes, we were going to be able to give away all this free stuff - coverage for the uninsurable, subsidies for the uninsured - and we were going to lard a whole slew of regulations on top of the whole thing - at is wasn't only going to be free, but it was going to save us money! Because, government. Through the miracle of Government Intent, everything would cost less, more people would get more health care, and, on top of it all, the deficit would go down too!

    What is really scary is that there are people who believed this, and that many of them are (were) members of congress.

    Remember all the "you'll thank us when your premiums go down!" gloating from the left? Sort of like all the pre-emptive gloating about the wonderful job FEMA was going to do after Hurricane Sandy. If you are on the left, you need to get your gloating in as soon as possible, before reality starts to come into focus.

  • timbo||

    BO suck's ass.

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