Health Care Shocker!: Reform Will Add to, Not Reduce, Government Deficits

Via Instapundit comes a gloss at Legal Insurrection on an AP revelation that nobody (read: 300 million Americans minus about 400 Democratic pols) knew all along. ObamaCare is going to add to deficits, not reduce them. From the AP:

A report by economic experts at the Health and Human Services Department said the health care remake will achieve Obama's aim of expanding health insurance — adding 34 million Americans to the coverage rolls.

But the analysis also found that the law falls short of the president's twin goal of controlling runaway costs, raising projected spending by about 1 percent over 10 years. That increase could get bigger, however, since the report also warned that Medicare cuts in the law may be unrealistic and unsustainable, forcing lawmakers to roll them back.

Psst! Want a hot betting tip? Put down your current or future Medicare premiums on "unrealistic and unsustainable." More here.

Reason's Peter Suderman has been all over this like Ohio cops on a chihuahua.

And here's Reason.tv's 3 Reasons Healthcare Reform Won't Cut the Deficit by One Thin Dime: