The American people figured out very early in the health reform debate that you can’t create a new entitlement that finances health insurance for 30 million people and still claim the scheme will magically reduce the federal budget deficit.
Charles Blahous, a senior research fellow at the Mercatus Center at George Mason University, has produced a meticulous 52-page study, The Fiscal Consequences of the Affordable Care Act, which details the health law’s spending and revenue projections point by point.
The health law “should be expected to increase federal spending obligations by more than $1.15 trillion over the upcoming decade and to worsen cumulative federal deficits by somewhere between $340 and $530 billion over the same period,” he writes. The Obama administration had claimed the health law would lead to deficit savings of $124 billion over the first decade.
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