The cost of Obamacare - add another $600 Billion
This is getting ridiculous. From
Bloomberg:
House Health-Care Proposal Adds $600 Billion in Taxes
Health-care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid, Ways and Means Committee Chairman Charles Rangel said.
Democrats will work on the bill�s details next week as they struggle through �what kind of heartburn� it will cause to agree on how to pay for revamping the health-care system, Rangel, a New York Democrat, said today. The measure�s cost is reaching well beyond the $634 billion President Barack Obama proposed in his budget request to Congress as a 10-year down payment for the policy changes.
Asked whether the cost of a health-care overhaul would be more than $1 trillion over a decade, Rangel said, �the answer is yes.� Some Senate Republicans, including Senator Orrin Hatch of Utah, say the costs will likely exceed $1.5 trillion.
People will look back on this time and shake their heads. We should have learned from FDR's meddling as it prolonged the Great Depression. Now that we are in a minor depression, who gets elected but another meddler...
Posted by DaveH at June 12, 2009 9:11 PM