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
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