Even before Obamacare was deemed passed, observers were raising warning flags about the bill’s ‘creative’ financial arrangements. While major costs such as the ‘Doc fix’ were hidden in separate legislation, ‘savings’ were double-counted or even credited to the bill before being found unfeasible.
As a result, this massive new ‘entitlement’ actually accelerates the speed at which the already-near-crisis programs of Social Security, Medicare, and Medicaid fall into insolvency. The Mercatus Center at George Mason University in Virginia recently produced a study and video highlighting some of the consequences of this foolishness.
The health care bill of 2010 was said to provide two major benefits. First, the bill promised to find savings in the government’s biggest health insurance program, Medicare, and use those savings to reduce the deficit. Second, the bill promised to expand health care coverage to uninsured Americans. Sounds pretty good, right? But how does the government propose to pay for both?
Here’s where the math becomes fuzzy. Research from “The Fiscal Consequences of the Affordable Care Act” shows how this just doesn’t add up. Find out more here.