Friday, March 30, 2012

Another $17 trillion surprise found in Obamacare

Surprise, surprise! All that 'free' healthcare won't be so free after all. In fact, it will be very expensive and come with a whopper of a tax increase.  Oddly, the Republicans are finally reading a bill that they supported and attempted to pass in the 1990's.
Senate Republican staffers continue to look though the 2010 health care reform law to see what’s in it, and their latest discovery is a massive $17 trillion funding gap. “The more we learn about the bill, the more we learn it is even more unaffordable than was suspected,” said Alabama Sen. Jeff Sessions, the Republican’s budget chief in the Senate. “The bill has to be removed from the books because we don’t have the money,” he said. The hidden shortfall between new spending and new taxes was revealed just after Supreme Court justices grilled the law’s supporters about its compliance with the Constitution’s limits on government activity. If the court doesn’t strike down the law, it will force taxpayers find another $17 trillion to pay for the increased spending. The $17 trillion in extra promises was revealed by an analysis of the law’s long-term requirements. The additional obligations, when combined with existing Medicare and Medicaid funding shortfalls, leaves taxpayers on the hook for an extra $82 trillion in health care obligations over the next 75 years.
Read the rest here
The Daily Caller