From the Heritage Foundation:
In 2009, the federal government ran a budget deficit of $1.4 trillion, or 9.9 percent of GDP–the largest budget deficit relative to the size of the U.S. economy since World War II. And the Obama Administration is proposing to add trillions of dollars more in debt over the coming decade. As shown in chart 1, the Administration’s 2010 budget contemplates deficits exceeding $630 billion each and every year through 2019.
……by the end of 2019, the Congressional Budget Office (CBO) projects that the Obama budget plan would push the debt burden above $17 trillion–an increase in the nation’s debt burden of $11.3 trillion over the period 2009-19. (Congressional Budget Office, “An Analysis of the President’s Budgetary Proposals for Fiscal Year 2010,” June 2009)
……For starters, both bills (House-passed health care bill and the proposal offered by Senate Majority Leader Harry Reid (D-NV)), assume that Medicare physician fees will be cut by some 20 percent on a continuous basis, even though there is strong bipartisan opposition to such cuts being implemented. Fixing that problem alone would push these bills into the red.
Moreover, the “pay fors” in both bills are heavily weighted toward across-the-board payment rate reductions in the Medicare program for hospitals, nursing homes, home health agencies, and insurers. There is no effort to measure and reward quality care. Consequently, pressure is certain to build against them over time, and Congress has a long history of reversing such payment cuts at the first sign that access and quality are being compromised.
By necessity, any credible plan looking at long-run sustainability must address the rapidly rising costs of the nation’s large health entitlement programs–Medicare and Medicaid. But that job could be made impossible if a health care bill locks in legislative changes aimed almost entirely at financing insurance expansion.
The Dem assclowns in Obama’s regime are plowing ahead with this train wreck; the American people be damned.
56% (and that’s probably a bit low) of the American people strongly oppose any government takeover of healthcare.