About those ObamaCare Savings … Oops!
Remember ObamaCare? That unconstitutional law–at least by the meaning of the Constitution, though we don't yet know how the Supreme Court is going to rule–which was supposed to save us zillions of dollars. Well, taxpayers shouldn't act like congressmen and spend the savings before they occur.
The Affordable Care Act (ACA) enacted in 2010 will significantly worsen the
federal government’s fiscal position relative to previous law. Over the years 2012–21,
the ACA is expected to add at least $340 billion and as much as $530 billion to
federal deficits while increasing federal spending by more than $1.15 trillion over
the same period and by increasing amounts thereafter. These adverse fiscal effects
are not everywhere understood because of widely circulated analyses referencing
scoring conventions of the Congressional Budget Office (CBO) and the Medicare
Trustees, which compare the health care reform legislation to a baseline scenario
that differs from actual law. Moreover, there is substantial risk that the ACA’s costsaving
provisions will not be enforced as currently specified.
Well, as a friend of mine says (when it comes to buying antique beer steins, which fill his house): "It's only money"! And when it's taxpayers' money to boot, it really doesn't count in Washington.