House Minority Leader Nancy Pelosi (D-CA) is still living in Fantasyland when it comes to ObamaCare. During an interview on MSNBC, a frequent mouthpiece for Leftists, the ex-House Speaker claimed that ObamaCare is responsible for bringing down the budget deficit:
“Many of the initiatives that he passed are what are coming to bear now, including the Affordable Care Act,” Pelosi said in an interview with MSNBC’s Chris Hayes. “The Affordable Care Act is bringing the cost of health care in our country down in both the public and private sector. And that is what is largely responsible for the deficit coming down.”The CBO reported last week that the federal budget deficit declined in the first seven months of fiscal year 2013 compared to 2012.
It’s true that the budget deficit will shrink this year, but that’s because of increasing tax revenues, not because of ObamaCare. Additionally, we’re finally — after nearly four years — coming out of a recession, so tax revenues inching up is not surprising.
Health insurers are already seeking premium hikes, which could rise even higher, to deal with the added strain of the law and implementation efforts are becoming a disaster, both of which have caused many Democrats to become concerned. Even more troublesome is the effect that ObamaCare is having on businesses, including moves to cut hours to prevent from having to offer workers insurance benefits.
Just as troubling is a report from the Government Accountability Office which noted that if the cost-controls put in place by the law didn’t hold up, ObamaCare could add $6.2 trillion to the national debt.
This is only the beginning with ObamaCare. The law imposes a huge burden on taxpayers and it’s destined to fall apart. The only question is how much damage it will be done before it finally unravels.
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