Democrats love telling us that Obamacare will lower the deficit. They also said it would reduce health insurance costs, and since all of our premiums continue to rise we know that’s not true. Now another government study contradicts the claim that it won’t raise the national debt.
A Government Accountability Office study from last month was released to the public for the first time Tuesday. It shows that if the cost-containment measures put in place by President Obama’s health care law prove unsustainable or ineffective, then the law will add substantially to the nation’s long-term debt.
The report had been requested by the ranking Republican member of the Senate Budget Committee, Jeff Sessions of Alabama. It estimates that over a 75-year period, the health care law could add government debt equal to 0.7 percent of the nation’s economic output. Though the report itself doesn’t contain a dollar figure, Sessions’ office said the GAO confirmed to his staff that this would translate to $6.2 trillion. At a hearing Tuesday morning, Sessions said the report contradicted Obama’s pledge that health care legislation wouldn’t add a dime to deficits. In fact, it may add 62 trillion dimes.
That’s a lot of dimes.