Sunday, June 13, 2010

Quote of the day

File the following from Congressional Budget Office director Dr. Douglas Elmendorf under things that we would've liked to have known before ObamaCare was voted on:

Rising health costs will put tremendous pressure on the federal budget during the next few decades and beyond. In CBO’s judgment, the health legislation enacted earlier this year does not substantially diminish that pressure.

Keith Hennessey, using data provided by Elmendorf, comes to the following conclusions with respect to the eventual effects of ObamaCare:

1.those with health insurance will have less money available for other needs; will be harder for the uninsured to buy insurance; and
3.government spending on Medicare and Medicaid will break federal and state budgets.

Again, while the administration makes a huge gamble by purposely scuttling its reputation as cold-blooded, can-do pragmatists with their handling of the Gulf oil spill in order to divert the nation's attention from the inevitable train wreck that is ObamaCare, we here at BwD will be doing our best to stay on top of this situation.

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