CBO reports ObamaCare and other welfare spending will implode economy
A ticking time bomb threatens to destroy the United States’ economy, and your economic freedom.
“The cost of government healthcare programs will more than double over the next decade, the Congressional Budget Office said Tuesday,” The Hill reports.
“CBO’s economic outlook predicts that federal spending on Medicare, Medicaid and other healthcare programs will climb to $1.8 trillion — or about 7 percent of the entire economy — by 2022. If healthcare costs aren’t contained and taxes stay at roughly their current levels, the debt will climb to “unsupportable” levels, CBO warned.”
That leaves Congress with two options:
1) Reform federal entitlement programs and shift them to more effective, less expensive private sector solutions, a fix supported by Libertarians.
2) Dramatically jack up taxes or engage in devastating levels of borrowing, which is supported by both Republicans and Democrats. Either gimmick requires tax rates so high, and an expanded IRS so strong and powerful, you lose your right to keep what you earn and your children and grandchildren must compete for tax-ravaged paychecks in an economy decimated by bloated government spending.
