WASHINGTON, February 26–At a Budget Committee hearing today, Ranking Member Sessions announced the results of a new Government Accountability Office report on the long-term deficit impact of the President’s health law. The results are shocking: over the next 75 years, the law will add $6.2 trillion to the deficit in present value terms—not including the interest costs associated with the additional borrowing. This proves that President Obama’s claim that he would “not sign a plan that adds one dime to our deficits—either now or in the future” were false.
This comes as no suprise. The question is what are we going to do about it?