Federal spending is growing by more than 8 percent for the first quarter of FY 2015, and Obamacare accounts for nearly the entire increase.
In a Sunday op-ed for the Washington Times, economist Stephen Moore claims that, “A new Congressional Budget Office report has blown the lid off Obama’s whopper about health coverage,” namely his claim that Obamacare would reduce the budget deficit.
“Most components of spending are relatively flat, and national defense outlays … are falling,” Moore notes, but “one area accounts for almost the entire budget blowout: Obamacare.” (RELATED: Gruber in 2009: Obamacare will not be Affordable)
Outlays for Medicaid have risen by about $21 billion (23 percent) since the fiscal year began on Oct. 1, according to the CBO report, “largely because some of the provisions of the Affordable Care Act did not take effect until January 2014.”
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