ObamaCare will bankrupt our country

According to one recent estimate, Obamacare will add more than $500 billion to the deficit over the next 10 years and $1.5 trillion in the decade following.

Remember how President Barack Obama promised that his health care plan would reduce the deficit and put us on a path towards fiscal responsibility? Remember how Congress kept gaming the system to come up with the Congressional Budget Office (CBO) score that could justify those claims? Well, now that Obamacare has become (hopefully only temporarily) the law of the land, the CBO is singing a slightly different tune. Last Friday CBO Director Doug Elmendorf wrote on his blog:
The central challenge is straightforward and stark: The rising costs of health care will put tremendous pressure on the federal budget during the next few decades and beyond.

The Heritage Foundation has some startling information worth a read:
http://blog.heritage.org/2010/06/02/morning-bell-obamacares-true-costs-coming-to-light/?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell

CBO Director: There are Costs Involved with Cap and Trade

Waxman-Markey proposes a new national tax of historic proportions.

Congressional Budget Office Director Douglas Elmendorf testified on October 14 before the Senate Committee on Energy and Natural Resources to discuss the economic effects of reducing greenhouse gas emissions and the effects – most notably the effects of the Waxman-Markey cap and trade legislation. Although Elmendorf felt that Waxman-Markey could greatly reduce the long-term risks of climate change, he acknowledged that “such legislation would also reduce economic activity through a number of different channels.”

Note: Director Elmendorf’s expertise is budgets and economics, not climate science.
Read more from Heritage Foundation here:
http://paracom.paramountcommunication.com/hostedemail/email.htm?h=63a24a3d128b92071f2d7ecc24fe6177&CID=5000351783&ch=4EF53A2654D5EB66CC782E4A95EC214C