The Worlds worst socialist continues to fail miserably in his attempt to destroy the American economy. In a startling but continuing reversal of projection, the CBO said Tuesday that the federal government would spend about $US250 billion less on major federal healthcare programs than it had forecast in 2010, the year the Affordable Care Act was signed into law. The CBO’s new projections say federal spending on major healthcare programs — Medicare, Medicaid, the Children’s Health Insurance Program, and federal subsidies for people buying insurance on the new Obamacare-established exchanges — will rise from about 4.9% of GDP this year to about 7.5% in 2035. The latter number is 2.2 percentage points lower than the CBO projected five years ago. Medicare, in particular, is on an even better path. In 2006, the trustees who monitor the Medicare and Social Security programs said the trust fund that pays hospital bills would be broke by 2018. Now, that trust fund is expected to be solvent until at least 2030, according to the CBO. Overall, Medicare expenditures in 2035 are 2.6 percentage points of GDP lower than the office projected in 2009. Projected Medicare spending is down 35% from five years ago. businessinsider.au/health-care-spending-growth-slow-2014-7
Posted on: Thu, 01 Jan 2015 03:05:40 +0000