Obama Lies: Former CBO Head Says Deficits to Rise by $562 Billion as Obamacare Not Deficit Neutral

Barack Obama has been called out on his lie that his Obamacare proposal would be so-called "deficit neutral" by a source of extreme credibility. According to the former director of the Congressional Budget Office-which, according to the Democrats is the "gold standard" of scoring and estimating-not only will Obamacare be anything other than "deficit neutral," but it will also raise the US deficit by a mind-obliterating $562 billion. This is of course in devastating contrast to the relentless lying by Obama and his team (read: underlings) of propagandists such as Peter Orzag, both of whom have been on the record as calling Obamacare "deficit neutral." Uh-huh...so if that's the case, then why does Douglas Holtz-Eakin, who ran the CBO from 03 to 05, calculate a rise of $562 billion in deficits all thanks to Obamacare? Probably because Obama was, you know, lying...again.

According to Holtz-Eakin, the way one arrives at the one, true calculation of whether Obamacare is deficit neutral (it isn't) is by stripping out "all the gimmicks and budgetary games," which the Democrats' unconstitutional and unpopular legislation is filled to the brim with. In addition, at times, the way the Democrats have deceptively written the BS-bill is to simply exclude-that's right, as in "leave out like it's not there, even though it very well is"-costs! Luckily for us, in his op-ed, Holtz-Eakin walks us through each budgetary gimmick so we can truly see that Obamacare will conclusively raise deficits and by a lot.

Before, however, take a quick walk down memory lane by watching Obama stooge Peter Orzag pretending he wants to have a deficit "neutral" health plan. It would be funny if it wasn't so brutally tragic.

Just recently, the CBO under its new head had corruptly claimed in a report that Obamacare would in fact "lower" (hahaha...that's a good one, honestly) federal deficits by $138 billion! But even without a degree in economics, even a half-functioning individual could easily see that that was an oxymoronic statement because Obamacare entails costing almost a trillion dollars over the next 10 years. In short, it's mathematically impossible to supposedly lower deficits while massively jacking up costs by drunken-sailor type spending, which Obamacare does in over-abundance.

The first sleight-of-hand in terms of budgetary manipulation the Democrats are guilty of is to magically omit costs that should be included, that is, if the Democrats wanted to be honest, but we know they want to cheat Americans instead. Some new programs under Obamacare would require $114 billion in the future just to keep them operating, but this cost is excluded (read: hidden) in the bill. Also, $70 billion is magically neglected to be mentioned when it should be since it would count towards future benefits for people under Obamacare. Just because the benefits won't apparently appear in the first 10 years, they're misleadingly omitted in the bill's cost!

Next, we have the wild assumption that corporations will magically (like in some fairytale world where Obama is the Mad Hatter or something) deposit $8 billion dollars in higher tax payments, but these are just estimates! Nonetheless, just on these estimates (who knows where Democrats got those in the first place), the Democrats' bill assumes that fiscal targets will apparently be met for the first five years of Obamacare. Stunning in its total fantasy!

Third, there is the just dumb (or is it devious?) assumption in the Democrats' bill that $53 billion dollars would, again, magically appear due to increased taxes on Social Security; these would then be used to supposedly offset health care spending. This is because there's an expectation that employers will be paying higher wages. Yet what the bill refuses to account for is the inconvenient, little fact that when workers have higher wages, they'll, too, qualify for higher Social Security benefits upon retiring. So, in conclusion, the Democrats are wrongly counting the fake "savings" from higher Social Security taxes when they'll, in fact, have no additional money coming in because it will in fact just go right out again to retirees with higher Social Security benefits on the higher wages they earned!

Whew! Still with me? Good! I know it's a pain in the you-know-what to get into the precise detail of the Democrats' chicanery, but it's a necessary evil to list them one by one.

Lastly, the Obamacare bill purports that it will-get this-"trim" $463 billion from Medicare spending and turn it around to use it to finance insurance subsidies. Huh...w-w-w-what?! Isn't Medicare in the red, meaning you can't really "trim" anything from the program because it's practically going insolvent if it isn't already?! Of course it is, and that final example is just the epitome of the blatant falsehood in the Obamacare bill.

According to Holtz-Eakin's final calculations, when you add up the abuses in the Obamacare bill that include the fake Medicare "savings," the nonsense manipulation of Social Security revenues, and adding spending that the Democrats just magically refuse to count in the current version of their bill, you, the American taxpayer, are left with the decided short end of the stick. This is especially true when you consider the fact that this entitlement program of Obamacare-like all other entitlement programs-is ever-expanding...so these calculations of how much the deficit will rise will only get worse! Keep in mind, too, that the current federal deficit is already northwards of $700 billion annually for the next 10 years, with the 2020 deficit estimate being a mind-slaughtering $1.2 trillion!

But it's okay, right? Because according to Barry, tens of millions of Americans will finally have health "insurance," right? And, also according to Barry, health care is a "right" and not a good, right? Right?

To send Marc praise, questions or criticism, e-mail him at marc_schenker@telus.net

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Sources:

Douglas Holtz-Eakin, The Real Arithmetic of Health Care Reform, New York Times

Preliminary Cost Estimate for Pending Health Care Legislation, CBO Director's Blog

Larry Petrash, Expect health care reform to cost trillions not billions, Times Record News

Paul Ryan, Medicare and SS are going Bankrupt and Obama isn't even trying to fix them, Business Insider