In a startling, last-ditch effort to save ObamaCare, President Barack Obama said that if the health care reform measures consuming Congress doesn’t pass – wait for it – the government will go bankrupt.
“President Obama Told ABC News’ Charles Gibson In An Interview That If Congress Does Not Pass Health Care Legislation That Will Bring Down Costs, The Federal Government ‘Will Go Bankrupt.’” (Karen Travers, “President Obama: Federal Government 'Will Go Bankrupt' If Health Care Costs Are Not Reigned In,” ABC News’ The World Newser, 12/16/09)
“The President Said That The Costs Of Medicare And Medicaid Are On An ‘Unsustainable’ Trajectory And If There Is No Action Taken To Bring Them Down, ‘The Federal Government Will Go Bankrupt.’” (Karen Travers, “President Obama: Federal Government 'Will Go Bankrupt' If Health Care Costs Are Not Reigned In,” ABC News’ The World Newser, 12/16/09)
Obama: “This Actually Provides Us The Best Chance Of Starting To Bend The Cost Curve On The Government Expenditures In Medicare And Medicaid.” (Karen Travers, “President Obama: Federal Government 'Will Go Bankrupt' If Health Care Costs Are Not Reigned In,” ABC News’ The World Newser, 12/16/09)
Sounds scary, doesn’t it. It is, but the reason it’s scary is that this is a fiscally insane comment. If the government goes bankrupt it’s because it borrows too much money from foreign countries to pay for programs we can’t afford.
Case in point, the stimulus package. The Democrats, along party lines, passed a $787 billion package aimed at creating jobs. Well, we know how that turned out. Unemployment went from 8.1% to double-digits since passage of the stimulus package. Oh, and who can forget this one? Obama’s stimulus saved three jobs for Hillary Clinton’s pollster at a cost of nearly $6 million.
Let us also not forget that Democrats passed a $3.5 trillion budget that explodes the national debt.
Think if ObamaCare doesn’t pass that the government will go bankrupt, or is it more likely that out-of-control spending will send us to economic doom?
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