“CBO: Federal Healthcare Spending To Surpass All Discretionary Spending By 2016″
At which point, I suppose we can just print more money — or tax the rich, so that they don’t get to keep all the filthy money they made using roads and bridges built by the government, having graduated from public schools and taking advantage of their free educations.
The racist bastards who never ever pay their fair share.
Under current law, federal health care spending is on pace to exceed all discretionary spending by 2016, according to the Congressional Budget Office (CBO).
The change is due to large increases in Medicare and Medicaid spending and added spending under the Affordable Care Act (Obamacare) over the next decade, a feat the Tax Foundation calls a “truly unprecedented and scary” scenario.
The nonpartisan tax research group analyzed recent CBO projections of the budget for 2012 to 2022, finding that over the next decade Medicare spending will increase from $550 billion to $1.064 trillion, while Medicaid would more than double from $253 billion to $592 billion.
In addition, new exchanges and subsidies under Obamacare will force mandatory healthcare expenditures to grow from $25 billion to $181 billion in 2022.
“In total, healthcare entitlement spending is due to more than double, from $828 billion this year to $1.837 trillion in 2022,” according to the Tax Foundation.
“This means healthcare spending will overtake all discretionary spending in 2016 – Obama’s last year in office if reelected,” the group said.
“This would be truly unprecedented, and scary, since discretionary spending represents the basic functions of government, including defense, law enforcement, roads, etc.”
Hear that? Roads. Roads. And law enforcement. And roads. Yet here you thought Elizabeth Warren was some sort of economic illiterate or communist when she told us all that we owe our successes to government.
Reading this, I’d say she — and the President — have been vindicated! In fact, first they gave you roads, now they’re giving you health care. Why so freakin’ ungrateful?
We said good day, sir!
(thanks to TerryH)