Dr. Betsy McCaughey: A grim warning cry on soaring US debt

Show favorite Dr. Betsy McCaughey writes in the NY Post today:

President Obama’s self-congratulatory State of the Union message last week made it sound like our nation’s problems are behind us. But on Tuesday the nonpartisan Congressional Budget Office set the record straight with a blistering warning.

The CBO cautioned that America’s unaffordable public programs and crushing debt will condemn us to anemic economic growth.

Total federal debt will reach $22.3 trillion by 2020. Unsustainable, says the CBO — especially when now-low interest rates return to normal.

Noted expert on Obamacare, Dr. McCaughey reports these numbers, straight from the Congressional Budget Office (no, Betsy McCaughey detractors, she didn’t create these numbers herself) :

  •  The cost of subsidies on the exchanges will more than triple, from $32 billion to $106 billion in 2020.
  •  Over the same period, federal Medicaid costs (also goosed by the ObamaCare law) will double.
  •  Despite all the spending, 30 million people will still be uninsured. That’s more than the number the law helps.Worst of all is this new CBO prediction: Some 9 million to 10 million people will lose their employer-provided coverage in the next three years. Some will wind up on Medicaid, others in subsidized exchange plans.

    Translation: Millions who now earn their benefits will instead be collecting them as government “assistance.” Hardly progress. One out of every four Americans under 65 will be on health welfare.

To read her entire article, click HERE.

 

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