Projection Shows Obamacare Will Add Billions To The Deficit In First Decade

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So much for President Obama’s pledge not to sign any law that adds one dime to the deficit. I think what he meant to say is that he wouldn’t sign a law that didn’t add billions to the deficit. According to IBD, Obamacare is now projected to add at least $18 billion to the deficit over the first decade.

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According to the Congressional Budget Office’s initial forecast made in March 2010, ObamaCare was supposed to cut the deficit a total of $124 billion in its first decade. Democrats seized on this to show Obama had lived up to his promise.

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Almost as soon as Obama signed the law, however, his administration started making changes that added costs and cut revenues. The most recent was the one-year delay in the employer mandate.

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The result is instead of a $124 billion deficit cut from 2010 to 2019, ObamaCare will likely add about $18 billion in red ink over those same years. And that assumes nothing else changes in the years ahead.

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Read the whole thing.

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