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LEFT WING LOONS Title: Another $17 trillion surprise found in Obamacare Another $17 trillion surprise found in Obamacare By Neil Munro - The Daily Caller Senate Republican staffers continue to look though the 2010 health care reform law to see whats in it, and their latest discovery is a massive $17 trillion funding gap. The more we learn about the bill, the more we learn it is even more unaffordable than was suspected, said Alabama Sen. Jeff Sessions, the Republicans budget chief in the Senate. The bill has to be removed from the books because we dont have the money, he said. The hidden shortfall between new spending and new taxes was revealed just after Supreme Court justices grilled the laws supporters about its compliance with the Constitutions limits on government activity. If the court doesnt strike down the law, it will force taxpayers to find another $17 trillion to pay for the increased spending. The $17 trillion in extra promises was revealed by an analysis of the laws long-term requirements. The additional obligations, when combined with existing Medicare and Medicaid funding shortfalls, leave taxpayers on the hook for an extra $82 trillion in health care obligations over the next 75 years. The federal government has an additional $17 trillion unfunded gap in other obligations, including Social Security, bringing the total shortfall to $99 trillion. That shortfall is different from existing debt. The federal government already owes $15 trillion in debt, including $5 trillion in funds borrowed during Obamas term in office so far. That $99 trillion in unfunded future expenses is more more than five years of wealth generated by the United States, which now produces just over $15 trillion of value per year. The $99 trillion funding gap is equal to almost 30 years of the the current federal budget, which was $3.36 trillion for 2011. Currently, the Social Security system is $7 trillion in debt over the next 75 years, according to the Government Accountability Office. Also, Medicare will eat up $38 trillion in future taxes, and Medicaid will consume another $2o trillion of the taxpayers wealth, according to estimates prepared by the actuarial office at the Centers for Medicare and Medicaid Services. The short-term cost of the Obamacare law is $2.6 trillion, almost triple the $900 billion cost promised by Obama and his Democratic allies, said Sessions. The extra $17 trillion gap was discovered by applying standard federal estimates and models to the laws spending obligations, Sessions said. For example, Sessions examination of the health care laws premium support program shows a funding gap $12 billion wider that predicted. The same review also showed the law added another $5 trillion in unfunded obligations for the Medicaid program. President Obama told the American people that his health law would cost $900 billion over ten years and that it would not add one dime to the debt
this health law adds an entirely new obligationone we cannot pay forand puts the entire financing of the United States government in jeopardy, Sessions said in a floor speech. We dont have the money
We have to reduce the [obligations] that we have.
Poster Comment: Looks like a whole lot of people are going to have to find a way to make an honest living instead of being a parasite, that's if they want to go on breathing....
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