On the Democratic claims that Obamacare will lower the deficit:
The big news is, I think, the Democrats running around, waving around the CBO report because the other concern of the public that’s exploded over the last year is debt, expansion of government, and deficits. So it’s waving around a number.
And I think it’s unbelievably disingenuous. It says that over ten years it will reduce the deficit by $138 billion. But to give you — to put it on a scale: Last month alone, the federal government under this administration ran a deficit of $221 billion. So, ten years of the [health-care] program is going to offset about 18 days of overspending in February of 2010.
But there is a larger issue here, which is … the president has said it’s going to be a great day in deficit reduction. But look what it’s doing. It’s creating a new entitlement of roughly $1 trillion. It then is going to increase taxes and reduce spending to the tune of roughly $1.1 trillion. So, it ends up with $100 billion as a surplus.
But what it is doing, this is all happening in a climate where we have $9 trillion already in debt. It’s going to double in ten years. And we need every avenue of deficit reduction possible. So, of the $1.1 trillion of potential reduction, we’re squandering $1 trillion of it on a new entitlement and having [only] a tiny amount left over on [paying down] these current entitlements.
On the CBO projections about deficit reduction, 2020-2030:
I will believe a prediction of the weather on the first of January 2020 before I will believe a projection of deficits in 20 years. It’s absurd, and it’s meaningless.
On whether Obamacare will pass:
You asked me a month ago. I said yes. It’s going to be yes.






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