Massachusetts Treasurer: MassCare on a National Scale Would ‘Wipe Out the American Economy’

Via Michael Cannon, Democrat-turned-independent gubernatorial candidate Tim Cahill warned today that the nation is perilously close to emulating the folly of MassCare:

State Treasurer Timothy P. Cahill, an independent candidate for governor, today offered a wide-ranging and scathing criticism of the state’s universal health care law, saying it is bankrupting Massachusetts and will do the same nationally, if a similar plan is passed in Congress.

“If President Obama and the Democrats repeat the mistake of the health insurance reform here in Massachusetts on a national level, they will threaten to wipe out the American economy within four years,” Cahill said in a press conference in his office.

Echoing criticism leveled by congressional Republicans in recent weeks, Cahill said, “It is time for the president, the Democratic leadership, to go back to the drawing board and come up with a new plan that does not threaten to bankrupt this country.”

Cahill, who bolted the Democratic Party in July, has been a long-time critic of the state’s health insurance law. He said he was calling today’s press conference to respond to Governor Deval Patrick’s accusation last week that he and other gubernatorial candidates have been “missing in action” in tackling health care concerns.

Cahill said it is the governor who has not done enough to lower costs imposed by the state’s health insurance law, which Cahill said “has nearly bankrupted the state.”

“Who, exactly, is going to bail out the federal government if this plan goes national?” Cahill asked. Good question.

UPDATE: Headline originally identified Cahill as a former state treasurer. He is actually the current state treasurer. I’ve corrected the mistake.