There’s No Money Tree
Do Conservative reformers really think Washington has a money tree to pay for the bottomless pit of ObamaCare’s Medicaid expansion?
We hope not, because the billions ObamaCare expansion will cost taxpayers will be borrowed – more are more debt and a shrinking standard of living for our children.
A recent article in Oklahoma makes the point well.
“The ACA’s funding involved more accounting gimmicks than reality, which is why Medicaid expansion – a core component of Obamacare – is today funded primarily through increased debt.
The U.S. government’s public debt is more than $22 trillion and on pace to hit $28.7 trillion by 2029. Clay Farris, practice lead of client services for the consulting firm Mostly Medicaid, made clear how Medicaid expansion plays a role in that debt increase. During a recent appearance before the Legislature’s Healthcare Working Group, Farris noted Medicaid’s nationwide spending totaled $7.2 trillion from 1966 to 2014, including both state and federal funding. The program is projected to spend $5.5 trillion total from 2014 to 2022.
‘We’re going to have spent almost as much in eight years as we did in the first 50 years,’ Farris said.
No state is receiving more money today because Oklahoma has not expanded its Medicaid program to include able-bodied adults. Instead, in declining to expand Medicaid, Oklahoma has reduced the debt burden handed down to our children.”
A reform majority pushing more debt? The hypocrisy will sink them