By Christopher Zoukis
Not too long ago, the U.S. Supreme Court made a momentous decision. The Court decided that the Affordable Care Act was in fact constitutional. The Democrats cheered and the Republicans booed. The Court asserted that ACA was a tax, and that the U.S. government has the right, according to the Constitution, to impose taxation. Essentially, and under the circumstances, the Court was correct. There’s nothing more to be said. Image courtesy of politicalnewsnow.com
Other than this: Obamacare is going to change the whole shape of the playing field.
Let’s take a look at what’s going to happen.
The U.S. Senate Budget Committee estimates that the Affordable Care Act will incur $17 trillion in additional cost over the rest of this century. At the present juncture, healthcare spending includes $38 trillion for Medicare, $20 trillion for Medicaid and $7 trillion for Social Security. Adding $17 trillion to the equation brings the grand total to $82 trillion. If that’s not scary enough, try this on for size: all of the above healthcare programs are unfunded. Translation: there’s no money set aside to pay for them.