President Obama told ABC News’ Charles Gibson in an interview that if Congress does not pass health care legislation that will bring down costs, the federal government “will go bankrupt.”
The president laid out a dire scenario of what will happen if his health care reform effort fails.
“If we don’t pass it, here’s the guarantee….your premiums will go up, your employers are going to load up more costs on you,” he said. “Potentially they’re going to drop your coverage, because they just can’t afford an increase of 25 percent, 30 percent in terms of the costs of providing health care to employees each and every year. “
The president said that the costs of Medicare and Medicaid are on an “unsustainable” trajectory and if there is no action taken to bring them down, “the federal government will go bankrupt.”
“This actually provides us the best chance of starting to bend the cost curve on the government expenditures in Medicare and Medicaid,” Obama said.
Obama told Gibson that anybody who says they are concerned about the rising deficit or worried about tax increases in the future has to support this health care bill.
“Because if we don’t do this, nobody argues with the fact that health care costs are going to consume the entire federal budget,” the president said.
(More at ABC.com)
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10 Responses
Halevi the government should go bankrupt…
How many trillions do we owe china now?
He is so full of himself. If the govt DOESNT spend the money on healthcare it will go bankrupt? How about if it DOES spend the money on healthcare it will go bankrupt?!!!??!?!
Mr President if you are concerned about the country going bankrupt, why not LOWER taxes so we have more to spend? And for goodness sakes, why dont you STOP spending like a drunken liberal?!?!!!??
321 days till Election Day 2010!!
1056 days till Election Day 2012!!
Our national debt is already above the newly increased debt ceiling and Congress just voted to spend ANOTHER $1.1 trillion it does not have. Not to mention the almost $100 trillion dollars (that’s equal to more than 16 times the TOTAL GDP) of unfunded obligations for Social Security, Meciare, Medicade etc. Newsflash!! The US is ALREADY bankrupt!!! Either this guy is utterly clueless or he thinks we are. Maybe both. Unfortunately, far too many Americans ARE clueless.
genuine doublespeak. i never thought i’d see it being used
WASHINGTON – The liberals’ longtime dream of a government-run health care system for all died Wednesday in the Senate, but Sen. Bernie Sanders of Vermont vowed it will return when the realization dawns that private insurance companies “are no longer needed.”
This is EXACTLY what Obama is quoted as saying too! We DONT WANT single payer (READ: THE GOVT) health care system. We are NOT Socialists!!!
320 days till Election Day 2010!!
1055 days till Election Day 2012!!
This President is so stupit its not even funny our children and grandchildren great grandchildren are going to be paying for all his mess what were we all thinking about when you americans voted him in
WE WANT CHANGE DID HE SAY WHAT TYPE OF CHANGE!!!!
Hey akuperma, where is your moral equivalency now and your devotion and support for the idiot in chief? I would like to add a new moniker to his name; Liar in Chief!!!
The central lie here is the claim that the plan saves rather than costs money. Over the first 10 years this is true — only because the tax increases start 4 years before the expenditures! So you have 10 years of income and only 6 years of expenses, and you make a tiny profit, and on that basis you claim that your scheme makes money. If a private businessman tried to make such a claim he would immediately be charged with fraud. But the government can do so with impunity.
Listen to Glenn Beck at Fox and he shows clips
of what obamanation said. He said 5 days before election we are 5 days from fundamental changing
the United States; and he was right; he has all commies and socialist as czar. Energy czar a commie, education czar promotes teach child about
homosexuality beginning at 5 or 6 years old. When he was a teacher or priniciple and a 16 year came and told him he was involved with an older man, he just told him don’t get aids,treasury secretary did not pay taxes, and the list goes on and on. People must stand up NOW or there children won’t recognize the country we grew up in
Remember Oral Roberts? G-d was going to call him home if he didn’t raise so many millions in a relatively short period of time. Meet Obama!