Washington Post Lead Editorial: Time to dump ObamaCare
The other day, the lead editorial at the Washington Post took Yale to task for publishing a book on the Mohammed Cartoon controversy which redacted the actual cartoons themselves.
The impact of the admission of the $9 trillion deficit can be measured by the editorial page in the Washington Post. The lead editorial today urges Congress to scrap ObamaCare, in the face of what it calls a “bad-news budget.” Until Congress can control the deficits, WaPo’s editors explain, they should refrain from launching any new programs that will spend massive amounts of cash:
NO ONE LIKES to be the bearer of bad news — especially when it could threaten your multibillion-dollar health-care reform bill. And so the Obama administration did not exactly rush to publish yesterday’s required mid-session update to its federal budget estimates of last February. Still, once the numbers finally emerged in the dog days of August, they retained the power to stun: Instead of a cumulative $7.1 trillion deficit over the next decade, the White House now projects a $9 trillion deficit. These figures imply average annual budget deficits greater than 4 percent of gross domestic product through fiscal 2019, a rate of debt accumulation faster than projected GDP growth. This is not a sustainable fiscal path.
The extra $1.9 trillion in red ink mainly reflects the Office of Management and Budget’s adoption of more realistic — that is, more pessimistic — estimates of economic growth and unemployment. White House officials protest that their original, rosier numbers made sense at the time; actually, plenty of forecasters, including those at the nonpartisan Congressional Budget Office, made more accurate calls. This situation was foreseeable and should have been acknowledged earlier. …
The new deficit numbers make it even more urgent that any health-care reform not only be fully paid for and certifiably budget-neutral in the eyes of independent analysts such as the CBO but also promise meaningful reductions in the cost growth of health care. So far, none of the plans under discussion measure up. The time is fast approaching for the president and Congress to face that reality, too.
Go read the whole thing.
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