ObamaCare Only Makes Deficits Worse

Conn Carroll / July 13, 2009

Last month, the Congressional Budget Office (CBO) released its latest Long-Term Budget Outlook. The Washington Post’s Robert Samuelson reports:

For the past half-century, federal spending has averaged about 20 percent of GDP, federal taxes about 18 percent of GDP and the budget deficit 2 percent of GDP. The CBO’s projection for 2020 — which assumes the economy has returned to “full employment” — puts spending at 26 percent of GDP, taxes at a bit less than 19 percent of GDP and a deficit above 7 percent of GDP. Future spending and deficit figures continue to grow. (more…)