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Monday, April 5, 2010

Alan Greenspan States the Obvious

Alan Greenspan says that if the CBO is wrong about the cost of Obamacare that may be a problem.

Former Federal Reserve chief Alan Greenspan warns the economic impact of the new healthcare reform law could be disastrous if the Congressional Budget Office’s
(CBO) projections prove inaccurate.

Greenspan told ABC News’ “This Week” on Sunday CBO is a “first-rate” operation, but significant danger exists should their projections prove inaccurate over time.

“And when you're dealing with an economy in which debt is becoming, federal debt is becoming ever increasingly a problem, it strikes me that when you're dealing with public policy and you're in a position where you have to ask yourself, ‘What happens if we are wrong?’” Greenspan said in response to a question from ABC’s Jake Tapper
regarding his thoughts about the newly passed healthcare reform act.

Medicare was supposed to cost less than $100 million when it was rolled out. It was supposed to quadruple in price by now. It's in excess of $100 billion yearly now. That should give everyone an idea just how out of control Obamacare may be.

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