CBO chief: ObamaCare will destroy, not save, the budget
President Obama blamed health care costs for the mounting federal deficit, saying Tuesday the country will spend $1 out of every $5 on health care within the next 10 years if the government does not mandate reform.
Describing the need to control costs as the administration's "top priority," the president said health costs as the "primary driver" of the federal deficit.
The Congressional Budget Office says ObamaCare will only make things worse:
The health care overhauls released to date would increase, not reduce, the burgeoning long-term health costs facing the government, Congressional Budget Office Director Douglas Elmendorf said Thursday.
That is not a message likely to sit well with congressional Democrats or the Obama administration, and House Speaker Nancy Pelosi , D-Calif., said Thursday she thinks lawmakers can find ways to wring more costs out of the health system as they continue work on their bills.