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Obamacare's Double-Counting of the Same Money

Recorded on August 21, 2012

From The Heritage Foundation, I'm Ernest Istook.

Suppose you have money in the bank and you write a check to buy a house. You cannot say the money is still an asset in the bank AND count the house as an asset as well.

Yet that's being done with $716-billion under Obamacare. In essence, the check has been written and that money will be taken from Medicare and used to fund Obamacare. But to cover up deficits, the money is being counted both as available for Medicare plus as funding for Obamacare.

Obama's plan is dishonest and it's wrong. He claims it's okay because he's going to cut the costs of Medicare. But he's talking about price controls on doctors and hospitals, who likely would refuse to see patients without sufficient pay. Obama's plan creates the same result as terminating Medicare.

From The Heritage Foundation, I'm Ernest Istook.