[E]ven if the budget office errs significantly in its conclusion that the bill would actually help reduce the future federal deficit, I doubt that the financing of this [Senate] bill [passed by the House on Sunday] will be anywhere near as fiscally irresponsible as was the financing of the Medicare Modernization Act of 2003.
Uwe E. Reinhardt, “Wrapping Your Head Around the Health Bill”, Economix, 24 March 2010.
GW Bush’s “Medicare Modernization Act”, according to the actuaries of Medicare, will add more than $1 trillion to the federal deficit over the next ten years.
Uwe E. Reinhardt teaches economics at Princeton University.
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