The last time I talked about the cost of Obama care for individual households. Today lets discuss the effects of Obama care on the deficit.
The medium income for a household in the US is presently $50202.00. There are 161 million households according to Wikipedia. If you test the cost of insurance to this medium you will see that insurance companies will collect $1034.00 per month of this the family will ultimately pay $283.00 per family.
This leaves the US government paying $751.00 per month or $9012.00 per year. Using the number of households times the cost to the government per family you get $1.45 Trillion dollars.
Where is this new government expenditure going to come from? Without an increase in revenues, which doesn't appear likely, the only other possibility is additional deficit spending. Doubling the deficit to 2.5 trillion dollars per year for the foreseeable future. By the end of Mr Obama's 8 years in office the national debt will rise to 24 trillion dollars or 115% of GDP. The debt % of a third world country on a massive scale. But not to worry as the debt is owned by the same government which created it, so do you believe it will really be repaid? Or does it really exist, can you loan money to yourself?
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