Congress will vote this week on a repeal of the Patient Protection and Affordable Care Act
.
Senate to vote on 'Obamacare' repeal next week | PBS NewsHour
With at least three Republican senators pledging to oppose this repeal,
What happens now in the Senate after another failure to repeal Obamacare? - CBS News
it appears the Patient Protection and Affordable Care Act will remain
the law of the land for the foreseeable future.
Health Care Will Bankrupt America
https://www.thetrumpet.com/16095-health-care-will-bankrupt-america
The federal government already spends 5.5 percent of the nation’s gross domestic product on health care. According to the Congressional Budget Office, this spending will increase to 9.2 percent of gdp within 30 years. Such a spending increase will require a $9,450 permanent tax increase per household, unless the government slashes trillions of dollars of spending from some other major department, like the Department of Defense.
Democratic socialist Sen. Bernie Sanders has an alternative. If adopted, his single-payer health-care plan will add $32 trillion in new costs over the next decade, according to the Tax Policy Center. That is 16 times more expensive than Obamacare. So it is not an economically feasible solution either.
Unless Medicare is reformed and the Affordable Care Act is repealed, the U.S. government will have to borrow even more exorbitant sums of money than it has been doing so far. The Congressional Budget Office estimates that the national debt will soar to an incomprehensible $92 trillion over the next 30 years. That means 60 to 100 percent of all individual income taxes will go toward paying the interest of this debt, depending on interest rates in 2047. Since roughly half of all federal revenue comes from individual income taxes, this leaves little money for running a country.
Based on current budget projections, out-of-control health-care spending is pushing America toward bankruptcy and economic collapse. If interest rates rise faster than expected, America could soon be spending trillions of dollars per year on interest and struggling to finance both an army and a welfare state.
The Bible says a “good man leaves an inheritance to his children’s children”
(Proverbs 13:22). Yet in order to enjoy an easier life right now, Americans
today are leaving their “children’s children” with a $92 trillion debt.
