Obamacare To Cost Twice As Much As Originally Forecasted

Looks like Obamacare is going to cost twice as much as forecasted:

President Obama's national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law.

This is not surprising since there were all kinds of budget gimmicks behind the original forecast. The sad thing is that the likely Republican candidate for president implemented and steadfastly stands by the precursor to Obamacare. Romney does say that he will repeal Obamacare, but his actions and past comments make it appear that he might not do what he says. Obamacare will help to compound the looming debt crisis.

Looks like February was the highest monthly increase in the national debt:

The federal government's budget deficit grew by $222.5 billion in February, the largest one-month increase in history. Economists are forecasting the deficit for the year will be the biggest imbalance on record.

Keep this figure in mind when you hear politicians claiming that reducing the deficit by a couple hundred million or billion over ten years or even in a year is some big accomplishment. How will the government repay all of this debt? If you know history then it is not to guess.

Inflation won't be a major concern in the near future according to the Federal Reserve:

A little is all right. That’s the message Federal Reserve Chairman

Ben S. Bernanke has been giving out recently when asked about the evidence of inflation in the U.S. recovery. Sometimes Bernanke doesn’t even go that far. He simply says he doesn’t see inflation. The Fed chairman recently described the prospects for price increases across the board as “subdued.”

The laws of nature and more specifically the laws economics, human nature, and mathematics don't apply to people living today. We are special.