Sen. Coburn foresees runaway spending with Obamacare affirmed
Sen. Tom Coburn, R-Ok., a physician and a former health-care company entrepreneur, said in an exclusive interview with Eagle Daily Investor that the Patient Protection and Affordable Care Act, commonly known as Obamacare, would add $2.3 trillion in new healthcare expenditures during the first 10 years without a funding source for pay for it.
As a physician who has seen the flaws of heightening governments’ role in healthcare first hand, Sen. Coburn, the author of a new book, “The Debt Bomb,” said the incentives to limit expenses are lacking in healthcare whenever a third party pays the bills. With Obamacare designed to give the government a vastly enlarged role in healthcare insurance, Sen. Coburn cautioned that the cost would soar and further boost the U.S. federal debt that now tops $16 trillion.
The Supreme Court offered no relief to opponents of Obamacare Thursday morning when the jurists ruled in a 5-4 vote that the requirement for individuals to buy insurance or pay a tax for not doing so was constitutional. The ruling found that Congress has the authority to require the purchase of insurance or the payment of a tax for not doing so.