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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,‚?Ě 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.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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