Wednesday, October 28, 2009

Health Care and Red Ink

Bob Borosage, writing in the Prospect, throws a blanket on the right wing's red ink brush fire:

But what of the staggering long-term deficits—running publicly held debt up to nearly three times the size of our gross domestic product by 2050, as decried by the Peterson Institute and others? There is one core reality of these fantastic projections. The great bulk of the deteriorating long-term projections come from out-of-control costs of health care. Hold health care costs down to sensible levels and there is no problem. Fail to solve soaring health care costs and there is no solution. We can neither tax enough nor cut enough spending to pay for the projected costs of health care.