Here, courtesy of Calafia Beach Pundit, are two important graphs to keep in mind during the health-care debate, with all the attendant talk about federal budget deficits.
As the graphs illustrate so well, the current decline in revenues and rise in expenditures — leading to such a yawning budget deficit — are far more dramatic than at any other point in time shown. And as CBP notes, things are going to continue to worsen:
Revenues look like they might bottoming later this year, with the 3-mo. annual spending rate falling at an 11% rate today versus a 28% rate just a few months ago. But spending is growing at almost a 20% annual clip over the past 3 and 6 months, and we have yet to see the bulk of the $787 billion [stimulus] spending package get spent.
If revenues are still falling at a rate of 11 percent, and expenditures rising at a 20 percent clip, that budget gap is only going to get wider.
And ObamaCare, with a price tag of $900 billion at a bare minimum, and quite possibly much more, would come on top of the stimulus package…which comes on top of the deficits already shown.
Also, check out the John Stossel column that CBP links to. This is the polar opposite of ObamaCare and has no chance of passing anytime soon, if ever. But it does illustrate well that there are far more options than Obama’s plan or the status quo.