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 P.O. Box 10882
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22310-9998
202-285-0244

CF&P  Press Release, November 10, 2009

Center for Freedom and Prosperity Foundation

For Immediate Release
Tuesday, November 10, 2009
202-285-0244
www.freedomandprosperity.org

A Red Ink Fiscal Train Wreck:
New CF&P Video Shows the Budgetary
Cost of So-Called Healthcare Reform

The Center for Freedom and Prosperity Foundation (CF&P) today released a new mini-documentary explaining why government-run health care will lead to much bigger budget deficits. Entitled "A Red-Ink Train Wreck: The Real Fiscal Cost of Government-Run Healthcare," the video is a companion to a CF&P Foundation research paper on the same topic.

Debunking the assertions of Obama, Pelosi, and Reid, the video lists two primary reasons why healthcare reform is not fiscally responsible:

  1. Fiscal responsibility is achieved by limiting the size of the public sector and the reform proposals drastically increase the burden of government.
     
  2. New entitlements means higher deficits, notwithstanding the deeply flawed estimates produced by the Congressional Budget Office and Joint Committee on Taxation.

Links to the video:  YouTube | Yahoo | Capitol Hub

The video examines the history of government healthcare programs and finds that such programs nearly always cost more than predicted.

"If you look at the budgetary history of government run healthcare," said CF&P Foundation President Andrew Quinlan , "the forecasters are routinely too optimistic."

"We are not talking about trivial errors. Medicare was 10 times more expensive than first forecast and a part of Medicaid cost 17 times more than taxpayers were led to believe. No wonder the American people do not trust Congress and its supposed forecasting experts," added Quinlan.

"Government-run healthcare will increase the size of government, increase the deficit, hurt upward mobility and undermine our economy," added Dan Mitchell of the Cato Institute who narrates the video.   "The House plan is a budget buster and the Senate plan is a budget buster." Mitchell concluded.

Executive Summary

    This CF&P Foundation video explains why healthcare proposals in Washington will result in bloated government and higher deficits. This mini-documentary exposes the pervasive inaccuracy of congressional forecasts and succinctly lists 12 reasons why Obamacare will be a budget buster.


Last week CF&P released a related Healthcare video entitled, Don't Copy Europe's Mistakes: Less Government Is the Right Way to Fix Healthcare. Link below:
http://www.youtube.com/watch?v=RZum_o-GAEI

 

The following are the links to other CF&P Foundation videos including Tax Competition Primer, VAT-Hidden Tax, Global Flat Tax Revolution, Cutting the U.S. Corporate Income Tax, Promoting Prosperity, Obama's So-Called Stimulus, Obama's Deferral Proposal, Case Against Class-Warfare Tax Policy, 8 Reasons Why Big Government Hurts Economic Growth, President Obama's Dishonest Demagoguery on Tax Havens, a three part series on the Benefits of Tax Havens and a another three-part series on the Laffer Curve.
Link: http://www.freedomandprosperity.org/videos/videos.shtml

Web Links:

Youtube
http://www.youtube.com/watch?v=7oUx0S6Foss

Yahoo
http://video.yahoo.com/watch/6386305/16561639

Capitol Hub
http://capitolhub.com/video/9242/red-ink-train-wreck-real-fiscal-cost-government-r un-healthcare


For additional comments:
Andrew Quinlan can be reached at 202-285-0244, andy@freedomandprosperity.org
Dan Mitchell can be reached at 202-218-4615, dmitchell@cato.org

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