Massachusetts is showing that eventually private companies will drop coverage because it's cheaper to pay fines to the government than try to keep up with rising costs reflected in insurance premiums. Obamacare has the same future, and, as private insurance disappears, Washington will face rising costs as people turn to public options.
Meanwhile, another consequence of Obamacare comes into focus, which is its role in the Obama administration's shift in the country's financial posture.
Columnist Charles Krauthammer writes that spending on stimulus and domestic priorities are building a structural deficit that won't be addressed by savings from entitlement reform — where real savings could be realized — because funds are being siphoned from them to help pay for the new health care entitlement.
Did someone say "value-added tax"?
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