While President Obama has stated once again that he will not negotiate with House Speaker John Boehner on Tuesday, David Stockman, former director of the Office of Management and Budget in the Reagan Administration, former member of Congress, and author of “The Great Deformation” said Obamacare is the worst law passed in four decades and must be halted.
When Obamacare was passed, it began the largest takeover by the government of any service of its kind and at the time, healthcare costs was a factor and yet, four years later, Obamacare still does not solve rising healthcare costs.
When Yahoo news asked Stockman on Friday as to why Obamacare should be repealed, Stockman replied, “It is the worst law ever passed in the last four decades by the federal government,” Stockman argues. “It is a massive entitlement to end all entitlements. It is going to cause a fiscal hemorrhage, which is not even yet anticipated. It will tie up one-sixth of GDP in the most monstrous, massive, bureaucratic snarl that you can’t imagine. So therefore this needs to be stopped before it becomes operational.”
“No entitlement has ever been shut down once it starts…remember, it was driven through in 2010 by a narrow partisan majority… Democrats only… that is not a way to enact an entitlement.”
Meanwhile, Senate Democrats are proposing a debt-limit increase of $1 trillion dollars. The bill contains no cuts in spending and the bill could be released as early as Tuesday.
Stockman's interview can see seen here.