Megan McArdle points out what should by now be blindingly obvious even to people dumb enough to believe that Obamacare will somehow “stimulate” the economy:
Obama’s health care plans are very, very expensive, and they mean higher taxes for everyone.
Having made this assertion, she adds the following:
Otherwise, how could Obama hope to pay for it? I think we found out today: magic!
This refers to the pledge by various health care “stakeholders” to find $2 trillion in savings. But what good is such a pledge when no one (including those who made it) believes it will be honored?
I suspect that the announced plan to save $2 trillion is going to be used to sell Obama’s healthcare plan as if we’d already found it.
And when the savings don’t happen? That’s where the real magic starts. Watch the incredible Professor Obama cause hard-earned money to disappear from your wallet and re-materialize in Washington, D.C.
[HT GruntDoc]
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