Goodbye Obamacare, Hello $29.1 Trillion Deficit

This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
Republicans from the 40-member Freedom Caucus are taking their collective first steps toward Obamacare cuts later this month.
And part of these initial steps in the process involve drafting a budget law that would expand the national deficit and increase public debt by $9.7 trillion over the next decade. Then, should the law eventually pass, the nationwide debt would rise to $29.1 trillion by 2026.
The Freedom Caucus – which needs to have its official ‘position’ on the matter by Monday (Jan. 9) – has historically been opposed to legislation that raises the national deficit without, at the very least, addressing a balanced budget at the same time.
In fact, on Jan. 5, The Washington Post pointed out that just last year, members of the caucus voiced outrage over similar legislation that would have likewise added to the U. S. budget deficit and nationwide debt. ‘We would rather torpedo the entire budget process than vote on a fiscal blueprint that increases spending without balancing the budget,’ the caucus had said in an official statement.

This post was published at Wall Street Examiner by Casey Wilson ‘ January 6, 2017.