With health bill, Obama has sown the seeds of a budget crisis
By Robert J. Samuelson
Monday, March 29, 2010; A19
When historians recount the momentous events of recent weeks, they will note a curious coincidence. On March 15, Moody's Investors Service -- the bond rating agency -- published a paper warning that the exploding U.S. government debt could cause a downgrade of Treasury bonds. Just six days later, the House of Representatives passed President Obama's health-care legislation costing $900 billion or so over a decade and worsening an already-bleak budget outlook.
Should the United States someday suffer a budget crisis, it will be hard not to conclude that Obama and his allies sowed the seeds, because they ignored conspicuous warnings. A further irony will not escape historians. For two years, Obama and members of
Tags: Obama, health care reform, big government, budget deficits, government spending, fiscal crisis, irresponsible spending, national debt
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