The Beacon Hill Institute in Massachusetts has just released a very good – but very depressing study. The research finds that costs have jumped under Romneycare, but that’s not surprising. After all, politicians always underestimate the cost of new entitlements.
The important revelation in this new research is the degree to which the system has been propped up by the federal government (i.e., taxpayers in the rest of the nation).
That’s probably good news for Bay State politicians, who get to shift a fiscal burden to people outside the state, And it’s probably good news for Mitt Romney, because it somewhat disguises the magnitude of the disaster he imposed on the taxpayers of his state.
But it doesn’t bode well for the United States. Who will be available to bail out Obamacare? The Chinese? Martians? The Federal Reserve creating money out of thin air?
While you ponder those questions, here are some key excerpts from the study...
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