Martin Feldstein was chairman of the Council of Economic Advisers under President Ronald Reagan. Today he is a professor at Harvard and a member of The Wall Street Journal’s board of contributors. In this article (link to full text below) he says, “The administration’s claim that the health-care plan would be “self-financing” is both false and irrelevant. It is false because it would only be self-financing if one counts a variety of President Obama’s proposed tax increases—and even those would produce much less revenue than is assumed in the budget calculations. The claim is irrelevant because those tax increases have nothing to do with health care and could be used instead to reduce other projected deficits.”
ObamaCare’s Crippling Deficits | Wall Street Journal | September 7, 2009
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