And they say it'll reduce the deficit.

(HotAir)

Serious Question: Is it even worthwhile to talk about the effects of ObamaCare on the deficit in isolation from the rest of its effects on the economy at large?

I have to admit, I've pounded the bill on several occasions because of past CBO estimates indicating that it would cause the deficit to explode. 

But I'm wondering whether anyone can realistically predict the effect of any given piece of legislation like ObamaCare. You'd have to do so independently of everything else that affects the deficit, right? I mean, I'm sure someone out there has the wherewithal to attempt such a monumental task as calculating the deficit 10 years out, but you could only do it using the data we have today. 

For example, Medicare enrollees will explode as the baby boomers retire. Spending therefore will rise dramatically. There are studies out there that analyze the effect of that spending on Medicare. I haven't seen a study yet that analyzes it in terms of the U.S. macro-economy.

And that's the point, I don't know if it's even possible because in reality, none of the revenue collected by the feds is earmarked for any specific purpose. It's a giant Ponzi scheme where money is collected, borrowed, shuffled, filtered and spent in ways that are incomprehensible with any kind of logic. 

I'm going to make a pledge not to engage in this speculation anymore. I'll continue to bring you the news as it happens, but I'm not going to talk about it like it means anything. Good or bad.

Deficits matter. That much is clear. All I'm saying is that the deficit argument is useless to this debate, considering that it's already upwards of 9 trillion and accurate forecasts are next to impossible.

There are far more terrible parts of this entire idea than budget deficits. We need to focus on those.

Individual mandates, taxes, abortion, illegal immigrants, Congressional exemption, Constitutionality....the parade of horribles is endless. 

I for one am dumping talk of the effect on the deficit because I think it's pointless. As I said though, I'll bring it to you when it happens, but I'm taking my foot off the gas.

Russ