Obama Stresses Need to Curb Medicare, Medicaid Cost While Skirting Details
Bloomberg
Feb. 16, 2011
"To arrest the debt, Obama and Republicans can’t avoid tackling entitlement programs, whose cost is expected to balloon by $6.85 trillion over the next 10 years, according to an analysis by the Bipartisan Policy Center in Washington...
'They’re fighting over trivialities,' said Steve Bell, a senior adviser to former Senate Budget Committee Chairman Pete Domenici, a New Mexico Republican and chairman of a debt commission sponsored by the Bipartisan Policy Center.
'Do you know what happens if the Republican and president’s plans are passed? Nothing,' Bell said. 'It makes virtually no difference in the path of the deficit and the debt.'"
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Infographic
Based on the housing industry’s average share of Gross Domestic Product (GDP) from 1980 to 2007, the infographic illustrates that 2.3 percent or $350 billion is “missing” in potential growth.
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