The GAO update on the Government’s long-term fiscal outlook

The GAO has released its fall 2010 update for the Federal Government’s long-term fiscal outlook.  The bottom line is that we must come up with a real plan, and soon, to deal with the ever-growing cost of Medicare, Medicaid, and Social Security — but, of course, we knew that already.  What’s new (I think) is that the report credits the cost-control provisions of the ACA with postponing the day of reckoning — as long as we don’t succumb to the temptation to weaken them.  The ACA is a net deficit reduction act — according to both the CBO and Medicare trustees.  If the Republicans want to repeal it, they need to find new funds to make up for those lost by the bill’s repeal.

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