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December 17, 2009 / J. Shaw

Obama: U.S. 'will go bankrupt' without health care bill

President Obama told ABC News anchor Charles Gibson that the federal government “will go bankrupt” if Congress does not pass a health care bill, among other problems.

“If we don’t pass it, here’s the guarantee,” Obama said. “Your premiums will go up, your employers are going to load up more costs on you … Potentially they’re going to drop your coverage, because they just can’t afford an increase of 25 percent, 30 percent in terms of the costs of providing health care to employees each and every year.”

He added that the costs of Medicare and Medicaid are on an “unsustainable” trajectory and no is action taken to bring them down, “the federal government will go bankrupt.”



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