Statement by Ron Paul on CBO's Obamacare Cost Projections

LAKE JACKSON, Texas — Today Congressman and 2012 Republican Presidential candidate Ron Paul released the following statement regarding the revised Congressional Budget Office (CBO) projections on the costs of Obamacare:

"The CBO's revised projection that Obamacare will cost $1.76 trillion over 10 years is simply the latest evidence that America cannot afford Obamacare. My 'Plan to Restore America' not only reduces federal spending by $1 trillion in the first year of my Presidency, balances the budget in three years, and jump-starts the economy with tax and regulatory relief, it also repeals Obamacare.

"On my first day as President, I will use my constitutional authority to stop enforcement of the unconstitutional national healthcare law. I will then work with Congress to repeal Obamacare and replace it with initiatives that restore a true free-market in healthcare, such as expanded access to Health Savings Accounts and individual healthcare tax credits and deductions.

"Of all the five men seeking the nomination of a major presidential party—President Obama, Mitt Romney, Rick Santorum, Newt Gingrich, and myself—I am the only one who is a physician, the only one who has consistently opposed government intervention in the healthcare market, and the only one to propose a serious plan to do what is needed to Restore America Now."