Defraying the immense costs of Obamacare is dependent on one thing: cutting Medicare. If we can’t cut Medicare, we can’t afford Obamacare. It’s that simple. Dr. David Gratzer comments:

As a psychiatrist, I’ll break the bad news gently: Medicare cuts are like Santa Claus and his flying reindeers – often talked about, never actually seen.

As Gratzer points out, the federal government has waged a losing battle to control Medicare spending for decades. Nevertheless, we now spend twice what we did on Medicare a decade ago. Lawmakers simply fear the fallout of cuts. Ergo: Medicare cuts are fantasy. Ergo, the entire edifice of Obamacare is build on a financial fantasy.

But, if it happens, our tax increases won’t be imaginary.