CEA's Shapiro Sounds Off Against Health Reform
Gary Shapiro would rather be the industry cheerleader he's always been. But when it comes to the long-term impact of the new health care reform law, the president and CEO of the Consumer Electronics Association sounds more like Cassandra, the prophetess of Greek mythology who warned of tragedy to come.
Since health reform was signed into law in late March, Shapiro doggedly has sounded the alarm in media forums that include Huffingtonpost.com, investors.com and Fox News Network, contending that the current law will have disastrous impact on the federal deficit and the national economy.
Whereas some government reports contend health care reform will be deficit neutral, Shapiro contends that health care reform will actually create $2 trillion in new deficit over 10 years and require annual interest payments in 10 years of a trillion dollars just to service this debt.