Here.
And yes, Jody and Eri, it is the entitlements:
^Of that $11–$15 billion, about $8 billion will be Medicaid - and that is the real budget problem faced by Texas and many other states. Rules changes associated with Obamacare will add about 71 percent to Texas's Medicaid expenses over the first ten years of implementation - that's Texas's out-of-pocket expense, not money that the feds reimburse under Medicaid - an increase that quite literally threatens to bankrupt the state. Analysts predict that Medicaid expenses could outstrip all state revenue within a few decades - meaning that Texas could not pay its Medicaid expenses, even if it dedicated 100 percent of its tax revenue to them. That is going to have to change, and I'm going to bet that Texas has better ideas for fixing that problem than Paul Krugman does.^
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Re: economic miracle - a better analysis
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- Another conservative economic miracle bites the dust...