Gibbs on gigantic national debt: Hey, don’t forget the savings in ObamaCare

(Hot Air) - Pity this poor bastard, left with no choice but to resort to just the sort of lamer-than-lame talking point that made that SNL skit over the weekend so grimly funny. Click the image and skip ahead to -2:03 for Tapper’s segment on our mind-boggling national debt, where you’ll find Gibbs enthusiastically reminding him that Reid’s health-care bill will produce a whopping $130 billion in savings over 10 years. Minor point one: As previously noted, $130 billion is less than the deficit incurred just last month. Minor point two: As hopefully everyone knows by now, the only reason Reid’s bill costs as “little” as it does is because it doesn’t go into effect until 2014. The “10-year cost” is actually the five-year cost from 2014 to 2019. A true 10-year projection would score the bill at … $1.8 trillion.

Minor point three: Our debt is now so astronomical that, by 2019, the interest on it alone will amount to $700 billion annually — the equivalent of one new TARP per year. And that’s if interest rates stay low.