Live From Rio Rancho….

Health care costs are on everyone’s mind, including some of the 2,300 or so New Mexicans who crowded into the Rio Rancho High School gym yesterday for President Barack Obama’s townhall meeting on credit card company abuse.

The first query right off the bat was about healthcare, and Obama ably converted the townhall into a forum about why he believes significant health care reform must be achieved by Labor Day.

“Medicaid and Medicare costs are the single biggest driver to deficits and national debt, as well as Social Security, defense and interest on the national debt,” he told the Rio Rancho crowd. “These are the lion’s share of the national budget. Most of what’s driving us into debt is health care.”

In today’s Wall Street Journal, Obama’s Office of Budget and Management director Peter Orszag writes more about why Obama believes health care reform is key to American’s fiscal future – and why it needs to be done now.

Go and read it. You’ll be glad you did.

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