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They think cutting the budget is a joke They're full of Obama's hope So the economy continues to tank And we the taxpayers are spanked But in November we'll unelect this dope.
Posted on 03/15/2012 5:09:24 PM PDT by geraldmcg
And the numbers just keep on coming.
Not that the White House or the Democrats on the Hill really cared to begin with, but the Congressional Budget Office (CBO) sharpened its pencils again and made another pass at sizing up the projected cost of Obama’s healthcare plan.
Hardly a news flash to economist Steve Beaman, entrepreneur and chairman of The Steve Beaman Group, a personal development company, the CBO’s new projected 10-year price tag is $1.76 trillion—nowhere near the original $940 billion sales pitch to get it passed.
Why so off? Because in the political games people play, the 10-year projection when the bill was passed in 2010, was really a six-year projection fudge, based on the law not going into effect until 2014.
Now the figures are based on 2013 to 2022. And, when they establish a true 10-year projection for the first time next year, the number is expected to jump again, landing closer to $2 trillion, more than double what Obama sold the public.
“I couldn’t bottle up a cynical laugh when I saw this revised CBO number,” says Beaman, “because my first thought was, ‘And this is a surprise?’ In the middle of the 1960s, when the government (before the CBO existed) scored the Medicare program, the original number was a maximum outlay of $90 billion by 1990.
Well, oops. The actual number turned out to be $900 billion. So, I fully expect the CBO to continually increase this estimate until it hits roughly $9 trillion or 10 times the original cost estimate. Once again, history repeats itself.”
ABOUT STEVE BEAMAN:
Steve Beaman is a self-taught, self-made millionaire and, presently, founder & chairman of The Steve Beaman Group (SBG), a personal development company working to help people along the five paths to a transformed life. He is the author of two published e-books, one print book to be published, a two-volume, 12 CD audio library, and more than 200 SBG-casts highlighting articles that have been published on each of the Five paths.
He has been the keynote speaker at numerous Chamber of Commerce events and industry conferences. He’s been a guest on televised financial programs and he hosts his own monthly radio program, Life Changes.
Prior to founding the Steve Beaman Group, Steve established DuPage Business Partners, a venture capital and private equity firm that used the capital he had accumulated through the sale of his prior company. Through DuPage Partners, he invested in several companies in various industries.
Beaman’s most public success was the co-founding, development and sale of Chicago Investment Analytics, the premier provider of independent research on Wall Street. In 2000, after a successful 10-year run, “CIA,” as it was known, was sold to Charles Schwab and became the foundation of what is now known as the Schwab Equity Rating. During his time there, Steve was called “the best in the business” by one of the largest money managers in the U.S.
Prior to founding CIA, Steve worked with Wharton Econometrics, Zacks Investment Research, and the E.F. Hutton Company. He is a licensed private pilot and a licensed scuba diver.
He studied political science and history at Purdue University and attends College Church in Wheaton, Illinois. He is the father of six children.
The chickens are coming home to roost. They always do...and so do the Roosters!
Nancy Pelosi knew that before the bill was passed. She INTENTIONALLY WITHHELD DATA from Congress to increase likelihood of passage. SHE SHOULD BE IN JAIL FOR FRAUD THAT WILL COST AMERICA BILLIONS $$$.
Why so off? Because the Rats LIED!!!!
They didn’t lie. They knew exactly what they were doing. Make up a number knowing full well it will triple or quadruple by the time it is done.
Can We The People initiate a class action case against the traitors in the US Congress who lied to us and shoved their AuschwitzCare down our throats?
The cost of Medicare is a good place to begin. At its start, in 1966, Medicare cost $3 billion. The House Ways and Means Committee estimated that Medicare would cost only about $ 12 billion by 1990 (a figure that included an allowance for inflation). This was a supposedly “conservative” estimate. But in 1990 Medicare actually cost $107 billion.
http://reason.com/archives/1993/01/01/the-medicare-monster
Given the fact that Congressional mendacity is more developed now than in 1966..we can definitely expect several orders of magnitude worse...
Thats not an opps, thats by design
Minimum 10x. Invest in guillotines.
How big is a trillion dollars ? It will it take 31, 564 years to pay off a trillion dollars.at a $1.00 a second of time . ..At a Billion dollars a $econd only 995.70 years . PS that does not include interest....
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They think cutting the budget is a joke They're full of Obama's hope So the economy continues to tank And we the taxpayers are spanked But in November we'll unelect this dope.
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