Posted on 10/29/2009 5:29:12 PM PDT by Jet Jaguar
The Congressional Budget Office said Thursday a U.S. House health-care system re-write would extend health insurance to 96% of the nonelderly U.S. population by 2019, and spend $1.055 trillion to do so.
Penalties imposed on individuals who did not purchase insurance, and employers who did not offer coverage to their workers, would raise $161 billion over that time-frame. That brings the net cost of the bill to $894 billion through 2019, CBO said.
House Democrats have seized on that net cost figure to claim that their bill is below President Barack Obama's upper limit which he set for health-care legislation of $900 billion.
The $1.055 trillion estimate also does not include $245 billion needed to stop Medicare payments to doctors from decreasing, which the House plans to address through separate legislation introduced Thursday.
The costs of the bill are fully offset by cuts to existing spending programs-- including the Medicare Advantage and other programs--saving $426 billion through 2019, and by tax increases raising $572 billion over that time, CBO said. In fact, the combined impact of provisions in the bill would be a net deficit reduction of $104 billion in the next decade, according to CBO.
CBO also said the House bill would not add to the deficit in the first decade beyond 2019--a key condition for support from fiscally conservative House Democrats.
CBO Director Doug Elmendorf, in a Thursday letter to House Democratic Chairmen, cautioned that his estimates are preliminary and "subject to substantial uncertainty."
House leaders capped weeks of internal negotiations among Democrats today by unveiling the sweeping legislation. They aim to bring the bill to a vote by the full House by the end of next week.
(Excerpt) Read more at nasdaq.com ...
The list, ping
Not one thin dime will add to the deficit....
Is that all? Shoo, that aint expensive. What’s a little ol’ trillion dollars?
Let’s vote!
Free health care. All it’ll cost you is your future.
"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus
“re-write would extend health insurance to 96% of the nonelderly U.S. population”
Nonelderly? Obama and Co. are throwing grandma and grandpa under the bus.
Oboma said he wouldn't sign a bill that increased the deficit in any way. That means the democrats are going to have to steal the money from somewhere else. Guess who's going to end up paying for it? Do you have a job?
If you want the true cost, multiply this pricetag by three.
"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus
We will go broke and welfare recipients will get their mortgage paid a new roof and windows for their home (SEE THE GREEN OR SOME SUCH PORK BILL) and a free cell phone https://www.safelinkwireless.com/EnrollmentPublic/home.aspx
Penalties imposed on individuals who did not purchase insurance, and employers who did not offer coverage to their workers, would raise $161 billion over that time-frame. That brings the net cost of the bill to $894 billion through 2019, CBO said.
Um, no, the cost would still be $1.005 trillion, it's just that $161 billion of that would be paid for by fines that deprive people of their liberty to chose to not be insured or try to run a business which doesn't offer employees health insurance (not health care--only physicians, hospitals and the like provide health care). The remaining $894 billion would be paid for by raising taxes on the 49% who still pay them (I know it's 53% now, but just wait) and printing money, thereby ruining everyone with inflation.
The Sham-Wow bill..
sw
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