Posted on 03/13/2012 3:00:10 PM PDT by GlockThe Vote
President Obama's national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law.
Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO's standard ten-year budget window and, at least on paper, meet Obama's pledge that the legislation would cost "around $900 billion over 10 years." When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation.
(Excerpt) Read more at campaign2012.washingtonexaminer.com ...
Probably more.
And there are other costs — our freedom and maybe our lives.
Wow! That number is rather low. Multiply that number about 10 and you’ll get the real figgir!
Then read all of the UK nightmare news articles about their National Health System (NHS) and that’s the level of service you’ll be receiving in just a few years for that monetary figgir!
Low by at least a factor of five, once the courts get through ruling that cradle-to-grave psychiatric services, His’n’Hers Lincoln Navigators, and annual Carnival Cruises are an “essential part of cost-effective health care” for certain favored demographic groups.
Heh. We all knew that Pelosi and Reid were leaning hard on CBO to goose the projected numbers below a trillion to get Obamacare through Congress, and now CBO confirms it. The idiot congressmen and women who went along with it should be tarred and feathered.
Be damned, you mean giving away free stuff costs money? Who knew?
Yep. Physician salaries go down, the number of bureaucrats and their salaries goes up, quality of care and options go down, our preeminence in medicine and biomedical science goes down, and it costs us a lot more. Sounds like a typical liberal plan.
The only good news for me, and I’m sincere when I say this, is that I probably won’t live as long and thus won’t have to deal with living in their society.
OMFG X 1000!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
No biggie, we can just dip into the reserves, cut all defense spending, and raise taxes to pay it off.
Its going to cost $9 trillion over 10 years in the end imho
WTF???
No way!
It confirms what we already knew. The CBO can only score what is given to them. Medicare costs nime times what the original estimate for the program was.
Who is going to pay for the mess Obama and Democrats have created?
I really am speechless over this. dont know what to say.
It’s worth keeping in mind that what the CBO did today was update its forecasts for the cost of expanding insurance coverage under the health care law. That represents, by far, the bulk of the spending in the legislation, but it doesn’t constitute a full rescoring of the law or a revised deficit estimate. That would have to include estimates for all the taxes, Medicare cuts and other spending in the law. Also, the $1.76 trillion cited above is for the years 2013 through 2022, but if we want to compare changes to last year’s estimates, we have to use the comparable years of 2012 through 2021. (Estimates for 2022 only became available today.)
The CBO now projects that from 2012 through 2021 the federal government will spend $168 billion more on Medicaid than it expected last year, $97 billion less on subsidies for people to purchase insurance on government-run exchanges and $20 billion less on tax credits to small employers. That works out to a $51 billion increase in the gross cost of expanding coverage from what the CBO estimated a year ago. However, the CBO also expects the federal government to collect more revenue from penalties on individuals and employers, as well as other taxes. These revenue increases will more than offset the spending increases, according to the CBO, so it now expects the cost of Obamacare during those years to be $48 billion lower.
The states have to pick up half the tab for medicaid!
I swear - if we dont immediately oust this communist leech from office in november, we really could be on the brink of game over for this nation.
Agree. And the additional taxes/penalties associated with Obamacare will sink the economy even further.
OBAMA lied and the Country died!
they’ll have government funded trips to Bangkok for sex offender treatments.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.