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CBO's new estimate. Obama care costs to double what was projected.

Birthpangs 2012/03/14 13:25:37
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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.


Today, the CBO released new projections from 2013 extending through 2022, and the results are as critics expected: the ten-year cost of the law's core provisions to expand health insurance coverage has now ballooned to $1.76 trillion. That's because we now have estimates for Obamacare's first nine years of full implementation, rather than the mere six when it was signed into law. Only next year will we get a true ten-year cost estimate, if the law isn't overturned by the Supreme Court or repealed by then. Given that in 2022, the last year available, the gross cost of the coverage expansions are $265 billion, we're likely looking at about $2 trillion over the first decade, or more than double what Obama advertised.



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    • KoAm 2012/03/14 14:03:46 (edited)
      More lies from Obama, and more debt for the nation.
      KoAm
      +5
      Nobody, and I mean nobody, should be surprised at this.

      That's because every time the government estimates the cost of something, it ends up actually costing a hell of a lot more.

      Especially when it's a government being run by Democrats.

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    • MW121 2012/03/14 21:47:05
      More lies from Obama, and more debt for the nation.
      MW121
      Did anyone actually think overhauling the entire healthcare system was going to be good or save taxpayers money.. give me a break.. we haven't even begun feeling the full effects yet.. It's going to be bad bad bad... I've already seen a number of phyician groups around town close their doors on new patients as well as a number that are retiring at the end of this year and a number that are opting out of medicare.. It's going to get worse...
    • Birthpangs MW121 2012/03/14 22:43:14
    • Max Nastic 2012/03/14 15:18:18
      More lies from Obama, and more debt for the nation.
      Max Nastic
      +1
      What? Obama lied? Noooooooo, say it ain't so.

      Look, if Obama utters a word, its a lie! it really is that simple.
    • MichaelJ 2012/03/14 14:56:00
      More lies from Obama, and more debt for the nation.
      MichaelJ
      Some will say that the President was mistaken about the true cost of this legislation but I don't think he was confused about it's cost. It was pointed out that his cost figures were not based on fact by the CBO when the legislation was being considered.

      The President certainly isn't the first politician to lie but he has been the most blatant about it.
    • Birthpangs MichaelJ 2012/03/14 14:58:17
    • Don 2012/03/14 14:38:01
      More lies from Obama, and more debt for the nation.
      Don
      +2
      In liberal world, didn't they call this thing the affordable health care act?
      Is this what Pelousy was talking about - pass the bill to find out what's in it?
      Democraps are frauds.
    • KoAm 2012/03/14 14:03:46 (edited)
      More lies from Obama, and more debt for the nation.
      KoAm
      +5
      Nobody, and I mean nobody, should be surprised at this.

      That's because every time the government estimates the cost of something, it ends up actually costing a hell of a lot more.

      Especially when it's a government being run by Democrats.
    • Birthpangs KoAm 2012/03/14 14:09:40
    • Birthpangs 2012/03/14 13:26:34

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