Saturday, February 19, 2011

CBO: Obamacare will cost $1.4 Trillion over next 10 years

Obama Health Law: What It Says and How to Overturn It (Encounter Broadsides)

The budget gimmick years, where there are taxes but not large costs, are dropping off the CBO analysis of Obamacare. Now, Americans ca see the true costs.
(American Spectator) — Repealing the new national health care law would result in gross savings of $1.4 trillion, a new report by the Congressional Budget Office finds.

During the health care debate, Democrats were hard pressed to keep up with President Obama’s promise that the legislation would cost “around $900 billion.” So they employed the gimmick of delaying the major spending provisions until 2014 to make the legislation appear cheaper within the CBO’s ten-year budget window, then 2010 through 2019. At the time, I calculated that this tactic deferred 98 percent of the spending to the last six years of that period. Well, now two years have passed, and the CBO’s budget window has shifted to 2012 through 2021 — and voliĆ  — the estimate that was $940 billion at the time of passage has suddenly gone up to $1.4 trillion. Read more here.

No comments: