Get out your wallet: CBO says ObamaCare to cost twice the original estimates.

According to a new projection released by the Congressional Budget Office, ObamaCare will cost $1.76 trillion over a decade,  rather than the $940 billion forecast when it was signed into law.

image

The CBO now projects  that more people will be obtaining insurance through Medicaid than it estimated a year ago at a greater cost to the government, but fewer people will be getting insurance through their employers or the health care law’s new subsidized insurance exchanges.

According to the Washington Examiner:

Democrats employed many accounting tricks when they were pushing through the national health care legislation.

The most egregious of the accounting tactics 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.

The projection for 2022, the last year available, indicate that the cost is likely to exceed $2 trillion over the first decade, or more than double what Team Obama advertised.

Surprise, surprise, surprise.

>> Latest Posts

Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s