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CBO: Obamacare to Cost $1.76 Trillion over 10 Years



byPhilip Klein Senior Editorial WriterOriginal Link: http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/cbo-obamacare-cost-176-trillion-over-10-yrs/425831

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 Only next year will we get a true ten-year cost estimate, if the law isn't overturned by the Supreme Court or repealed by then.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.


Added: Mar-14-2012 Occurred On: Mar-14-2012
By: copperdog3
In:
Politics
Tags: Obama, Obamacare, cost, CBO, travesty, trillion, told-you-so
Location: United States (load item map)
Views: 691 | Comments: 30 | Votes: 2 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • Awe looky.... Rush Limbaugh was correct about obamacare, and ALL the libs on LL were wrong.


    go figure

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  • Well of course it is... you didn't think they were being honest, did you? You have to pass it to know whats in it, and you have to implement it to know what it will cost!

    Welcome to the age of government for the government by the government.

    Let's clean house in 2012 - its not too late.

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  • For those of you (libs) that are bad at math, that's TWICE what we were told way back when. Is there ever a reason to trust the government?!? For ANYTHING?

    Calling all libs: We told you so.

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    • @copperdog3 yes, the cost just went up from $.60 a day to $1.04 a day. fuck you must be really poor if this is gonna break your bank.

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    • @copperdog3 How are those two wars that were were told would be a quick in and out going? How about all the financial deregulation that we were told would be good for everybody? What's up with those tax cuts Bush gave us? Did they stimulate much growth?

      Bush wastes a shit ton of money and you're silent. Obama is forced to spend more to provide services for our increasingly beleaguered poor and to keep aggregate demand flowing, jobs in America and keep unemployment from getting too high. It's l More..

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    • @circularlife ~"fuck you" must really be stupid, or think we are, posting your bullshit on here.

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    • @circularlife: You must be really stupid if you believe that is the true cost the true number.

      How is the Postal Service or AMTRACK going? Government run and BANKRUPT!
      I’m guessing you’re either a government employee or living off the tax payers dime.

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    • @Moore Slayer lets see your math then.

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  • Isn't it hilarious how fervently he screamed for the thing to be passed (and most of his idiot supporters did as well) and his own budget office shits their pants when they realize that it is going to cost twice what they thought?

    Ah...liberals not understanding what they're doing and what damage it will cause. Nothing new!

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  • doesn't seem like that much when you compare it to how much the military budget is for just one year

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    • @trailertrashrnr amen to that. 200 billion a year to make sure everyone has health care vs 800 billion to make sure.......well i'm not sure what that 800 billion defence budget is for actually but yea.

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    • @circularlife: You must be mentally retarded or illiterate; you’re in favor of GOVERNMENT MANAGED HEALTHCARE but support Ron Paul and constitutional conservative wow what a tard.
      Ron Paul is the LAST person you should support if you support the unrestrained role of government ad social engineering. You’re just a bad troll right?

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    • @Moore Slayer huh, and here i thought we were talking about the waste of 800 billion dollars through the DOD. show me where i said universal healthcare is the answer............ yea, i didn't. I said 200 billion for the affordible health care act is a much easier pill to swallow than 800 billion a year being shit straight down the drain for no purpose.

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  • No problem, just print more money.

    Posted Mar-14-2012 By 

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  • 2 poorly managed and ill conceived wars 5 trillion and the Bush tax cuts that cost us 2.5 trillion. Then throw on the recession caused by conservative touted deregulation of banks, the deregulation of financial institutions, and the blocking of regulations concerned with credit default swaps and other financial derivatives and you see an almost 35% drop in tax rates which comes up with about 1.5 trillion dollars. The difference? One of them provides healthcare options for people and actually ben More..

    Posted Mar-14-2012 By 

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    • @BigDaddyHarrison ~I'm glad obunghole held to his campaign promise and halved the deficit....opps.

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    • @BigDaddyHarrison Classic. Dfaug blocks me from commenting then comments on my comments. Care to answer my points Dfaug? No? Didn't think so.

      The President misunderstood the scope of the recession. Everyone did. It contracted by almost 9%, triple almost everyone's estimate.

      "Everybody who is out there back in 2009, if you look back what their estimates were in terms of how many jobs had been lost, how bad the economy had contracted when I took office, everybody underestimated it. People t More..

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    • @BigDaddyHarrison i personally think obama is a scumbag, but i agree with you 100% without medicare part D, the iraq fiasco, and allowing the banks to go ape shit we wouldn't be having an exploding defecit conversation to begin with.

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    • Comment of user 'PimeTaradox' has been deleted by author (after account deletion)!
  • Tacos rule!

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    • Comment of user 'PimeTaradox' has been deleted by author (after account deletion)!
  • ~well, that's only TWICE what obunghole and the democraps said it would cost.

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  • 2 trillion in 10 years is 200 billion a year. 200 billion a year divided by 500 million taxpayers (corporate/individual/ect.) is $400 a year per taxpaying entity. are you really going to bitch about $32 a month? try moving out of your fancy right to work state with your $8/hr job and a dollar a day seems trivial to the point of me wasting the time to write a paragraph about how stupid you are.

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    • @circularlife: I already have full health care coverage and I don’t want my heath determined by some paper pushing hack with a blank checkbook in Washington. YOU can live under social engineering I prefer self determination.

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    • @Moore Slayer so it's not about the $32 a month now? pretty sure that's what the title equates.

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