New estimates released from the CBO suggest that ObamaCare will cost at least $1.76 TRILLION over ten years — up from the $900 Billion touted by Obama.
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.
By this time next year, we’ll have the full ten years (2014 – 2023) time frame to get the truest estimate of cost, which is likely to exceed $2 trillion.
Philip Klein, the Washington Examiner correspondent who covered the above information, also released a corollary article that discusses the impact of employer health-care changes and the rising number of Medicare recipients on ObamaCare costs and coverage. And for those who love raw date, the entire CBO report can be accessed here.
$2 Trillion is far, far different then $900 billion. No wonder HHS Secretary Sebelius claimed during testimony that she has no idea if ObamaCare will add to the deficit. The Supreme Court case at the end of this month will be worthwhile keeping an eye on. Hopefully they’ll overturn this monstrosity of a bill and safeguard the American people.