CBO: ObamaCare’s Gross Costs Over 10 Years May Be Nearly Twice White House’s Original Projections
Universal healthcare. A noble idea- if a nation can afford it.
As for “ObamaCare,” the more time that passes since the Affordable Care Act was enacted on March 23, 2010, the more expensive the projected numbers are getting.
Howard Sheppard reported on the website of Central Pennsylvania FOX affiliate WPMT FOX 43 yesterday:
The gross costs of the national healthcare law rammed through Congress by President Barack Obama will reach an estimated $1.76 trillion over 10 years – nearly twice the amount originally projected. The figure, which the Congressional Budget Office (CBO) revealed on Wednesday, is bound to cause embarrassment to the administration as it comes just as debate on “Obamacare” is starting to heat up again, two weeks before the Supreme Court is set to hear arguments on whether the Affordable Care Act is unconstitutional…
Original White House estimates said the gross cost of the healthcare act would be $940 billion over a decade, but the CBO’s new figures raise that figure to a shade under $1.5 trillion. For the 10 years from 2013-2022 that increases even further to $1.76 trillion.
(Editor’s note: Italics added for emphasis)
Back on March 1, I noted that according to a Government Accountability Office (GAO) report released February 26, ObamaCare will increase the long-term federal deficit by $6.2 trillion.
$6.2 trillion.
Considering the growing instability of the U.S. financial house of cards, one might wonder if the costs associated with universal health coverage won’t be the straw that eventually breaks the camel’s back.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
Sheppard, Howard. “CBO: Obamacare estimated cost nearly double to $1.7 trillion.” FOX Central Pennsylvania. 16 May 2013. (http://fox43.com/2013/05/16/cbo-obamacare-estimated-cost-nearly-double-to-1-7-trillion/#axzz2TYdCQnzp). 16 May 2013.
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