The focus of the last several days has been the scandals coming out of the Obama Administration. But while Americans were distracted, though understandably given the troubling scandals that have been in the news, Philip Klein notes that the Congressional Budget Office (CBO) now estimates that ObamaCare will cost $1.8 trillion over the next 10 years:
When President Obama was selling his health care legislation to Congress, he declared that “the plan I’m proposing will cost around $900 billion over 10 years.” But with the law’s major provisions set to kick in next year, a new analysis by the Congressional Budget Office projects that the law will cost double that, or $1.8 trillion.
What accounts for the dramatic difference? It’s true that at the time of passage, the CBO said the gross cost of the law’s provisions to expand insurance coverage would be $940 billion over a decade. But as many critics of the health care law pointed out at the time, this number was deceptive because it estimated spending from 2010 through 2019 even though the program’s major spending provisions weren’t scheduled to go into effect until 2014. Effectively, the original estimate measured the cost of six years of Obamacare instead of 10.
Now, as implementation approaches, CBO has released projections for the 2014 to 2023 budget window — the first actual decade of Obamacare — and the gross cost projection is $1.8 trillion.
The report also estimates, as Klein pointed out, that 7 million fewer people are expected to have employer-based health insurance coverage, likely because businesses would rather pay a fine than offer coverage.
The cost explosion comes because the government started collecting various tax hikes enacted as part of the law as far back as 2010, while the major outlays tied to the law don’t begin until next year. The 10-year cost really had about seven years worth of spending. It was accounting gimmick designed to make the law more appealing to potentially vulnerable colleagues — remember, Democrats wanted to keep the cost of the law under $1 trillion.
Time to Takedown Google - CSS - Hagmann and Hodges - 4/23/17 (Hour 1)
US Military Used Newborn DNA for Terrorist Profiling? (video)
Alex Jones - HD Commercial Free - Monday (4-24-17) Tommy Thommes and Tommy Robinson
Holocaust in Venezuela - US Is Next - Are You Ready?
X22Report Either This Is a Secretive Plan That Will Benefit America or Prepare for the Worst - Episode 1262b
Bundy Ranch: Judge Forced to Declare Mistrial in Bundy Ranch Protest Trial (Video)
Oh Boy: US Preparing to Evacuate 230,000 Americans From South Korea and Pence Stated Storm Clouds Are Gathering (Videos) Couragous Channel
President Trump Attacking North Korea
Hollywood Targeted Individual Stephen Shellen Shocking Plea Reverberating Globally
Benjamin Fulford Update Apr 24, 2017
Political Insider Spills Paramount Secret, “We’re at War!” The Card Has Just Been Played
Could This Be the Root Cause of Inflammation and Many Modern Diseases?
This Doctor Delivers the Best Explanation and Treatment for Alzheimer’s
Why Earth’s Winds are Changing with Tornadoes, Waterspouts & Plasma Lightning Intensifying
American Airlines flight attendant ‘whacks a mother in the head
TradCatKnight: Coronal Hole From Sun Could Put Power Grids In Danger Next Week – Produce Mass-Blackouts
Elite Rituals You Need To Know, Child Drag Queen Hour & Giraffe Baby Live
Big Changes May Be Coming To The Gas Pump Very Soon
BART Takeover Robbery: 40 to 60 Teens Swarm Train, Rob Weekend Riders
Taliban attack kills or wounds 160 Afghan soldiers at northern army base
Chili Peppers and Marijuana Calm the Gut
Store Owner’s Fight Against Robbers Caught on Camera (Video)
Mind Your Brains, You Might Be Under Attack! Have a Strong Coffee and Watch!
The Secret of Antarctica: "Astronaut Buzz Aldrin: the Timer "The End" Is Not a Joke"
Water Is Not What You Think it Is
A Very Important Announcement--- The Nature of the Battle
Eastridge Murals x ADLC
Trojan Horse - by Judge Anna von Reitz
NASA Astronaut Peggy Whitson Sets US Space Endurance Record, Speaks to President Trump
The Mystery of the 'Golden Ratio' Explained