| CBO Report Shows Obamacare Costs Nearly Double: $1.7 Trillion |
| Mar-14-2012 |
| Keywords: obama, healthcare reform cost, 1.7 trillion, double original projection |
If the President was feeling defensive about his administration's bungling of its handling of soaring gas prices, he's likely quivering in the wake of news that his signature healthcare reform legislation is actually going to cost nearly double the original projections.
The Congressional Budget Office now puts the total cost of "Obamacare" at more than $1.7 trillion; nearly double the original projected cost of $940 billion.
The new 10-year projections cover nine years of ObamaCare's implementation (2013-2022). Original estimates counted only six years of implementation - a budget gimmick to obscure the true cost of the law. At this rate, the conservative estimates of Obamacare's cost will be $2 trillion over 10 years, not the $1 trillion that President Obama promised.
In addition to the skyrocketing cost of the healthcare reform legislation, the report shows that by 2016, Obamacare will result in 4 million people fewer people getting health insurance coverage from their employers.
The estimate is a vast increase from the CBO prediction just a year ago that 1 million would no longer obtain coverage from their employers. And it raises substantial questions about the veracity of one of Obama's key pledges in selling the health care law - that everyone who wants to keep their current health insurance plan and doctor could do it.
Full Story: ObamaCare: If Possible, The News Is Getting Worse |
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Posted by Lou Dobbs Staff at 12:04 PM Email to a friend |
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