Obama botches health care estimate – was $900 billion, now $1.75 trillion
Whoops. It’s important to note Obamacare has not even fully taken effect yet and stuff really starts kicking in one to two years from now. It really is true, you have to pass the bill to find out what’s in it and how much it will cost.
In his Sept. 2009 remarks to a joint session of Congress on health care, President Obama said the following after detailing all the things he would change.
Now, add it all up, and the plan I’m proposing will cost around $900 billion over 10 years — less than we have spent on the Iraq and Afghanistan wars, and less than the tax cuts for the wealthiest few Americans that Congress passed at the beginning of the previous administration. (Applause.) Now, most of these costs will be paid for with money already being spent — but spent badly — in the existing health care system. The plan will not add to our deficit. The middle class will realize greater security, not higher taxes. And if we are able to slow the growth of health care costs by just one-tenth of 1 percent each year — one-tenth of 1 percent — it will actually reduce the deficit by $4 trillion over the long term.
I can almost remember laughing out loud when I heard that … yeah, he was going to completely solve the health care problem for $90 billion a year. We’re not even one year along, and the Congressional Budget Office has revised their estimate. It’s now up to $175 billion a year, or $1.75 trillion over the next decade. This is clearly a doubling of the price tag.
Promises. Expire. Check out the CBO estimates if you’d like.
AP from at Hot Air..
Remember, they gamed this thing so that it wouldn’t take effect until 2014, which means that the cost of the first four years of implementation was essentially zero. That $940 billion figure really represented just six years of cost, not 10, but it was politically invaluable to Democratic messaging in letting them tout the bill as costing less than a trillion dollars. Now that we’re nearing 2014 and the 10-year window of cost projections has slid forward, you can see what this leviathan boondoggle really costs: $1.76 trillion, soon to top $2 trillion when the window slides forward another year in 2013 and the new projection reaches into 2023.
You realize don’t you, the game plan of the administration and Democrats is to make this so outrageously expensive when it comes to cost and regulations, employers will no longer be able to afford to provide coverage and nobody will want to be in the business. That’s what they want. Socialized medicine.
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