Coburn: ObamaCare Will Bankrupt the States and Then Some
Senator Coburn (R-OK) and Senator Barrasso (R-WY) have released a report, Grim Diagnosis, analyzing the effects of new federal health care law. It is chock full of important information but one section should be especially worrisome to state governments: Washington mandates will send state costs skyrocketing. Of eight states profiled, the 10-year cost of expanding Medicaid amounts to $41.7 billion dollars. The report also notes a byproduct of Medicaid expansion is increased wait times and overcrowding in the Emergency Room (ER). Doug Holtz-Eakin, former director of the Congressional Budget Office, estimates that Medicaid patients will use the ER 68 million times costing an additional $36 billion through 2019 due to the new health care law.
Maybe the states will succeed in getting the whole thing declared unconstitutional.
Promises that the federal government will cover 100% of the costs initially and then 95% through 2019 are not all inclusive. My recent brief analysis on the topic explains how the additional costs will strain state budgets. http://www.ncpathinktank.org/pub/ba729
I think this is going to be devastating for the sates.
I love the prognostications of the conservative elite as they attempt to scare people to bite off their nose to spite their face.
Where can I get my crystal ball?