Cost of ObamaCare Doubles
Democrats had delayed implementation of the major spending provisions until 2014, so that 98 percent of its $940 billion projected cost came in the last six years of the Congressional Budget Office’s 10-year budget window. This allowed Democrats to claim the legislation met Obama’s pledge that the law would cost “around $900 billion over 10 years,” even though the true cost was far higher. Yesterday, the CBO released new projections from 2013 extending through 2022, and with the shifted timeline, the ten-year cost of the law’s core provisions to expand health insurance coverage has now escalated to $1.76 trillion. So I’ve created the updated graph below. Notice how low the numbers are in the 2010 to 2013 time period and how they quickly soar. All the spending to the right of the black line wasn’t reflected in the CBO’s estimate for the Patient Protection and Affordable Care Act (PPACA) at the time of passage.
Source: Philip Klein in the Washington Examiner
Who woulda thought.
Very interesting graph.
Fascinating graphic.
It’s actually an ugly graph.
At first glance, the cost of the ObamaCare coverage expansions is around one-quarter of a trillion dollars per year — rising about 6% annually. However, I really expect the true figure to be much higher than that, rising at near double-digit rates.
I expect the CBO to come out with revised estimates again, within a few years.
Remember that this was all necessary to solve the $43B a year uncompensated care “problem.” Only Congress could pass a 10-year $1.76T program to solve a ten-year $430B problem.
Okay I get it, this is a depressed economy and there is no money; however, I am not so sure that I am in looking at the graph as impressed with the graph however, at the point of not giving others who need healthcare, health care. This is a country that has a lot of issues, debts, and money we do not have. I want to be able to help the elderly with health care reform and that means eliminating high costs in medical professionals, and taxing the wealthy so that they can pay their tax amount, e.g., the Mitts Romney’s and Paul Ryan’s of America. Pulling your tax returns is what was asked and if we want to stop calling the kettle black, we need to all be doing our fair share. While the Romneys and Pauls of American have no idea what they are talking about. I have talent, have worked in my business now for 15 years on my own because the jobs are not always available.