The Congressional Budget Officeprojects that the law will cost double that, or $1.8 trillion.
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.
Our reward for all that spending will be another 13 million people dumped into the insolvent swamps of Medicaid, plus 7 million fewer Americans with decent employment-based insurance.
They carefully hid the cost of ObamaCare outside the 10-year projection window, front-loading revenues while holding the big spending surges at bay. ObamaCare critics – the single most vindicated group in American political history – warned about this sleight of hand at the time.
Also, bear in mind that “comprehensive immigration reform” uses the same trick, citing CBO estimates with 10-year windows when the truly massive cost surges would hit after 13 years or so. And that’s assuming the amnesty deal actually holds up, despite the inevitable pressure to grant citizenship, and full access to the welfare state, more quickly.
The following report chronicles the massive premium increases awaiting Americans when full implementation of the PPACA occurs in eight months, consumers purchasing health insurance on the individual market may face premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent. Meanwhile, small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent.
Sources-john Hayward, human events