The Congressional Budget Office has released a new estimate of Obamacare’s 10-year costs and, to the surprise of almost no one who was paying attention when the unpopular legislation was rammed through on lies and accounting tricks, the government’s takeover of the health care system will cost about double what we were promised.
We didn’t want it at $900 billion, and we sure as hell don’t want it at $1.8 trillion.
Thanks, Patrick Murphy. Maybe if you get to be Attorney General, you can put yourself in jail for fraud.
Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO’s standard ten-year budget window and, at least on paper, meet Obama’s pledge that the legislation would cost “around $900 billion over 10 years.” When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation.
Today, the CBO released new projections from 2013 extending through 2022, and the results are as critics expected: the ten-year cost of the law’s core provisions to expand health insurance coverage has now ballooned to $1.76 trillion. That’s because we now have estimates for Obamacare’s first nine years of full implementation, rather than the mere six when it was signed into law.
Of course, that $1.8 trillion figure is only going to go up in next year’s estimate, when the last of the taxes-but-no-benefits years Pelosi, Reid and Obama used to game the system into reporting a number they could sell falls out of the calculations.