CBO: Obamacare to Cost $1.930 Trillion, Leave 30 Million Uninsured | The Weekly Standard
CBO: Obamacare to Cost $1.930 Trillion, Leave 30 Million Uninsured
The latest CBO scoring of Obamacare, in the wake of the Supreme Court's 5-4 decision upholding the overhaul's individual mandate as an allowable (although seemingly unprecedented) tax on inactivity, shows that President Obama's centerpiece legislation would cost about $2 trillion over its real first decade (2014 through 2023). The CBO also says that — despite its colossal cost and its unprecedented expansion of power and control over Americans' lives — Obamacare would, as of a decade from now, leave 30 million people uninsured.
At the time of Obamacare's passage, Democrats touted the fact that the CBO had then said that the gross cost of Obamacare's insurance coverage provisions would be "only" $938 billion. But that was for 2010 through 2019, while Obamacare wouldn't really even go into effect until 2014. Now, the CBO says that the gross cost of Obamacare's insurance coverage provisions over the 9-year span from 2014 through 2022 would be $1.674 trillion. Even if one were to assume that Obamacare's annual costs, which the CBO says would rise by between 3.6 and 9.5 percent during each of the final five years of its scoring, would suddenly stop rising altogether in 2023 and would remain at $256 billion — the cost for 2022 — the tally for Obamacare's real first decade (2014-23) would be $1.930 trillion.
CBO: Obamacare to Cost $1.930 Trillion, Leave 30 Million Uninsured
The latest CBO scoring of Obamacare, in the wake of the Supreme Court's 5-4 decision upholding the overhaul's individual mandate as an allowable (although seemingly unprecedented) tax on inactivity, shows that President Obama's centerpiece legislation would cost about $2 trillion over its real first decade (2014 through 2023). The CBO also says that — despite its colossal cost and its unprecedented expansion of power and control over Americans' lives — Obamacare would, as of a decade from now, leave 30 million people uninsured.
At the time of Obamacare's passage, Democrats touted the fact that the CBO had then said that the gross cost of Obamacare's insurance coverage provisions would be "only" $938 billion. But that was for 2010 through 2019, while Obamacare wouldn't really even go into effect until 2014. Now, the CBO says that the gross cost of Obamacare's insurance coverage provisions over the 9-year span from 2014 through 2022 would be $1.674 trillion. Even if one were to assume that Obamacare's annual costs, which the CBO says would rise by between 3.6 and 9.5 percent during each of the final five years of its scoring, would suddenly stop rising altogether in 2023 and would remain at $256 billion — the cost for 2022 — the tally for Obamacare's real first decade (2014-23) would be $1.930 trillion.
Put the internet to work for you.
No comments:
Post a Comment