Photo: CBS 60 Minutes
The Congressional Budget Office, the bi-partisan number-crunching office that ‘scores’ legislation for the cost has revised its forecasts for the cost of health-care reform. Obamacare is going to cost about double what the president and Democrats promised.
When the bill was passed, President Obama and Nancy Pelosi would cost “around $900 billion over 10 years.”
Looks like it is going to be close to $1.8 trillion.
Phil Klein of the Washington Examiner has the story:
Today, the CBO released new projections from 2013 extending through 2022, and the results are as critics expected: the 10-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. Only next year will we get a true 10-year cost estimate, if the law isn’t overturned by the Supreme Court or repealed by then. Given that in 2022, the last year available, the gross cost of the coverage expansions are $265 billion, we’re likely looking at about $2 trillion over the first decade, or more than double what Obama advertised.
Of course the Supreme Court could make all of these predictions moot in a few weeks.
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