Obamacare will cost $1.76 trillion over the next decade according to a new projection released by the Congressional Budget Office. That is nearly twice the $940 billion it was forecast to cost when it was signed into law.As Conservatives, we knew Obamacare would be a disastrous policy. We knew the costs would be enormous and that it would drive down the quality of care. We saw that it was a threat to freedom with its mandates and rationing boards. We knew it was wrong for America, so we took action and banded together to make sure that Republicans took back the House so they could overturn this disastrous law.
In my first term in Congress, I have been a leader in the fight to overturn Obamacare. I have sponsored legislation that repeals large parts of the healthcare law and teamed up with other lawmakers to repeal the law in its entirety. I have refused the gold-plated taxpayer funded health plan offered to Members of Congress because I know that to bring about change you have to lead by example.
Listen to Ben's radio commercial calling for President Obama and Holder to be held accountable.
Ben is making progress, but President Obama is fighting him every step of the way.
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The Cost of Obamacare Has Gone Down, Not Up
—By Kevin Drum| Thu Mar. 15, 2012 11:41 AM PDT
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Republicans rushed to the microphones today to announce that new projections show that Obamacare will break the bank. In fact, says Fox News, a CBO reports says that it will cost "twice as much as the original $900 billion price tag."
You will be unsurprised to learn that this is not true. As Jon Cohn patiently explains here, the previous CBO report estimated the costs of expanded insurance coverage between 2012-21. The new report covers 2012-22. In other words, the new report includes an extra year compared to the previous one. That's the main reason that costs are higher.
In fact, CBO is quite clear on what an apples-to-apples comparison shows:
The current estimate of the gross costs of the coverage provisions ($1,496 billion through 2021) is about $50 billion higher than last year’s projection; however, the other budgetary effects of those provisions, which partially offset those gross costs, also have increased in CBO and JCT’s estimates (to $413 billion), leading to the small decrease in the net 10-year tally.
As Table 1 shows, if you compare the original 2012-21 time period, CBO's new estimate of the cost of Obamacare is $48 billion less than it was last year. (The report estimates only the cost of expanded insurance coverage under Obamacare, not the entire set of costs and revenues. So the total impact on the deficit hasn't yet been updated.)
Moral of this story: Never believe anything that Republicans say about Obamacare until you check out the source yourself. But you already knew that.
Jerry, READ THIS AND WEEP!
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