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$1.76 Trillion ObamaCare Cost Doubles Down On Failure
Investor's Business Daily ^ | March 14, 2012 | IBD editorials

Posted on 03/14/2012 5:10:28 PM PDT by raptor22

Medical Reform: We had to pass it to find what was in it, we were told. As the lies and consequences of health care reform become known, the Congressional Budget Office reveals its true cost — another lie all unto itself.

ObamaCare was sold in part as a way to rein in health care costs, including insurance premiums, and as a big step toward reducing the deficit. Using an accounting gimmick that would make even a Bernie Madoff blush, 10 years of taxes were counted against six years of "benefits" to produce huge projected savings.

As we noted at the time, the 2014 date for benefits to start flowing was deliberately chosen to mask the full costs and delay the impact until after the 2012 elections. Had the full impact of ObamaCare been added to the administration's war on business and energy, the economy might well have collapsed, and we suspect the White House knew that.

The strategy of hide and delay may have collapsed with a new Congressional Budget Office report that reveals that the current 10-year cost of ObamaCare is an astounding $1.76 trillion. That's nearly double the $900 billion President Obama told a special session of Congress on Sept. 9, 2009, that ObamaCare would cost. He also claimed the "plan will not add to our deficit."

The new projection is from 2013 to 2022, and when 2014 arrives and costs and taxes are in sync, the 10-year cost of ObamaCare is expected to be well in excess of $2 trillion. Fact is, the administration has no clue and never had one concerning how much ObamaCare and its consequences would drive up costs, a fact grudgingly admitted to by Kathleen Sebelius, secretary of Health and Human Services, under questioning by Sen. Ron Johnson, R-Wis.

(Excerpt) Read more at news.investors.com ...


TOPICS: Editorial; Government
KEYWORDS: deficit; healthcare; ibd; obamacare

1 posted on 03/14/2012 5:10:40 PM PDT by raptor22
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To: raptor22

This should be all the GOP is talking about today. Instead we have Miss Lindsay going after Newt, etc. etc. What a bunch of clueless buffoons they are.


2 posted on 03/14/2012 5:13:59 PM PDT by lodi90
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To: raptor22

U N E X P E C T E D


3 posted on 03/14/2012 5:14:03 PM PDT by evad (STOP SPENDING, STOP SPENDING, STOP SPENDING. It's the SPENDING Stupid)
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To: raptor22

Everything conservatives predicted for Obamacare has been accurate. Everything liberals said about it has been lies. Of course, this is true about nearly everything.


4 posted on 03/14/2012 5:16:07 PM PDT by fhayek
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To: raptor22

Every and all friggin question any Republican gets for the next month should be answered with “Obama knowlingly, purposefully,deceifully and unapologetically lied to this country”


5 posted on 03/14/2012 5:20:26 PM PDT by Cyman
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To: Nachum; markomalley; Clairity; Carlucci; grey_whiskers; meyer; WL-law; Para-Ord.45; ...

ObamaCare ping


6 posted on 03/14/2012 5:30:31 PM PDT by raptor22 (Join me on Twitter @gerfingerpoken)
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To: raptor22

A very powerful election issue against Obama but it is totally meaningless if Romney is the nominee.


7 posted on 03/14/2012 5:46:57 PM PDT by jveritas (God bless our brave troops)
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To: raptor22

Thanks


8 posted on 03/14/2012 6:41:58 PM PDT by GOPJ (Democrat-Media Complex - buried stories and distorted facts... freeper 'andrew' Breitbart)
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