Skip to comments.Why the Supreme Court Decision on Obamacare May Dramatically Increase the Deficit
Posted on 06/28/2012 11:53:02 AM PDT by Free ThinkerNY
An unappreciated point about todays Supreme Court ruling is that it will have significant consequences for the federal deficit. It all comes out of the Courts opinion that states have the ability to opt out of Obamacares expansion of Medicaid. Paradoxically, this decision by the Court could lead to dramatically higher government health-care spending. Heres why.
The Affordable Care Act, as passed, expanded Medicaid to cover all adults below 138 percent of the federal poverty level (100 percent of FPL is $23,050 for a family of four). In addition, the law created state-based exchanges, which sell subsidized private insurance, for people between 100 and 400 percent of the federal poverty level. Roughly half of the laws coverage expansion17 million, according to the Congressional Budget Officecomes from Medicaid, and the other half16 millioncomes from the exchanges and other instruments.
(Excerpt) Read more at forbes.com ...
The point has been well recognized and is the primary reason business has not been hiring, even in though they’re banking profits.
New Employees become open ended liabilities.
Really?? ... I thought you could definitely cover 30+ million more people for free ... </sarc>
“May?!?!” Was there ever any doubt, even among all of us NON “elites?”
But.. but.. the CBO promised it’d cut the deficits.
I guess we were just... misled.
This report is very funny. As if Obamacare had any fiscal trajectory other than plunging 16,000 feet to a hard landing to begin with.
“Why?” Higher spending and lower revenues, that’s why. What do I win?