Skip to comments.The CBO quietly hikes the price tag on ObamaCare's insurance subsidies by 29%
Posted on 02/06/2013 4:28:23 AM PST by IBD editorial writer
The Congressional Budget Office on Tuesday quietly raised the 10-year cost of ObamaCare's insurance subsidies offered via the health law's exchanges by $233 billion, according to a Congressional Budget Office review of its latest spending forecast.
The CBO's new baseline estimate shows that ObamaCare subsidies offered through the insurance exchanges which are supposed to be up and running by next January will total more than $1 trillion through 2022, up from $814 billion over those same years in its budget forecast made a year ago. That's an increase of nearly 29%. [snip]
The CBO also expects 7 million workers will lose their employer coverage due to ObamaCare, almost twice as many as it had previously said would be dumped. It expects tax penalties on individuals and companies who don't buy insurance to be $36 billion higher from 2014 to 2019 than it originally forecast.
(Excerpt) Read more at news.investors.com ...
Just like the book of Job. First he took his children, then he went after his health.
Wow, love IBD stuff. Glad you’re here!
They knew all of this back in 2009...remember when they were twisting the CBO director’s arm to bend the cost curve further down to get the projected price tag under $1 trillion. All lies that are coming to the fore now.
I second that.
Every couple of days, or weeks, there is a story just like this. The cost estimates for Obamacare provisions are quietly being revised upwards.
I marvel at how valuable the internet and FR are, and how ignorant of all these shenanigans someone would be if they only received their news from the MSM, which refuses to report these stories.
It’s the age-old question: how can you know what you don’t know? How do they know what is not being reported?
Is all this pre-funded like SS and medicare?
Or does it appear in the budgets or CRs?
....da fix be in.
Wait until you add in the illegal aliens that will soon have access..this 29% miss..you can double or triple it..and do not assume you will have the same level of service....it will become like Cuba...if you cut yourself you will get stitched up..if you have a tumor in your head..you will have to part of the elite to get care..
The higher ups in the government hierarchy have become royalty, and they get to look down on the rest of us and say ‘We want all of our subjects to be equal’. Then they pat themselves on the back for promoting social justice, all the while completely above and unfettered by the fray.
Heritage Foundation, Health Care Reform Cost Estimates: What is the Track Record?
It'll get much worse. Government has every incentive to grow their power, lie about costs, and enslave us. In addition, they are inept and grossly incompetent and understanding human behavior and forecasting.
In 1965, as Congress considered legislation to establish a national Medicare program, the House Ways and Means Committee estimated that the hospital insurance portion of the program, Part A, would cost about $9 billion annually by 1990. Actual Part A spending in 1990 was $67 billion.
Would you keep your job if your budget estimates were off by 7X?