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CBO: Cost of Obamacare Subsidy Will Increase 8-Fold in 10 Years

So the CBO has finally caught up to what everyone who's taken High School Economics 101 already knows: Anytime the Government gets involved, costs invariably always go up exponentially.

15 posted on 09/15/2014 8:30:10 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))

The cost of the Obamacare subsidy that the U.S. Treasury will pay on behalf of people who earn under 400 percent of the federal poverty level and who buy a government-approved health-care plan on a government-run health-insurance exchange will increase by approximately 8-fold in its first ten years of operation, according to the latest budget estimate from the Congressional Budget Office.

But that is not all

Medicaid spending will double in the first ten years of full implementation of Obamacare, according to the CBO estimates. By 2024, the last year in the CBO estimates, Medicaid spending will climb to $570 billion.