The Congressional Budget Office has now accurately scored Obama’s Socialized Healthcare Scam, and the results are not good for the American People!
Obamacare to cost more than double what Obama advertised
Obama and the Democrats definitely played with the numbers when putting together their socialized healthcare plan, which initially the CBO estimated would cost Americans $900 billion over 10 years, when instead, if Obama and the Democrats didn’t lie about the numbers they sent to the CBO, the real estimate would have been the $1.76 trillion that is now. Unfortunately, the CBO has to score the bill with the numbers that the Democrats gave them, which were a complete bogus lie by Obama and the Democrats!
On top of the huge additional costs that Obama and the Democrats hid from the American People, we are also learning that Obama’s Socialized Healthcare Scam will cover 4 million people fewer people than they initially said it would cover, when trying to ram the law down our throats.
We need to stop the Democrat Culture of Corruption, and reverse the damage that Obama and the Democrat’s lies, and ineptness have caused.
President Obama’s national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law.
Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO’s standard ten-year budget window and, at least on paper, meet Obama’s pledge that the legislation would cost “around $900 billion over 10 years.” When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation.
Today, the CBO released new projections from 2013 extending through 2022, and the results are as critics expected: the ten-year cost of the law’s core provisions to expand health insurance coverage has now ballooned to $1.76 trillion. That’s because we now have estimates for Obamacare’s first nine years of full implementation, rather than the mere six when it was signed into law. Only next year will we get a true ten-year cost estimate, if the law isn’t overturned by the Supreme Court or repealed by then. Given that in 2022, the last year available, the gross cost of the coverage expansions are $265 billion, we’re likely looking at about $2 trillion over the first decade, or more than double what Obama advertised.
A new report by the nonpartisan Congressional Budget Office states that by 2016, Obamacare will result in 4 million people fewer people getting health insurance coverage from their employers.
The estimate is a vast increase from the CBO prediction just a year ago that 1 million would no longer obtain coverage from their employers. And it raises substantial questions about the veracity of one of Obama’s key pledges in selling the health care law – that everyone who wants to keep their current health insurance plan and doctor could do it.
It’s not clear how many of the 4 million would be forced out as a result of employers dropping coverage. But it can be assumed that many will indeed lose their insurance and have to seek it elsewhere, since few people would seem likely to intentionally abandon coverage provided by an employer.
And many employers have already indicated that they would rather drop coverage and incur fees from the government than continue to provide it.
According to a survey published last summer by the Towers Watson consulting firm, almost one in ten medium to large size employers said they are likely or very likely to end health benefits for their workers.
During the debate over the health care law, Obama repeatedly and emphatically asserted everyone would be able to keep their current insurance if they wanted, even suggesting those who said otherwise were not telling the truth. Here’s an example.
The CBO also projects that 2 million fewer uninsured will gain insurance under the law than previously thought, with the total uninsured population declining by 30 million instead of 32 million.
While the law increases the number of people with health insurance, it does not provide for universal insurance. Instead, the number of non-elderly legal residents with insurance will rise from 82 percent in 2012 to 93 percent in 2022.
Obamacare Socialized Healthcare Scam Will Cover 4 Million Less People Than Predicted By Obama and the Democrats!
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