CBO: Obamacare Will Cost Over $2 Trillion by 2014

The costs of Obamacare continue to go up and up and up and the bill continues to insure fewer and fewer people.

We have got to rescind this foolish and very costly legislation.

"Actuary says that the percentage of the gross domestic product spent on health care would also rise in relation to current law, increasing from 17 percent today to 21 percent in 2019. And, as the CBO reports in its latest scoring, as of 2019 there would still be 23 million people in America lacking health insurance."

To control costs, people should be given several standard policies to chose from, and they should be allowed to purchase these policies across state lines. Omamacare includes none of these cost saving measures because the Affordable Care Act was written exclusively for Nancy Pelosi by her friends with the health insurance lobbies.

Article follows.

The CBO’s most recent analysis is out, and it’s not likely to convince wavering House Democrats to jump to the Obamacare side of the fence. Even the Democrats are granting that the latest version of their proposed health care overhaul would cost $69 billion more than the previous version. According to the CBO, this version would siphon even more money out of Medicare, make even further cuts to Medicare Advantage, and levy even higher taxes and fines on the American people.


President Obama, Speaker Pelosi, and their allies, are cheerfully citing “ten year” costs of $940,000,000,000.00 — apparently believing this to be a far more palatable figure than $1 trillion. But even this colossal tally is like the introductory price quoted by a cell phone provider. It’s the price before you pay for minutes, fees, and overcharges — and before the price balloons after the introductory offer expires.

For a variety of reasons, this tally doesn’t remotely reflect the bill’s real ten-year costs. First, it includes 2010 as the initial year. As most people are well aware, 2010 has now been underway for some time. Therefore, the CBO would normally count 2011 as the first year of its analysis, just as it counted 2010 as the first year when analyzing the initial House health bill in the middle of 2009. But under strict instructions from Democratic leaders, and over strong objections from Republicans, the CBO dutifully scored 2010 as the first year of the latest version of Obamacare. If the clock were started in 2011, the first full year that the bill could possibly be in effect, the CBO says that the bill’s ten-year costs would be $1.2 trillion.

But even that wouldn’t come close to reflecting the bill’s true costs. The CBO projects that over the next four years, less than two percent of the bill’s alleged “ten year” costs would hit: just $17 billion of the $940 billion in costs that the Democrats are claiming. In fact, the costs through President Obama’s entire presidency, should he be reelected, would be $336 billion. What would the president leave behind for his successor? According to the CBO, he would leave behind costs of $837 billion during his successor’s first term alone. If his successor were to serve a second term, he or she would inherit a cool $2.0 trillion in Obamacare costs — about six times its costs during Obama’s own tenure. This legislation is a ticking time-bomb.

To see the bill’s true first-decade costs, we need to start the clock when the costs would actually start in any meaningful way: in 2014. The CBO says that Obamacare would cost $2.0 trillion in the bill’s real first decade (from 2014 to 2023) — and much more in the decades to come.

But $2.0 trillion wouldn’t be the total ten-year costs. Instead, that would merely be the “gross cost of coverage provisions.” Based on earlier incarnations of the proposed overhaul, the total costs would be about a third higher (the exact number can’t be gleaned from the CBO’s analysis, which is only preliminary and is not a full scoring) — making the total price-tag between $2.5 and $3 trillion over the bill’s real first decade.

How would we pay for all of this? According to the CBO, by diverting $1.1 trillion away from already barely-solvent Medicare and spending it on Obamacare, and by increasing taxes on the American people by over $1 trillion. Among the Medicare cuts would be cuts of $25,000 in Medicare Advantage benefits per enrollee — up from $21,000 in the previous scoring. To be clear, those living in South Florida wouldn’t have to worry about this, as the newly politicized nature of health care would cause them to be exempted. These cuts would affect only less-fortunate seniors, namely those living in just about any other part of the country.


We’d also pay for this through increased deficits. Under strict instructions from the Democrats, the CBO gave Obamacare credit for over $400 billion (from 2014 to 2023) in phony “savings” that would allegedly result from cutting doctor’s payments under Medicare by over 20 percent and never raising them back up. As the CBO notes, one of two things could happen: Congress could either follow through on these severe pay cuts — in which case doctors would view all Medicare patients as if they have the plague — or, Congress could eliminate these pay cuts — as everyone in Washington expects to have happen under the so-called “doc fix” — in which case the CBO projects that this bill would raise deficits by over $100 billion from 2017 to 2019 alone.

So, after racking up higher deficit spending in two years than President Bush (or any other president) did in two terms, President Obama would leave his successor a 12-figure deficit related to Obamacare alone — for the period from 2017 to 2019 alone. That’s according to the CBO.

And what would we get for all of this? The CBO says that health insurance premiums would rise by 10 to 13 percent in the individual market, in relation to current law. The Medicare Chief Actuary says that the percentage of the gross domestic product spent on health care would also rise in relation to current law, increasing from 17 percent today to 21 percent in 2019. And, as the CBO reports in its latest scoring, as of 2019 there would still be 23 million people in America lacking health insurance.

When the House votes on Obamacare, probably this weekend, it will do the following: Most likely all in one motion, it will vote on whether to pass the Senate bill — or, more likely, on whether to “deem” it passed — and on additional language. Should the House pass the Senate bill, it would be enacted the second that it went to the president and his pen touched the page. At that point, the “Cornhusker Kickback,” the “Louisiana Purchase,” “Gator Aid,” and all the rest, would become the law of the land. The additional language would be passed on to the Senate. The new CBO score is for the whole ball of wax — for the Senate bill, which would immediately become law, plus the new language, which wouldn’t. Clear as mud?

Meanwhile, President Obama is continuing to meet with wavering House Democrats, offering them rides on Air Force One and almost unimaginable combinations of other incentives and disincentives. Members of Congress report that, when they sit across from him in close quarters at his invitation, he says to them, “Help me make history.” In Jerry Maguire, the character played by Cuba Gooding Jr. famously says, “Help me help you.” For Obama, it’s “Help me help me.

The latest CBO score should help wavering Democrats to resist the president’s plea and listen anew to the pleas of their constituents. Two trillion dollars is a lot to spend on something that Americans don’t want.

 

I don't care and many low income and lower middle class affected by the law don't care how its paid for that is the governments problem but even if the numbers are right find a way to pay for it. Cut waste, stop overseas major conflicts, cut your salaries as leaders by 20% and your staff costs by 20%, take away your frills and the like, tax something just find the money. That is the governments job as long as I get my health care I don't care.

As for doctors shortages my state and others are not going to expand Medicaid or do an exchange, the Federal government will then provide one and under that doctors and hospitals for the very bottom people will get 98.8% of their money paid from the insurance and subsidy for the out of pocket costs far over Medicaid. So why wouldn't doctors and nurse practitioners come here over states that have Medicaid when they can ,even if writing off the patiants share, will get over 40% more money. You know this is true and will assure states like Florida get more providers and a stronger network for the poor Medicaid would not rival.

 

The worst part... most of the costs will be paid by the young and elderly and those making under $120K a year.

Thanks for the screw job Democrats... I am thankfully over the $120K mark.

 

You are correct, HB Surfer.

With this foolish legislation, Democrats are not the friends of the working class.

They should have allowed people to purchase insurance across state lines and they should have offered a menu of policies for people to choose from rather that only one expensive, comprehensive unpopular policy for everyone!

 

I used to be obsessed about this, too... then, it suddenly occured to me three days ago while I was digesting the ashes of our burned up Constitution that it simply doesn't matter any more! It doesn't matter if Obamacare costs two trillon dollars. It doesn't matter if Obamacare costs four trillion dollars. Ben "Bailout" Bernanke will simply have the Fed "print" however many trillions we need to keep on kicking that fictional can down the road -- for another six months... or another six years... or forever more. Don't worry about it. (*)(*)(*)(*) it! Nobody in any position of real power cares about it, and neither should the rest of us....

A bloodless revolution has been achieved without firing a shot, by old-money, Insider RINO's and "useful idiot" neo-Progressives. Conservatives have effectively been shut out of government, just as marginalized as the American Nazi Party. Give it up now and get on the gravy train! Whatever the government is giving away to anyone who says they can't pay, including healthcare -- make sure you sprint up to the front of the line and get yours! If you continue to work your ass off and pay taxes, play by the rules, etc., YOU WILL BE SCREWED, and you will have done it to yourself! Instead, be smart, roll over, and "learn to love Big Brother". If not, you'll continue to fight both the big-money RINO's and the swelling ranks of parasites and Democrat Socialists. Be smart and look out for yourself!

If nothing else remember this: about half the population now pays no taxes at all, but they qualify for a huge menu of welfare programs. Why should you be the only poor, humiliated, despised schumuck who gets forced to pay for everything? Wake up!

 

Sadly, you may be are correct. What it meant to be an American is now lost on over half the populace it appears... we will receive confirmation in November. If it is true; I would have to agree with you. I too will pull the rip cord on doing "what is right"... because the country and the residents are no longer concerned with earning your own way, contributing, and taking care of others. I will maximize my tax reductions in major ways. I have the capability. I will take advantage of each and every government loophole program that I can. I will no longer give to the charities that get over 10% of my income today and for the last two decades.

But, I remain an optimist. I think the people of the United States are not going to reward the parasitic Liberal failed ideology. They are going to toss out Barack Obama and enough senators to take away the anti-Constitutional Democratic Party majority. The TEA Party will take another big win as it did in 2008.

I have my fingers crossed and it looks good. The final nail will be Mitt Romney destroying Barack Obama in the debates.

 

I think you're giving up way too easily. We can vote these stupid chumps out and wipe their Obamacare off the books. I agree about how the RINOs and the Liberals have worked together against this country for many years and that is why I can never be a big cheerleader for Romney. But I WILL vote for the RINO bastard if only to get rid of the Marxist-Socialist bastard whos in there now. I would rather have a stomach ache than stomach cancer.

 

That is what must happen or the nation is in complete jeopardy. The Liberals and Neo-Cons have spent this nation into a hole which we will not be able to recover from without inflating the dollar into oblivion. We must get these parasites out of power now... or it's over.

 

Lol... from a post you made almost a year ago?

No wonder you didn't bother to include the link as per the rules.

http://www.politicalforum.com/polit...cbo-obamacare-would-cost-over-2-trillion.html

And the article it's based on is from 2010...

 

I'll just move some of the more pertinent posts from that thread to this one.

 

Hey, guess what else will? The Drug War.

Which one is more likely to have some impact?

 

I would like to cite the article but I do not see a link??

 

Unfortunately, these comments are very true, Pollycy.



"Whatever the government is giving away to anyone who says they can't pay, including healthcare -- make sure you sprint up to the front of the line and get yours! If you continue to work your ass off and pay taxes, play by the rules and do the right thing, YOU WILL BE SCREWED, and you will have unwittingly done it to yourself! Instead, be smart, roll over, and "learn to love Big Brother". If not, you'll continue to fight the swelling ranks of parasites and the growing numbers of democratic socialists. ... Be smart and look out for yourself!"

 

Once again, you are mistaken, VW.

The facts and costs were true then and the facts and costs are just as accurate today.

Nice try but no cigar!

 

I agree that there may be not much that we can do to save what's left of America. We're Romans now. But whatever you do, don't become a dependent -- the system will probably collapse within a generation, and you don't want to be around the parasites when the host dies. I think the best answer is to reduce your footprint as much as possible and get as self sufficient as possible and do what you can to prepare for the collapse of American Rome. Prepare for the riots when the welfare checks no longer buy bread, and when thousands of people are hungry and have no means to buy food or get shelter. Imagine thousands of crackheads who can no longer afford their drugs as well. Most major cities will be on fire, and it won't be safe to live there. Be country.

But I hope that maybe people will start to get it soon. I just don't want the false hope of saying that a people who are content to spend a full third of their year -- every year -- as a government slave are going to demand freedom. Having massa feed and clothe you is easier than freedom.

 

http://www.humanevents.com/2012/06/...n-backs-of-those-making-less-than-120k-a-year

Get ready to suck it, Joe Lunch Pail. Obama is coming to take you down.

 

CBO: Obamacare Will Cost Over $2 Trillion by 2014

can someone please itemize that for me, what is gonna cost what?

 

This review may help. It contains much more detail. Did you see the CNN report tonight? Most of the health care spending occurs in the inner cities like Trenton, New Jersey. Fareed Zakaria of CNN reported tonight that 7 percent of the population consumes 50% of our national heath care costs and most of these people are indigent and poor and use hospital emergency rooms as their primary health care provider.

Fareed Zakaria: How to fix U.S. health care.

http://globalpublicsquare.blogs.cnn.com/2012/03/17/zakaria-how-to-fix-u-s-health-care/

Article follows.

The CBO’s most recent analysis is out, and it’s not likely to convince wavering House Democrats to jump to the Obamacare side of the fence. Even the Democrats are granting that the latest version of their proposed health care overhaul would cost $69 billion more than the previous version. According to the CBO, this version would siphon even more money out of Medicare, make even further cuts to Medicare Advantage, and levy even higher taxes and fines on the American people.

President Obama, Speaker Pelosi, and their allies, are cheerfully citing “ten year” costs of $940,000,000,000.00 — apparently believing this to be a far more palatable figure than $1 trillion. But even this colossal tally is like the introductory price quoted by a cell phone provider. It’s the price before you pay for minutes, fees, and overcharges — and before the price balloons after the introductory offer expires.

For a variety of reasons, this tally doesn’t remotely reflect the bill’s real ten-year costs. First, it includes 2010 as the initial year. As most people are well aware, 2010 has now been underway for some time. Therefore, the CBO would normally count 2011 as the first year of its analysis, just as it counted 2010 as the first year when analyzing the initial House health bill in the middle of 2009. But under strict instructions from Democratic leaders, and over strong objections from Republicans, the CBO dutifully scored 2010 as the first year of the latest version of Obamacare. If the clock were started in 2011, the first full year that the bill could possibly be in effect, the CBO says that the bill’s ten-year costs would be $1.2 trillion.

But even that wouldn’t come close to reflecting the bill’s true costs. The CBO projects that over the next four years, less than two percent of the bill’s alleged “ten year” costs would hit: just $17 billion of the $940 billion in costs that the Democrats are claiming. In fact, the costs through President Obama’s entire presidency, should he be reelected, would be $336 billion. What would the president leave behind for his successor? According to the CBO, he would leave behind costs of $837 billion during his successor’s first term alone. If his successor were to serve a second term, he or she would inherit a cool $2.0 trillion in Obamacare costs — about six times its costs during Obama’s own tenure. This legislation is a ticking time-bomb.

To see the bill’s true first-decade costs, we need to start the clock when the costs would actually start in any meaningful way: in 2014. The CBO says that Obamacare would cost $2.0 trillion in the bill’s real first decade (from 2014 to 2023) — and much more in the decades to come.

But $2.0 trillion wouldn’t be the total ten-year costs. Instead, that would merely be the “gross cost of coverage provisions.” Based on earlier incarnations of the proposed overhaul, the total costs would be about a third higher (the exact number can’t be gleaned from the CBO’s analysis, which is only preliminary and is not a full scoring) — making the total price-tag between $2.5 and $3 trillion over the bill’s real first decade.

How would we pay for all of this? According to the CBO, by diverting $1.1 trillion away from already barely-solvent Medicare and spending it on Obamacare, and by increasing taxes on the American people by over $1 trillion. Among the Medicare cuts would be cuts of $25,000 in Medicare Advantage benefits per enrollee — up from $21,000 in the previous scoring. To be clear, those living in South Florida wouldn’t have to worry about this, as the newly politicized nature of health care would cause them to be exempted. These cuts would affect only less-fortunate seniors, namely those living in just about any other part of the country.

We’d also pay for this through increased deficits. Under strict instructions from the Democrats, the CBO gave Obamacare credit for over $400 billion (from 2014 to 2023) in phony “savings” that would allegedly result from cutting doctor’s payments under Medicare by over 20 percent and never raising them back up. As the CBO notes, one of two things could happen: Congress could either follow through on these severe pay cuts — in which case doctors would view all Medicare patients as if they have the plague — or, Congress could eliminate these pay cuts — as everyone in Washington expects to have happen under the so-called “doc fix” — in which case the CBO projects that this bill would raise deficits by over $100 billion from 2017 to 2019 alone.

So, after racking up higher deficit spending in two years than President Bush (or any other president) did in two terms, President Obama would leave his successor a 12-figure deficit related to Obamacare alone — for the period from 2017 to 2019 alone. That’s according to the CBO.

And what would we get for all of this? The CBO says that health insurance premiums would rise by 10 to 13 percent in the individual market, in relation to current law. The Medicare Chief Actuary says that the percentage of the gross domestic product spent on health care would also rise in relation to current law, increasing from 17 percent today to 21 percent in 2019. And, as the CBO reports in its latest scoring, as of 2019 there would still be 23 million people in America lacking health insurance.

When the House votes on Obamacare, probably this weekend, it will do the following: Most likely all in one motion, it will vote on whether to pass the Senate bill — or, more likely, on whether to “deem” it passed — and on additional language. Should the House pass the Senate bill, it would be enacted the second that it went to the president and his pen touched the page. At that point, the “Cornhusker Kickback,” the “Louisiana Purchase,” “Gator Aid,” and all the rest, would become the law of the land. The additional language would be passed on to the Senate. The new CBO score is for the whole ball of wax — for the Senate bill, which would immediately become law, plus the new language, which wouldn’t. Clear as mud?

Meanwhile, President Obama is continuing to meet with wavering House Democrats, offering them rides on Air Force One and almost unimaginable combinations of other incentives and disincentives. Members of Congress report that, when they sit across from him in close quarters at his invitation, he says to them, “Help me make history.” In Jerry Maguire, the character played by Cuba Gooding Jr. famously says, “Help me help you.” For Obama, it’s “Help me help me.

The latest CBO score should help wavering Democrats to resist the president’s plea and listen anew to the pleas of their constituents. Two trillion dollars is a lot to spend on something that Americans don’t want.

http://www.weeklystandard.com/print/blogs/cbo-obamacare-would-cost-over-2-trillion?page=2

 

http://washingtonexaminer.com/article/1175831
Obama said his legislation would cost "around $900 billion over ten years" when he was pushing for passage of the law.
The non partisan CBO has taken a look at the figures and now say it's more likely that over ten years the "Affordable" Care Act will cost nearly $2 trillion dollars, or nearly twice as much as Obama promised.
All the details are included in the link. Who are you going to believe: The guy that is still tapdancing around the fact that his bill is calling for massive tax increases? Or the non partisan Congressional Budget Office?
The "brilliant" Harvard lawyer and Alinsky disciple Obama is up to his neck in quick sand. It will be entertaining to watch him sink from view.

 

As predicted.... the Middle class and low income will shoulder this anchor around America's neck forced upon us by the Democratic Party and Barack Obama.

 

This country wasn't setup to take care of you.

Like a bunch of little children screaming their heads off until somebody gives them a teet.

How effing pathetic.

 

I've hated RINO's since they first took over power under Daddy Bush (the first one). That lead to me wasting two consecutive votes for Ross Perot, and that only perpetuated the RINO/Socialist agenda. So what the hell are we supposed to do now? Vote for Ron Paul? Would the third wasted vote in one lifetime be "the charm"? I honestly do believe I've seen the living, breathing truth of the thing, and now I almost wish I hadn't. First these lousy bastards took over the economy, now they've destroyed the Constitution. What's left? And what if Romney does defeat Obama -- how exactly is that going to make any detectable difference? IT WON'T! So long as we care, so long as we struggle, we are doomed to be treated like fools and disregarded accordingly.

I keep reflecting on what must have been going through the minds of the Confederate soldiers as they advanced in Pickett's Charge across that huge field against certain death by Union rifles and cannon at Gettysburg. "Discretion is the better part of valor"... especially when you are opposed by a treasonous coalition of RINO scum and ruthless Socialist internationalists who hate the United States. Take the money and run!

 

Yeah well. This is such a diehard issue for the lefties that they will likely resort to executive privelage if they have to, or at least they would gain propaganda-wise until the Repubs are defeated in Congress. So the Supreme Court struck a compromise spearheaded by the Republican judge where gov't forces you to buy insurance which is good for you whether you can afford it or not, and if you don't you get fined. And if you don't appreciate the status-quo then vote for Romney in November. Compromise or not, the Dems probably see this as a first step in their quest to buy votes by expanding the program and the Repubs used it to send a message that gov't should focus in taking care of only basic things like building roads and running schools, and helping arms industry-complex secure advantageous arms deals abroad, rather than telling a Joe-Shmow how to run his own life. So much at stake.

 

21 new taxes enumerated by ObamaCare and most of them will strangle the middle class and lower classes.

 

I'm considering a move to Costa Rica. Sure it doesn't have all of the conveniences of America, but a lot of American doctors are setting up clinics and hospitals there. And hey. It's warm and I like the food. Besides, I can play online poker without worrying whether some idiot pinhead in Washington thinks I should.