Monday, February 17, 2014

CBO: Obamacare’s 10-Year Costs Will Now Eclipse $2 Trillion

The Weekly Standard
February 17, 2014

Remember back when the Democrats tried to sell Obamacare to a skeptical citizenry as health care “reform” that would cost “only” $848 billion—far less than a trillion—over a decade?  Indeed, that was the alleged 10-year gross cost of Obamacare’s coverage provisions, according to the Congressional Budget Office (see Table 3), when Harry Reid, Mark Pryor, Kay Hagan, Mary Landrieu, Al Franken, Mark Udall, Jeanne Shaheen, Mark Begich, Mark Warner, and the rest of the Democrats rammed President Obama’s signature legislation through the Senate on Christmas Eve without a single Republican vote.  That 12-digit price-tag was widely cited by the New York Times and other sympathetic outlets, who treated it as gospel, even as conservatives observed that it was clearly a sham number.
Well, now the CBO is out with a new report on Obamacare’s costs, and—sure enough—its 10-year price-tag now eclipses $2 trillion.  To be more exact, the CBO now projects (see Table B-1) that the 10-year gross cost of Obamacare’s coverage provisions will be a cool $2,004,000,000,000.00. 

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