Free Markets, Free People


ObamaCare bait and switch: CBO raises 10 year cost to $1.76 trillion

Remember when Nancy Pelosi, Harry Reid, the Democratic Congress and Barack Obama all told us that the cost of ObamaCare would only be $900 billion?  And because of that, Obama said it “saved” us money.  He also said that if it had been more than that, he wouldn’t have signed it.

Well, as the critics rightly pointed out, it was always more than that.  It was just hidden from view, because of the way Democrats structured the law to hide most expenditures for a few years.  That way, the CBO, who was charged with scoring it, would score it below a trillion dollars because the CBO, by law, can only score a law within a 10 year window. 

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 Only next year will we get a true ten-year cost estimate, if the law isn’t overturned by the Supreme Court or repealed by then.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.

“More than double”.  We were flat lied too.  We’re now stuck with another outrageously expensive entitlement program we can’t afford barring repeal or judicial overturn.

And yet, after the most deceitful, least transparent and most abusive legislative process I’ve ever seen used, you’re going to be asked to trust this guy with another 4 years at the helm.

~McQ

Twitter: @McQandO

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13 Responses to ObamaCare bait and switch: CBO raises 10 year cost to $1.76 trillion

  • “…you’re going to be asked to trust this guy with another 4 years at the helm.” Yeah….no. Not gonna do it…wouldn’t be prudent. Anywhere you look, Obama made it worse.

  • The dem answer to this “None of those could be expected a year ago. The old estimates were based on CBO economic projects – as are the new.

    Either the CBO is right, or not. “

  • I wonder if having lied about it will affect the Supreme Court review or if they’ll decide it’s Constitutional to lie about the cost of legislation in order to help pass it.

    • @looker They won’t consider it consciously. But people who think the Supremes decide on erudite points of law in all cases are fooling themselves. They are aware of things, and often clearly back into the legal support for a decision. In this case, ObamaCare has EVERYTHING working against it.

      • @Ragspierre One would think the fact they used economics to justify passing this Charlie Foxtrot and that it would ‘cost less’ that this sudden (which it is not, we knew it all along) cost increase might be a factor. I have a hard time buying that lying about the economics of a bill to pass a bill that is supposed to be justified by economics wouldn’t somewhat reduce the viability of the argument, unless the conclusion they prefer to reach is Congress can do as it pleases, regardless of how they have to deceive the populace to justify it.

        • @looker “unless the conclusion they prefer to reach is Congress can do as it pleases, regardless of how they have to deceive the populace to justify it.”

          Wasn’t that the attitude the democrat congress took through the entire push to passage? They didn’t care if Republicans voted against it, they had enough votes. They didn’t care how many average citizens were calling in against it – they had enough votes and a POTUS who would sign. They weren’t going to miss that opportunity.

        • @Johnny Jones Agreed, now I’m waiting to see if the Supreme Court agrees with Congress’s (and I think both the Democrats and Republicans are guilty of this bit of hubris) lofty opinion of their Constitutional powers when the economic foundation for their legislation was based on openly expressed and quickly demonstrated, financial lies.

        • @looker I wouldn’t bet even odds for SCOTUS to overturn.

          BUT, if they get enough votes to overturn ObamaPelosiCare, I’m thinking they will have to compromise with the swing voter(s) to avoid setting any substantial precedents concerning Congressional powers. I suspect that, as with Heller, opponents will cheer the ruling, while a close observation will see the decision not as a defense of the right not to buy something, but as a guide to how to tweak the law the next time around.

          If they lose the case, Democrats will likely wage a long-term war to achieve the same thing through smaller programs. If a mandated purchase is struck down, they’ll just replace it with a tax and accomplish the same thing.

        • @myweeklycrime Yeah, I have to keep being reminded that when Obama is sitting idle or organizing his sock drawer in Chicago the struggle will still go on for turning us into Europe.

  • AND!!!!! The hits (on the US) keep rolling from the Obama White House and Pelosi/Reid Congress – the new estimate says that WITH Obama care 4 million FEWER will have health insurance provided by their employers. Working brilliantly eh? About as well as the plan to drive the price of gas up at the pump.

    http://www.whitehousedossier.com/2012/03/14/million-covered-work-obamacare/

  • We are so damn screwed

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