Stunning figure comes from Congressional
Budget Office report that revised cost estimates for the next 10 years
Government will spend $1.993 TRILLION over
a decade and take in $643 BILLION in new taxes, penalties and fees related to
Obamacare
The $1.35 trillion net cost will result in
‘between 24 million and 27 million’ fewer Americans being uninsured – a $50,000
price tag per person at best
The law will still leave ‘between 29 million and 31 million’ nonelderly
Americans without medical insurance
Numbers assume Obamacare insurance exchange enrollment will double
between now and 2025
(Daily Mail) – It will cost the federal
government – taxpayers, that is – $50,000 for every person who gets health
insurance under the Obamacare law, the Congressional Budget Office revealed on
Monday.
The number comes from figures buried in a
15-page section of the nonpartisan organization’s new ten-year budget outlook.
The best-case scenario described by the CBO
would result in ’between 24 million and 27 million’ fewer Americans being
uninsured in 2025, compared to the year before the Affordable Care Act took
effect.
Pulling that off will cost Uncle Sam about
$1.35 trillion – or $50,000 per head.
PROMISES: Obama pledged in 2009 during a
speech before a joint session of Congress that his health insurance proposal
would cost $900 billion over ten years – a far cry short of current numbers
The numbers are daunting: It will take $1.993
trillion, a number that looks like $1,993,000,000,000, to provide insurance
subsidies to poor and middle-class Americans, and to pay for a massive
expansion of Medicaid and CHIP (Children’s Health Insurance Program) costs.
Offsetting that massive outlay will be $643
billion in new taxes, penalties and fees related to the Obamacare law.
That revenue includes quickly escalating
penalties – or ‘taxes,’ as the U.S. Supreme Court described them – on people
who resist Washington’s command to buy medical insurance.
It also includes income from a controversial
medical device tax, which some Republicans predict will be eliminated in the
next two years.
If they’re right, Obamacare’s per-person cost
would be even higher.
President Barack Obama pledged to
members of Congress in 2009, as his signature insurance overhaul law was being
hotly debated, that ‘the plan I’m proposing will cost around $900 billion over
10 years.’
It would be a significant discount if the
White House could return to that number today.
PRICEY: The federal government will spend
$50,000 for each person recruited to buy insurance or enroll in free Medicaid
through the Obamacare exchanges In that same speech, Obama claimed that there
were ‘more than 30 million American citizens who cannot get coverage.’ $900
billion spent on those people would equate to no more than $30,000 each – less
than two-thirds of what the CBO now says the program will cost when the dust
settles. The CBO and the Joint Committee on Taxation, a group of members from
both houses of Congress, prepared Monday’s report on the overall direction of
the federal budget. They estimated that ‘the net costs of the coverage
provisions of the ACA [Affordable Care Act] will rise sharply as the effects of
the act phase in from 2015 through 2017.’ Those costs will ‘rise steadily
through 2022′ before leveling off for three years, the groups’ economists
determined. But even at that point, the Obamacare program will cost the
government ‘about $145 billion’ each year. That number doesn’t include the
insurance premiums and out-of-pocket health care costs paid by Americans – only
the government’s role in implementing the law and paying for its guarantees.
And the law will still leave ‘between 29 million and 31 million’ nonelderly
Americans without medical insurance, says the CBO.
http://www.teaparty.org/bombsehll-report-obamacare-pricetag-comes-50000-per-person-79652/
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