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CBO: Obama-Care Will Cost $2 Trillion Dollars

From the Washington Examiner:

How much does Obamacare actually cost?

By Philip Klein | APRIL 7, 2014

… How much does Obamacare actually cost?… [T]he Congressional Budget Office estimated this February that the cost would be slightly more than $2 trillion.

Isn’t it peculiar how our media guardians have avoided reporting on the cost of Obama-Care?

It’s important to keep in mind that there are several categories that have been generally cited as representing the cost of Obamacare: the gross cost, the net cost and the deficit effect.

When CBO analysts most recently looked at the gross cost of expanding Medicaid and giving subsidies to individuals to purchase insurance through the new exchanges — the bulk of the law’s spending — they came up with slightly more than $2 trillion for 2015 through 2024.

After deducting some offsets from the law — such as penalty payments from employers and individuals due to insurance mandates — CBO estimated the net cost at nearly $1.5 trillion.

So we are supposed to believe that the government is going to collect $500 billion dollars over the next ten years in penalties from people and employers for not buying health insurance? $50 billion a year? Who believes that?

The CBO hasn’t done a standalone deficit analysis on Obamacare since 2012, but at that time, its analysts estimated the law would reduce deficits by $109 billion, once all tax increases, cuts to Medicare and other savings are taken into account…

Obama-Care is going to reduce the deficit by $109 billion? When it is expanding Medicaid by 4.5 million people? When 83% of the people who are enrolled in Obama-Care are getting a taxpayer subsidy?

To summarize, I think the fairest formulation on this matter is to say that expanding insurance coverage through Obamacare will cost $2 trillion over the next decade, according to the CBO, which is more than offset by a combination of tax increases and cuts to projected spending (with most cuts coming from Medicare)…

Again, we say ‘huh?’ How will the tax increases and spending cuts (even including the $700 billion stolen from Medicare) come anywhere close to covering the 4.5 million new people on Medicaid and the 84% of of the 7 million Obama-Care enrollees who are getting taxpayers subsidies?

Maybe this article needs to go back to ‘re-write.’

This article was posted by Steve on Wednesday, April 9th, 2014. Comments are currently closed.

2 Responses to “CBO: Obama-Care Will Cost $2 Trillion Dollars”

  1. captstubby says:

    “Who believes that?”

    preventive stupidity.

    “. . . but by the exercise of doublethink he also satisfies himself that reality is not violated . . . To tell deliberate lies while genuinely believing in them, to forget any fact that has become inconvenient, and then, when it becomes necessary, to draw it back from oblivion for just so long as it is needed, to deny the existence of objective reality and all the while to take account of the reality which one denies – all this is indispensably necessary. Even in using the word doublethink it is necessary to exercise doublethink.”
    The Theory and Practice of Oligarchical Collectivism, by Emmanuel Goldstein, is the fictional book and plot element integral to the dystopian novel Nineteen Eighty-Four (1949), by George Orwell.

    the class pyramid in Nineteen Eighty-Four;
    top ; Big Brother.
    next is 2% Inner Party.
    12% are Outer Party.
    and the bottom 85% of population are the Proles.

    “The Proles usually are not subject to propaganda. Instead, it is the middle class – the Outer Party – that the Inner Party fears. Because the Proles have lost everything and have nothing, they have no future. The Party, through the Ministry of Truth, practices historical revisionism, which robs the Proles of a past, too. Robbed of the ability to learn from history and the worries of the future, the Proles exist in state of constant present and are incapable of revolution. In order to prevent any unorthodoxy, the Ministry of Truth uses Newspeak, a impoverished language that makes heresy impossible by omitting words that could express it.
    Newspeak also reduces thought to simple opposites, such as good and “ungood”, an intentional dichotomy that hides nuance and ambiguity while promoting black and white thinking.
    Party members are further subject to self-deceptive habits of mind, such as crimestop (“preventive stupidity”), which halts thinking at the threshold of politically dangerous thought, and doublethink, which allows simultaneously holding and believing contradictory thoughts without noticing the contradiction.”
    Orwell: The Road to Airstrip One
    Ian Slater

    “In their torture chamber conversations, he,(O’Brien, a high-level member of the Inner Party,)
    tells Winston that The Theory and Practice of Oligarchical Collectivism, “the book” by Emmanuel Goldstein, was written by a committee that included him. When Winston asks O’Brien if “the book” is true, he replies: “As description, yes. The programme it sets forth … is nonsense”.

  2. Mithrandir says:

    The news must be annotated by Conservatives, to have any real meaning to it.

    Every time I am interested in a news subject, I check here to see what and if Steve and the Gang have to say about it. The numbers just don’t add up do they?

    Everyone knows Obamacare is already a financial disaster, and there is no way anyone has any real guts to fix any of it (especially since they never read the bill anyway, which shows what political animals democrats are. They never read the bill, but bills are about winning votes and spiking balls, not actual governing). Democrats have to put issues on a scale, and weigh it with the cost of hurting their re-election campaigns. –that’s all that really matters to them.

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