« | »

Obama-Care Subsidies Have Skyrocketed 107%

From Fox News:

The cost of subsidies for those seeking government aid through ObamaCare has increased dramatically, critics say

By Jim Angle | July 08, 2013

The cost of subsidies for those seeking government aid through ObamaCare has increased dramatically, critics say – even before a single dollar has been collected.

Republican Sen. Orrin Hatch of Utah wrote a letter to the administration asking why the president is already requesting 107 percent more than three years ago to pay for subsidies.

"They low-balled everything, and they knew they were not asking for enough money to actually do this," John Goodman of the National Center for Policy Analysis said. "And so now they are coming along saying: ‘Oh, we’ve just discovered we don’t have enough money’.  They should’ve known that from day one."

"I don’t think most of America will be shocked that a government project is coming in over budget," Jim Capretta of the American Enterprise Institute said. "It’s the typical story and so yeah it’s probably happening in this case as well." …

Bear in mind that this 107 percent increase predates the recent revelations that the administration is delaying the employer mandate and it is not going to verify insurance status or income.

Which means Obama-Care is going to lose even more tax revenue since employers will not any pay penalties for at least one year. And employer penalties were planned to be the major source of Obama-Care funding. But this also means many more people will lose their employer provided insurance and will require subsidies, which will also ratchet up the cost of Obama-Care .

On top of this, we now know that the administration is not even going to verify insurance status or the income listed on applications for subsidies. Which will also lower the revenue from penalties and boost the cost of subsidies even more.

Meanwhile, lest we forget the CBO lied in their projections of the cost of Obama-Care in order to get it passed through ‘budget reconciliation.’ (Under budget reconciliation you only need 50 plus one Senate votes. Otherwise, the Democrats would have needed 60 plus one.)

But the rule for budget reconciliation is that the bill must not add to the deficit. Which, of course, Obama-Care has and will, hugely. So perhaps Obama-Care should now be ruled null and void for having been passed under false pretenses.

This article was posted by Steve Gilbert on Tuesday, July 9th, 2013. Comments are currently closed.

2 Responses to “Obama-Care Subsidies Have Skyrocketed 107%”

  1. Mo money!
    Mo Money!
    Mo Money!

    but don’t say that in cursive.

  2. mr_bill

    obamacare subsidies will turn out to be a bigger goldmine than the EIC for “the poor.”


« Front Page | To Top
« | »