CBO: Obamacare to cost $1.76 trillion over 10 yrs(double Obama's esitmate)

reply to post by jibeho


The big red flag: They phased it in over a period of a few years in order to hide the

true cost.

BTW, it doesn't matter.

ObamaCare will be flushed in June 2012.

Originally posted by jibeho
reply to post by Indigo5

 

I'll just have to agree to disagree with you and with a Forbes columnist. I've tried to read the CBO report and it would seem that one would need to have a masters in forensic accounting to decipher it.

The report uses straight forward language..

“CBO and JCT now estimate that the insurance coverage provisions of the ACA will have a net cost of just under $1.1 trillion over the 2012–2021 period—about $50 billion less than the agencies’ March 2011 estimate for that 10-year period.

www.cbo.gov/sites/default/files/cbofiles/attachments/03-13-Coverage%20Estimates.pdf

Forbes debunked this claim thoroughly....you can check Forbes, or any of dozens of other sources right, left and non-partisan...anyplace that understands math/accounting and prioritizes truth over spin. Or you simply read the actual CBO report that the far right molested to create this false claim.

reply to post by Indigo5


I've read through it and here's what I get out of it when the rubber hits the road after 2020. Annual gross costs after 2021 are more than a quarter of $1 trillion every year until the end. How's that for certainty. I'll believe the savings when I see it. Our govt. is incapable of saving any money within the agencies that they run.

We still have to get through the constitutionality of this mess. It won't hold up anyway. Plus the people don't want it. Arguments begin Monday.

www.washingtonpost.com...

Originally posted by jibeho
reply to post by Indigo5

 

I've read through it and here's what I get out of it when the rubber hits the road after 2020. Annual gross costs after 2021 are more than a quarter of $1 trillion every year until the end. How's that for certainty. I'll believe the savings when I see it. Our govt. is incapable of saving any money within the agencies that they run.

We still have to get through the constitutionality of this mess. It won't hold up anyway. Plus the people don't want it. Arguments begin Monday.

www.washingtonpost.com...

They - force- Americans to buy health insurance.

That's how they pay for this monstrosity. When the SCOTUS rules that unconstitutional

then there will be no way to pay for this liberal pipe dream.

Originally posted by jibeho

We still have to get through the constitutionality of this mess. It won't hold up anyway.

You have much more faith in the SCOTUS than I do... Personally I think it’s a toss-up what they will rule.

I do hope you are a right though…

IMO - They will consider not only the legality of it but the impact their repeal would have on the state of the union - meaning will there be civil unrest if it is nullified. They won’t write on it or debate it in open session but in private they will consider it.

Also, if I recall I think there was no severability clause put into the bill which means if one part is ruled unconstitutional the whole bill is and since the gov't has already spent money on it will it be in the best interest of the nation to keep it.

I wish they would rule only on law like they are supposed to but their track record isn't good on that.

Originally posted by jibeho

Plus the people don't want it. Arguments begin Monday.

www.washingtonpost.com...

The people never did want it - if I recall correctly there was never more than 50% on any poll in favor of it. Yet that didn't stop the dems from ramming it through.

Of all the things the SCOTUS will consider in addition to the law - I highly doubt they give one crap what the public thinks... Just like the men who appointed them.

Is this all we got now?
Dang, I miss the the
"Obama's a Black Panther, white baby eating, Muslim"
threads so much now.

Sorry that last part I wrote was too rude. So I edited it out myself.
I apologize. Sincerely. I don't agree with any of y'alls political views
but I do and should respect them.

I just read an email from my Congressman, Todd Akin (R-MO). He has been opposed to Obamacare since day one. Now it's 2 years old and he shared some facts that ought to wake you up, if you think this is an awesome program. Consider that costs can include jobs. You may not want to here what a Republican has to say, but you should pay attention to the Congressional Budget Office (CBO). Here's an excerpt:

Democrat Leader Nancy Pelosi claimed the law would “almost immediately” create 400,000 jobs. It didn’t.
The Congressional Budget Office has concluded that the President’s health care law will reduce the labor supply by 800,000 because of the law’s perverse incentives, which according to CBO “will effectively increase marginal tax rates,” thereby discouraging work. Other estimates are as high as 670,000 lost job opportunities per year.

President Obama claimed the legislation would make care more affordable and “lower … premiums by $2,500 per family per year.” It does not.

Since Inauguration Day 2009, premiums have risen by $2,213. The annual Kaiser Foundation survey of employer-provided insurance found that average family premiums totaled $12,860 in 2008, $13,375 in 2009, $13,770 in 2010, and $15,073 in 2011.

CBO projects that the law’s new benefit mandates will force premiums to rise in the individual market by$2,100 per family. The increase is because people will be forced to buy more comprehensive coverage, which will encourage them to consume more health care.

According to President Obama, under his health care law, “If you like your doctor, you will be able to keep your doctor. Period. If you like your health care plan, you will be able to keep your health care plan. Period. No one will take it away. No matter what.” You can’t.

The Administration’s own estimatesreveal that the new law and its regulations will force most firms – and up to 80 percent of small businesses – to give up their current plans, subjecting them to costly new mandates that will increase premiums
.
By 2016, CBO predicts 4 million more Americans will lose the health insurance they have through their employer than what CBO predicted last year. This will force hardworking Americans to purchase government-mandated health insurance in government-run exchanges or pay a penalty

Democrats already cut $575 billion from Medicare and accelerated its path toward imminent bankruptcy to cover the health care law’s full cost..


There is virtually no way that Medicare can still guarantee the services of your doctor and your plan with more than half a trillion dollars in budget cuts. Those cuts come mainly from provider and plan reimbursements. To further enforce the targets that Democrats set for Medicare’s cost growth, they created a new government control panel known as the Independent Payment Advisory Board (IPAB) which will be comprised of 15 unelected, unaccountable people hand-picked by the president whose sole job it will be to cut funding for Medicare medical services .

What part of this can anyone like?
The bolds are mine as they speak directly to the subject of this thread. I put the last line in italics as we see how this IPAB is intentionally making cuts in Medicare medical services to pay for the cost of Obama#Care.

edited to add:

House Republicans resurrected the ... 223-181 vote Thursday to repeal the Independent Payment Advisory
Board

www.philly.com...

reply to post by sad_eyed_lady


Top Shelf info there !!

Could it be that the Dems knew all along ?

Perhaps their hidden agenda is to let ObamaCare keep defaulting.

Then they might be able to create a socialized system later because of "cost" over runs.

I bet they have it all figured out.

They will use the insurance companies to endorse all citizens
(probably State by State, to get around the "nationwide" dilemma)

Medicare prescriptions are covered by private companies that collect the co-pays,
and then the Feds pay off the balance.

Medco is the largest provider.