Oops Obamacare estimate go up by 29% according to CBO and it hasnt even started.

Discussion in 'Politics & Religion' started by Max E. Pad, Feb 7, 2013.

  1. Everyone with a brain knew that this was coming, imagine there was actually people on the left on this very site who were making the claim that obamacare was going to reduce the deficit.

    Twice as many people as originally estimated will also lose their healthcare plan thanks to obamacare and the democrats.


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    Obamacare Exchange Costs Up 29% Before Program Even Starts!
    Nick Gillespie|Feb. 6, 2013 12:37 pm

    One of the big features of the Affordable Care Act (a.k.a. health-care reform or Obamacare) is the creation of exchanges where people can buy subsidized insurance plans if they don't qualify via the workplace. There's a raft of implementation issues as states try to figure out whether they want to set up their own exchanges or go along with federal ones. Here's something that only makes 2014, the year Obamacare fully comes online, even more dread-worthy: The estimated cost of subsidizing plans through Obamacare's exchanges has grown from $3,970 in 2010 to $5,510. Here's John Merline of Investors Business:

    The CBO's new baseline estimate shows that ObamaCare subsidies offered through the insurance exchanges — which are supposed to be up and running by next January — will total more than $1 trillion through 2022, up from $814 billion over those same years in its budget forecast made a year ago.

    That's an increase of nearly 29%...

    Last year, the CBO said the average exchange subsidy for those getting federal help when ObamaCare goes into effect next year would be $4,780. Its latest estimate raised that to $5,510 — a 15% increase. All these numbers are up even more from the CBO's original forecast made in 2010, which had the first-year subsidy average at $3,970.

    The CBO also expects 7 million workers will lose their employer coverage due to ObamaCare, almost twice as many as it had previously said would be dumped. It expects tax penalties on individuals and companies who don't buy insurance to be $36 billion higher from 2014 to 2019 than it originally forecast.


    Merline notes that the Congressional Budget Office (CBO) expects that Medicaid costs to come down more than before, so it estimates that total spending on Obamacare will stay around the same. Read the whole thing here.

    Yet given the track record of major health-care entitlements - which almost always cost much more than anticipated - we should all expect Obamacare's costs to spiral upwards.

    Merline also points readers to this recent survey of insurers in five cities by the American Action Forum. The good news is that if you're unhealthy and/or old, your premiums will likely go down by about 22 percent on average. The bad news is for younger and healthier folks on individual or small-employer plans: You premiums will increase by 169 percent on average.

    Back in 2010, Reason TV offered "3 Reasons Health-Care Reform Won't Cut the Deficit by One Thin Dime." Watch it now below and read the text here.

    <iframe width="640" height="360" src="http://www.youtube.com/embed/Un505mz35dY?feature=player_embedded" frameborder="0" allowfullscreen></iframe>
     
  2. Lucrum

    Lucrum

    So..where are all those Obama sheeple who drank the kool-aid and actually believed Obama care was going to save money?

    Given our governments fiscal history how could anyone be that fucking gullible?
     
  3. I'm sure the uber-shill will chime in any minute with another F5 hotkeyed list of quotes...
     
  4. Mav88

    Mav88

    If you believed an expansion of government health care would be more efficient, you'll believe just about anything.
     
  5. jem

    jem

    exactly...

    can you believe the dead weight they are going to bring in over time.
     
  6. Major Networks Ignore News of Increased Costs of ObamaCare

    For two nights in a row, NBC, ABC, and CBS have ignored a story that would damage the liberal narrative they are helping the White House to push. Two days ago, the Congressional Budget Office reported that it has revised its projections of the cost of ObamaCare’s insurance subsidies. The CBO now estimates that the subsidies, which are to be offered through exchanges beginning in 2014, will cost 29 percent more than the CBO initially projected in 2010. The projected 10-year cost has increased by $233 billion.

    In addition, the report estimates that 7 million workers will lose their employer-sponsored health insurance due to ObamaCare, almost twice as many as the CBO previously estimated. Monetary penalties on those who don’t buy insurance are now expected to be $36 billion higher from 2014 to 2019 than was originally thought.


    Ominous news, to be sure. But the three major networks could not be bothered to mention it at all on the Tuesday or Wednesday editions of their evening news programs. NBC Nightly News had more important things to discuss, like Chris Christie’s weight, the new Monopoly game piece, and the 2014 Winter Olympics, which are still a year away, but will be telecast on the networks of NBC Universal. Of course, they also found time to talk about the continuing effort to coerce the Boy Scouts into accepting gay members.

    ABC World News also covered Chris Christie’s weight, the new Monopoly piece, and the crusade to allow openly-gay Boy Scouts and scout leaders. In addition, they found time for an update on Barbara Walters’ recovery from chicken pox and a story on the youngest female billionaire in the U.S. (she owns In-N-Out Burger).

    Why let the image of ObamaCare, hailed in the media as the president’s crowning achievement, be tarnished with critical news about its negative consequences?



    Read more: http://newsbusters.org/blogs/paul-b...-news-increased-costs-obamacare#ixzz2KJsTyGkT