More Bad News for Obama: Congressional Budget Office Now Says it Underestimated the Cost of ObamaCare by $1 TRILLION
Unlike Obama’s approval index, the cost of ObamaCare just keeps going up!
“After the director of the CBO testified on July 16 that none of the health-reform bills in the House or Senate would reduce the rate of increase in federal spending on health care, congressional efforts fell into disarray. Many policymakers began searching for a way to get costs below the CBO’s frightening estimate of $1.1 trillion over ten years.”
“The CBO is actually being kind to the would-be reformers. Its analysis likely understates—by at least $1 trillion—the true costs of expanding health coverage as current Democratic legislation contemplates.”
“The Democratic plans envision a government-run insurance program, modeled after Medicare, that will compete with private insurers. How many people would opt for coverage under this public insurance? We believe that both large and small employers would have powerful incentives to shift their employees out of private coverage and into the public plan.”
There’s more on this subject at Politico.
and Hot Air.
