The democrats where so excited when the CBO's estimated the savings over ten years will be $130 billion because of the new health care reform bill. There is a big "but". The CBO also estimates, according to Barack Obama's budget, the United States National debt will rise $9.8 Trillion dollars in the same period. Thus, Obama is going to spending $9.8 Trillion more money than the government earns from tax revenues. How? By borrowing and printing money to cover the shortfall. This will raise the National Debt from 2010 levels of $12.5 trillion to $22 Trillion - or a debt held by the average family of four of $293,326.00. Image Credit: DeficitAid.com
Obamacare - The Law: CBO re-projects to over $1 TRILLION in expenses
This week the Congressional Budget Office, formed and mandated to provide objective and impartial economic analysis assistance to the House of Representatives and the Senate, readjusted the estimate of spending ordered through the recent passage of the Health Care Reform Bill into law ... Obamacare. Discretionary spending could add another $115 billion-plus to the 10-year cost of health-care overhaul. Since there are only 300
million people living and under control of this Obamacare law to pay for this additional spending, this translates to a projected cost to every man, woman, and child to $383.33 each.
Do the math ... which should have been done before our leaders voted this Government Control Agenda known as Obamacare into law ... for every family of four ( a mother, father and two rug-rats), this translates to a family bill to come due at some time of an additional $1,533!
Where is the accountability? Where is the real social justice in a process that intentionally hides the truth of a projected action until it becomes the law of the land so it becomes almost impossible to undue such a corrosive act to living a life in freedom?
In a letter to Rep. Jerry Lewis, the CBO estimated that administrative costs for implementing the legislation will total between $10 billion and $20 billion. Various grants and programs ranging from the small ($45 million for young women's breast-health awareness) to the big ($39 billion for Indian health programs), will add up to about $105 billion. The CBO couldn’t provide an estimate for another group of grants and programs whose funding levels weren’t specified by the bill, it said.
The A.P. notes that the costs weren’t included in earlier CBO estimates because the funds are considered discretionary, to be approved by Congress as needed.
Spending is spending and this discretionary spending is spending that can not be decided upon by the individual but decided upon by a Government worker from money that the Government will collect from each of us in fees and taxes. This collected money that one earns will not be spent by the individual as he or she sees fit for their needs, but spent by the Government as they see fit and without specific and open approval of the people who pay for this spending.
This excerpted and edited from ABC News -
CBO: Health Care Bill Will Cost $115 Billion More Than Previously Assessed
Jake Tapper, Political Punch - ABC News | May 12, 2010 9:08 AM
The director of the Congressional Budget Office said Tuesday that the health care reform legislation would cost, over the next ten years, $115 billion more than previously thought, bringing the total cost to more than $1 trillion.
CBO had originally estimated that the health care reform bill would result in a net reduction in federal deficits of $143 billion from 2010-2019; this revised number would eliminate most of that savings.
In a statement, House Minority Leader John Boehner, R-Ohio, said that the new CBO analysis "provides ample cause for alarm. This comes just weeks after the Obama administration itself released an analysis confirming that the new law actually increases Americans’ health care costs. The American people wanted one thing above all from health care reform: lower costs, which Washington Democrats promised, but they did not deliver. These revelations widen the serious credibility gap President Obama is facing."
And this excerpted and edited from the New American -
ObamaCare Already Exceeds Projections
Written by Michael Tennant, New American - Wednesday, 12 May 2010 10:16
Benjamin Franklin famously said that the only two certainties in life are death and taxes. It’s time to add another certainty to that list: Any government program will end up costing far more than estimated at its inception.
Medicare is probably the most famous illustration of this truism. In an outstanding article entitled “The Medicare Monster” in the January 1993 issue of Reason, Steven Hayward and Erik Peterson wrote:
At its start, in 1966, Medicare cost $3 billion. The House Ways and Means Committee estimated that Medicare would cost only about $12 billion by 1990 (a figure that included an allowance for inflation). This was a supposedly “conservative” estimate. But in 1990 Medicare actually cost $107 billion.
Reports the Associated Press: “President Barack Obama's new health care law could potentially add at least $115 billion more to government health care spending over the next 10 years, congressional budget referees said Tuesday.” According to the Congressional Budget Office, these costs were not included in earlier estimates for two reasons: (1) because they result from discretionary spending that Congress may or may not approve (though when was the last time Congress refused to fund anything, let alone something as sensitive as healthcare?); and (2) because the legislation was rushed through Congress so quickly that the CBO didn’t have enough time to calculate the costs fully before passage.
Thus, just seven weeks after Obama signed his healthcare “reform” bill into law, it is already likely to cost 12 percent more than projected. You don’t have to be Nostradamus to foresee actual costs dwarfing the $1 trillion estimate long before the next decade is out.
The additional cost also wipes out nearly all of Obama’s alleged deficit reduction, which was supposed to be $143 billion over the next 10 years. (This claim of deficit reduction in itself barely resembles truth: The Obama bill assumes that future healthcare spending will explode and that the new bill will merely reduce the future exploding costs by $143 billion.) Of course, the administration claims it won’t allow this to happen, saying that “Obama would demand that added spending be offset with cuts in other domestic programs,” according to the AP. Don’t hold your breath.
Congress generally dismissed fears of cost overruns. Rep. Claude Pepper (D-Fla.) said: “The cost will not be greater than our present efficient [sic] and wasteful fee-for-service system. According to experts the charge to the average family under a national health-insurance program will actually be less than it pays now, partly because the employer and government will contribute to the fund.”
Here’s one more certainty to tack on to Franklin’s maxim: In Washington, the more things change — even when it’s “change we can believe in” — the more they stay the same.
Right now, early in Carter's Second Term, it is time to begin the actions to reduce the influence and size of our current Government and we start in November by voting for anyone who wishes to put forth the effort to REPEL OBAMACARE!
There, right there ... is over $1 TRILLION in expenses that can be cut which translates to a family-of-four savings of $13,333 - it's just a start against the nearly $300,000 this Government expects to take from each family of four over the next decade.