Estimated Cost of ‘Obamacare’ Is Now $2.6 Trillion — Nearly $1.7 Trillion More Than Obama Promised
- Posted on July 11, 2012 at 10:01pm by
Jason Howerton
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According to the latest estimates, President Obama’s health care law, also known as “Obamacare,” will cost around $2.6 trillion over the next 10 years, nearly $1.7 trillion more than Obama’s initial promise of $900 billion.
The Senate Budget Committee — the Republican side — released the following chart today depicting the rising costs of Obamacare. Notice that the cost estimates have increased with each and every estimate:
They also provided this explanation:
“President Obama promised a joint session of Congress in 2009 to spend $900 billion over ten years on his health care law: ‘Now, add it all up, and the plan that I’m proposing will cost around $900 billion over 10 years.’ Adding up all the different spending provisions in the health care law, however, (including closing the Medicare ‘donut hole,’ implementation costs, and other spending) total gross spending over the FY 2010–19 period is about $1.4 trillion, based on CBO estimates,” the Senate Budget Committee Republican staff explains.
“And most of the major spending provisions in the law do not even take effect until 2014. Congressional Democrats delayed these provisions in order to show only six years of spending under the plan in the original 10-year budget window (from FY2010-19) used by CBO at the time the law was enacted. Therefore, the original estimate concealed the fact that most of the law’s spending only doesn’t even begin until four years into the 10-year window. A Senate Budget Committee analysis (based on CBO estimates and growth rates) finds that that total spending under the law will amount to at least $2.6 trillion over a true 10-year period (from FY2014–23)—not $900 billion, as President Obama originally promised.”
According to The Weekly Standard, the chart was published today to coincide with the House vote to repeal Obamacare. House Republicans with the help of five Democrats voted in favor of repeal the law 244-185.
As the chart explains, “Estimates of the gross outlays under the President’s health care law in nominal dollars using CBO estimates of major coverage provisions, as well as Senate Budget Committee Republican projections based on CBO estimates of the remaining costs.”
(H/T: Drudge)
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Comments (102)
StraightDave
Posted on July 11, 2012 at 11:14pmWhat’s another trillion when the country is going down in flames.
Report Post »lukerw
Posted on July 11, 2012 at 11:48pmI see… if we Surrender to China… our Debt will bcome theirs… then, if we Revolt, we can start over again Debt Free!
Report Post »BryanB
Posted on July 12, 2012 at 12:35am@StraightDave
Maybe if the U.S. Government would just start playing Publishers Clearing House, everything would OK…… Think about it $5,000.00 a week, for Life……..
Report Post »PATTY HENRY
Posted on July 12, 2012 at 1:53amWhen the Dictator wanna-be first began speaking of the Health Care, he spoke of 27 million people who were uninsured and that included the 12-14 Million illegals. Then it got to be 40 Million.
Then he shoved his bill down Congress’s throats with lies and pressure from Piglosi and Reid..paying off people, threatening others. It passed.
Then he began giving waivers to his UNION cronies. Now there are entire States opting out (and more of his Cronies)… I can’t prove it without all the figures, but I would bet that first of all there were only about 2-5 Million who were not properly insured and needed help (pre-existing conditions; really ill; really unable to provide for themselves) that would could have helped by grouping them together.
Report Post »We needed to penalize ins. companies for dropping paid clients and the pre-existing thing; Market across State lines (cut out the State’s Ins. Commissioner’s pay offs); ENFORCE our FRAUD laws and
the problem would not exist. AS IT IS, it seems that we’ll have half of AMERICA uninsured before this is over. LET’S SEE SOME REAL FIGURES ON THAT! THIS horrid president has wrecked every aspect of our Country. Throw the bum out. We can fix our own insurance. HE doesn’t care a hoot and a bean about our being insured!!! THIS IS ALL ABOUT CONTROL and SOCIALISM/COMMUNISM …he is so wrong.
docgreen
Posted on July 12, 2012 at 2:13amDid anyone think this wouldn’t happen? Lies, Lies and more Lies from this Bozo in the Oval office! Quick question, do you think obama figured in the aproximate 8 million more illegal aliens with his amnesty? So we added 40 million to cover people but these extra 8 million weren’t counted! So add another 1/3 to the revised total. Do people not see he’s driving us into debt? And the worse part about it is this. Our Govts. accounting is so off, and they take from this program and give to that one and no one really knows how far were in debt. So saying that debt won’t come in till 2014 is rediculous! Two years from now, what will our deficit be then along with interest? Its like the GOP said your just pushing it down the road. We will not survive as a country like this! Were Doomed! We can’t afford this! Were Slaves once again to our Govt.!
Report Post »docgreen
Posted on July 12, 2012 at 3:16amI sent Blaze this story from WND I read earlier. This will Blow your mind! And people question the cost of obama’s death care?
http://www.wnd.com/2012/07/planned-parenthood-hit-with-5-5-billion-fraud-suit/?cat_orig=health
http://www.wnd.com/2012/07/medicare-paid-188-million-for-penis-pumps/?cat_orig=health
http://www.wnd.com/2012/07/auditors-obama-administration-is-bending-health-law/?cat_orig=health
Anyone see this story below? Remember the Congressman saying we should have schools like Madrassas? You’ll never believe, he’s tied to terror co conspirator! And yes he’s a muslim!
http://www.wnd.com/2012/07/muslim-congressman-tied-to-terror-co-conspirator/?cat_orig=politics
Report Post »lukerw
Posted on July 12, 2012 at 5:36am@DOC…
Human Beings meet a Standard Criteria for looking alike… which has nothing to do with their IQ, Knowledge, Interest, ability to Discern & Focus upon what is Important, or ability to grasp Concepts & perceive Reality.
This is a Dumb A$$ World!
Report Post »historyguy48
Posted on July 12, 2012 at 7:23amComrade Patty Henry. Dear Leader isn’t wrong, he is doing what he was elected to do. He received a “mandate” to bring the glories of Communism to Americans everywhere and that is precisely what he is doing!
Report Post »Oh yes, I forgot, according to his media friends I am a racist because he isn’t a communist.
Did you know that pigs can fly?
nattybrooks
Posted on July 12, 2012 at 7:56am@patty henry
Report Post »i have pre-existing conditions a pile of injuries that have not healed and new ones arising because of the old ones have been un employed for two yrs lost my life saving when both of my buisness’ went under in 09 need to have two surgeries and live in daily pain. i have not filed for govco unemployment have not taken foodstamps or medicade think affordable care act is for weak backed soft handed pink skinned commies and further do not believe it is anyones problem except mine and would rather die than expect the american people to bail me out i’ll keep being a man and a fighting former marine and with grace die free
turkey13
Posted on July 12, 2012 at 10:43am“If you think Health Care is expensive now, wait until you see what it cost when it’s free.”- P J O’rourk
Back when Bush was president all we heard was the billions he was spending – now all we here is trillions.
Report Post »G-WHIZ
Posted on July 12, 2012 at 12:00pmIsn’ it geat! King-O’ must be thrilling down his leg with a country crashing several times faster than even he could immagine!!
Report Post »AvengerK
Posted on July 12, 2012 at 2:19pmyes but the answer to all our problems is to tax the rich and make sure they do their “fair share”…then we can pay for Obamacare, student loans, artists and musicians and fairy dust forevermore, no matter the rising cost. I mean..the rich guys are hording that money, that’s what Media Matters and MSNBC tells me..it’s lying somewhere in Bermuda or Switzerland..waiting…slumbering..untaxed…never to be touched by “the middle class and the poor”. Ooooohh…how conspiratorial.
Report Post »There’s money for everyone…just tax away brothers and sisters. Happy days are here again. Bust open the bubbly. Fair share..fair share..that’ll fix everything…it’s a veritable panacea.
txdave22
Posted on July 14, 2012 at 10:42pmSo, pubs never do their homework, consult with experts. It‘s why gw bush didn’t get bin laded and why pubs are wrong on Obamacare now————————————WHO KNOWS MORE ABOUT AMERICA’S HEALTH CARE SYSTEM THAN THE DOCTORS,
AND HERE IS WHAT THE AMA SAYS……………….TOTALLY DIFFERENT FROM THE PUBS!!!
The American Medical Association has long supported health insurance coverage for all, and we are pleased that this decision means millions of Americans can look forward to the coverage they need to get healthy and stay healthy.
“The AMA remains committed to working on behalf of America‘s physicians and patients to ensure the law continues to be implemented in ways that support and incentivize better health outcomes and improve the nation’s health care system.
“This decision protects important improvements, such as ending coverage denials due to pre-existing conditions and lifetime caps on insurance, and allowing the 2.5 million young adults up to age 26 who gained coverage under the law to stay on their parents’ health insurance policies.
The expanded health care coverage upheld by the Supreme Court will allow patients to see their doctors earlier
*********************rather than waiting for treatment until they are sicker and care is more expensive.
The decision upholds funding for important research on the effectiveness of drugs and treatments and
****************protects expanded coverage for prevention and wellness care, wh
Report Post »seeker9
Posted on July 11, 2012 at 11:11pmI am so surprised! Surprised that it’s not worse. Now the demo-marxists can start doing some real redistribution. They believe that the only wealth in this country should be in the hands of the ruling elite and this law will allow them to do just that.
Report Post »MCDAVE
Posted on July 11, 2012 at 11:35pmexactly right….no self respecting politician can get along without their multimillion dollar estates private planes and luxurious vacations….They can buy it all cheap because they destroyed the economy…everything is on sale, if money runs short, the fed just prints more…And the politicians get their share for selling us out.
Report Post »MCDAVE
Posted on July 11, 2012 at 11:08pmObama has achieved his objective…he has thrown the wealth of the nation away, taken our constitutional rights away…betrayed all of our friends and allies..Created a pending disaster with his foreign policy..destroyed our currency…Weakened our military and our security…But he did played a lot of Golf and went on some first class vacations…….
Report Post »lukerw
Posted on July 11, 2012 at 11:07pmSURPRISE: Democrats are too Stupid to be able to do Math!
Report Post »barber2
Posted on July 11, 2012 at 11:12pmThe Democrats view the taxpayer’s funds as a bottomless pit of distribution funds….to reward their friends and to buy votes….
Report Post »BehindBlueEyes
Posted on July 12, 2012 at 6:33am@BARBER2
Report Post »You got it right its all about buying votes and staying in power. The progressives are running a money laundering scheme and the commie in chief subscribes to the Cloward and Piven method to complete his fundamental transformation of America (the dawn of communist America).
mbriz
Posted on July 11, 2012 at 10:53pmOh sure, the republicans are the place to go for an honest assessment, what a joke.
Report Post »bees
Posted on July 12, 2012 at 12:53amprobably true. But to be honest the democrats THROW money at social programs without considering the cost. Some one HAS to be the adult in the room.
Report Post »HawgRazor
Posted on July 12, 2012 at 3:09amYeah…….but Romney has a Swiss Bank Account!!!! Does anyone else see the kindergarden playground theme in Blowmamma’a campaign attacks? It’s like Enron calling the Boy Scouts thieves!
Report Post »MCDAVE
Posted on July 11, 2012 at 10:49pmAll the Democrats are salivating like Dogs…dreaming of their giant new tax slush fund to steal from…..It will be as successful as the government run Mortgage Co’s Freddie And Fannie…They get to steal billions…If you think the mortgage collapse was bad,Get ready for Obamacare…Our country cannot survive this..
Report Post »barber2
Posted on July 11, 2012 at 11:10pmAgree. First it was the Discrimination Card Housing Loan Economic explosion. The final bomb will be the Heath Care Cost Tsunami . Destroy the capitalist system . That is their goal.
Report Post »MCDAVE
Posted on July 11, 2012 at 11:40pmBARBER And all the Dumb@sses who voted for socialism will wake up one morning to discover that they are now slaves….And the government will kill them if they don’t work.
Report Post »Mutiny
Posted on July 11, 2012 at 10:47pmNow that is out of the way, can we nominate a guy that doesnt want to “repeal and replace” Obamacare which in 2009 he praised Obama for using?
Report Post »Individualism
Posted on July 11, 2012 at 10:44pmHow much will war in Iran Syria and any of the other enemies of Israel and Saudi Arabia cost? Iraq and Afghanistan were a fortune.
Report Post »Justagrunt
Posted on July 12, 2012 at 12:07pmThe war was cheap, the rebuilding afterwards is expensive. So sorry I demolished your hovel, here’s ten grand to buy more rocks.
Report Post »notforreal
Posted on July 11, 2012 at 10:41pmLying is the new norm with this bunch. They figure, ‘why not’?- they’re fools, so just keep lying cause it‘s working’….
Report Post »barber2
Posted on July 11, 2012 at 11:07pmThey have control of most of the media so it’s easy to lie…
Report Post »MBA
Posted on July 11, 2012 at 10:39pmnow there’s a surprise–Not! anyone who knows anything about finance knows this is more government b*llsh*t that cannot be managed. Come to think of it, you don’t need to know finance to know this government cannot run a country much less health care.
Report Post »auntypam
Posted on July 12, 2012 at 7:53amWhat thegovernment needs is a wake-up call. If I have to live witin my meas and so do you, then they should too! I propose a mandatory committee of randomly selected citizens from all walks of life to review the budget with the ability to line-item veto anythng inthe budget. We can get government back to being fisaly sound but only if non-politicos have te authority to approve/veto every single expenditure. Politicians won’t do it, so it must be up to the citizenry.
Report Post »MCDAVE
Posted on July 11, 2012 at 10:39pmMost of the money will be stolen, wasted, misappropriated, mismanaged or simply disappear ,Heath care will be rationed until its becomes unattainable… all the while the politicians will raise the taxes even higher complaining the program is starved for funds…… sort of like social security..Obamacare is about taxes not health care
Report Post »commonsenseguy
Posted on July 11, 2012 at 10:54pmdon’t forget that all of the jobs will be union,just like europe’s healthcare system and look at where they are,waiting for treatment and only getting what they are allowed because so bureaucrat says that they are only worth so much,or they can’t get any help because the unions decide to strike,want it be great,
Report Post »MCDAVE
Posted on July 11, 2012 at 11:52pmBetter eat right and get exercise…there will be no health care…and just like the UK they will decide how long the elderly get to live if they are sick…As much as Obama seems to like killing the unborn..killing the old will be no problem for him either…
Report Post »Rayford
Posted on July 12, 2012 at 2:56amMC Dave, exactly. what happened to oblammys grandma when she was going to spill the beans on him? I think he barely took a minute out of his campaign to grieve the woman that raised his sorry self.
The old and other people deemed “not worthy” will be left to pass. So yes, eat healthy, fire your doctor, throw away your meds. You CAN fix your ailments naturally. take the time to learn how.
Report Post »dmerwin
Posted on July 11, 2012 at 10:39pmIn the words of that great American Philosopher Gomer Pyle. “Surprise, surprise, surprise.” Does the democrat party or their members of congress and the senate have ANY credibility? Oh, …rhetorical question.
Report Post »notforreal
Posted on July 11, 2012 at 10:38pmIf only people paid attention, and used their brains a little better, we wouldn’t be in this mess right now.
Report Post »commonsenseguy
Posted on July 11, 2012 at 10:50pmso true, sad,but so true.to bad most of them don’t know they have a brain,they just do as they are told or taught, when they figure out they got screwed,they will start to gripe but it will be to late,so they will just go back to letting the government tell them what they need to do and how to do it.
Report Post »RJJinGadsden
Posted on July 11, 2012 at 10:36pmFrom here the costs will only rise exponentially. Just like any of these new programs that the government shoves down our throats. This one will likely be the straw that breaks the camel’s back.
Report Post »commonsenseguy
Posted on July 11, 2012 at 10:25pmjust one of many lies this administration has told, so is anyone really surprised, to bad we are stuck with it,just maybe all of the lying politicians and left wing groups who help shove this bill through can come up with the over drawn, but we all know it will be us the peons.
Report Post »BryanB
Posted on July 11, 2012 at 10:23pm“According to the latest estimates, President Obama’s health care law, also known as “Obamacare,” will cost around $2.6 trillion over the next 10 years, nearly $1.7 trillion more than Obama’s initial promise of $900 billion”
Thats ok….President Obama will just write a Check for it.
Doesn’t everyone remember all that Obama Money………..:)
Report Post »Darmok and Jalad at Tanagra
Posted on July 11, 2012 at 10:20pmEverytime it’s evaluated it gets worse……but Nancy made the GAO go back and reevaluate 6 times until it was just under a trillion dollars? So the Dems LIED????????? I guess America didn’t really just send its life savings to a Nigerian King, and we aren’t getting rich either.
What ever you do, don’t close your eyes and open your mouth for a big surprise.
Report Post »commonsenseguy
Posted on July 11, 2012 at 10:28pmbut it is free, how can it cost any thing, it’s free !! i can’t wait until all of these nut jobs who wanted this commie bill finally figures out that they have to pay a penalty { TAX } for their { FREE } healthcare. then maybe they will wake up and figure out that they got screwed.
Report Post »zoro51
Posted on July 11, 2012 at 10:19pmum MARXISM FAILS PERIOD IMPEACH OBAMA
Report Post »ObserverOnTheHill
Posted on July 11, 2012 at 10:19pmYes, but the illegals can now have healthcare so we should all celebrate. As the Titanic sunk, the band played on.
Report Post »barber2
Posted on July 11, 2012 at 10:16pmAh. A trillion here . A trillion there. Doesn’t matter to a Far Left Democrat ! Takes a bunch of spending to ruin this capitalist system……just like Ayers , Obama, and the anti-capitlist OWS crowd desire….
Report Post »Prosecute_Constitutional_Treason_In_Washington
Posted on July 11, 2012 at 10:16pmDeath will be a relief from all the slavery on earth.
Report Post »Want our country back
Posted on July 11, 2012 at 10:24pm2.6 T R I L L I O N
Do the math, this was intended to cover 30 million uninsured (ILLEGALS) makes it how much per person? Even in the world of obama math, I think that’s a lot of money. It reminds me of the trillion spend on stimulus that created 6 jobs…. how is that per job?
Report Post »barber2
Posted on July 11, 2012 at 11:05pmWANT: Maybe Obama was really creating jobs for millionaires ! ? This guy is amazing. Maybe he figured he could then get more tax money from those evil rich guys he’s always criticizing for nit doing their share. Go figure.
Report Post »Al J Zira
Posted on July 12, 2012 at 4:27am@Want Our Country Back: Check my math here but dividing $2.6T by 30 million people comes out to about $866,667 by my calculations. Not bad. I think that would make my health care affordable for me and my entire family. Oh wait, I’m not entitled to the government money. I have to provide my own healthcare or get arrested by the IRS. Great to be an American.
Report Post »Detroit paperboy
Posted on July 11, 2012 at 10:11pmWho cares its only monopoly money…………
Report Post »Psychosis
Posted on July 11, 2012 at 10:09pmcolor me surprised
he LIED again
and so did ALL the DEMOCRATS
Report Post »Prosecute_Constitutional_Treason_In_Washington
Posted on July 11, 2012 at 10:08pmObummer agenda has never been healthcare. Following communist Saul Alinsky the Obummer plan has been to bankrupt America and rebuilt into a marxist state.
Report Post »barber2
Posted on July 11, 2012 at 10:18pmAgree. Old Saul and his mentor, Lucifer ! They are all part of the same “army”……
Report Post »cassandra
Posted on July 11, 2012 at 10:08pmdon’t forget the cost of our FREEDOMS the invasion of the IRS in our lives, bureaucrates deciding what kind of treatment I receive not the doctor
Report Post »Tractorboy
Posted on July 11, 2012 at 10:52pm@Cassandra,That stuff is all secondary to what the goverment really wanted. They wanted control of at least 10% of the US economy. This has been on their To-Do checklist for a long long time.
Report Post »GhostOfJefferson
Posted on July 11, 2012 at 11:12pmSo don’t comply. Don’t consent. Withdraw from the system and starve the beast.
Report Post »