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CBO: Healthcare bill exceeds $1 trillion

Harry Guerrilla

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TheHill.com - CBO: Healthcare bill exceeds $1 trillion

The Congressional Budget Office (CBO) released a report late Monday estimating the cost of a leading healthcare reform proposal at more than $1 trillion, but that figure looked only at a portion of the bill.

The analysis falls just within the most expensive cost scenario sketched out by Democratic leaders in recent days, but does not include an estimate for a highly contentious government-run insurance plan that would compete with private insurers.

But CBO officials warned the cost of the Democratic plan would likely increase if lawmakers expanded the eligibility of Medicaid or otherwise subsidized health insurance for people earning below 150 percent of the federal poverty level, or $22,000 for a family of four.

Henry Aaron, a senior fellow at the Brookings Institution, said the estimated expense will make it that much tougher for Democrats to pass.

“I think they’re setting themselves up for a hellacious summer of negotiations,” Aaron said in an interview shortly before CBO released its report. “They’re trying to find ways to pay for a bill that makes a major dent in the ranks of the uninsured [and that] is going to require some combination of tax increases and spending cuts — nearly all of which are political mine fields.”

The 10-year cost of reform could approach $2 trillion if the projections are made from the date that proposals are fully implemented. While the projected cost for a new system may reach $1.5 trillion for 2010-2019, it could run significantly higher for 2013-2022, as healthcare costs rise steadily each year.

Its going to cost more than what law makers are saying.

Discuss.
 
Hope Republicans can gut it or delay it.
Hope many Democrats will oppose it.
Hope American tell the Obama we're not going to let you spend anymore.


IMO ObamaCare will die as HillaryCare did because Americans are not Soviets.
 
Of course it is. When has the government ever delievered something under budget? It happens, but rarely. No surprise here, especially since they are saying that they are going to be cheaper than the private sector. It would be nice if we can charge politicians for fraud for giving us a price that they know is far too low.
 
I would honestly be open to the idea of government-provided healthcare if the government reduced the national debt to a number with less than 14 digits....
 
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The number I saw recently was 1.6 trillion, which is just not doable right now, maybe ever. If these estimates are right, I will end up having to oppose the plan.
 
OF COURSE the Messiah and his cronies in the House are lying about costs, they lie about everything.

All they really want is to get the frog in the pan of cool water. Later on the frog will be too stupid to know the water is boiling, and won't jump out.
 
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