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CBO: Obamacare to cost $1.76 Trillion over 10 years

Amazed said:
Then don't pretend you can rebut the OP....fact is The Bamster and his chorts lied about the cost.....lied about anyone but THEM reducing Medicare Benefits....and pretty much everything else.
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I did rebut the OP and showed exactly how it misrepresented the numbers from the CBO. Nice try again.
 
Redress said:
If you are talking about the real world 10 years from now, you are making projections, which assume a set of circumstances.
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Clearly you have no idea what you are talking about. The first ten years of Obamacare is partly paid for by reducing Medicare costs by ~$500 billion. Of that ~$500 billion in reductions, ~$250 billion is through ending the doc fix. Since the bill was passed, Congress has voted to extend the doc fix twice (2011 and 2012). That means ~$50 billion (or 10%) of the original Medicare "savings" has not materialized as mandated by the law.

So, I ask you again - why are you so confident that ANY cost savings will actually materialize given that the doc fix was suppose to be the easy part?
 
CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what they

Can't make this **** up, but we told you so.

CBO: Obamacare to cost $1.76 trillion over 10 yrs


President Obama's national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law.
Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO's standard ten-year budget window and, at least on paper, meet Obama's pledge that the legislation would cost "around $900 billion over 10 years." When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation.
Today, the CBO released new projections from 2013 extending through 2022, and the results are as critics expected: the ten-year cost of the law's core provisions to expand health insurance coverage has now ballooned to $1.76 trillion. That's because we now have estimates for Obamacare's first nine years of full implementation, rather than the mere six when it was signed into law. Only next year will we get a true ten-year cost estimate, if the law isn't overturned by the Supreme Court or repealed by then. Given that in 2022, the last year available, the gross cost of the coverage expansions are $265 billion, we're likely looking at about $2 trillion over the first decade, or more than double what Obama advertised.
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And you know what, its gonna cost more than this. Obamacare is such a boondoggle. Right up there with Social Security and Medicare, all the pet projects of dumb-ass liberal Presidents with the support of equally dumb-ass liberal Congresses. We can not afford the free ride libs.
 
ZIRP4EVA said:
Clearly you have no idea what you are talking about. The first ten years of Obamacare is partly paid for by reducing Medicare costs by ~$500 billion. Of that ~$500 billion in reductions, ~$250 billion is through ending the doc fix. Since the bill was passed, Congress has voted to extend the doc fix twice (2011 and 2012). That means ~$50 billion (or 10%) of the original Medicare "savings" has not materialized as mandated by the law.

So, I ask you again - why are you so confident that ANY cost savings will actually materialize given that the doc fix was suppose to be the easy part?
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If you have projections with different sets of assumptions, feel free to link to them. If you don't have them, your objection is meaningless and we have to use the projections we have.
 
Redress said:
Beltway Confidential continues to be the most dishonest political site around.



So it is 1.762 T before you figure in offset cost reductions.
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ah yes. this would include the $500 Bn in "savings from Medicare". ? :)

Never, ever trust the Beltway Confidential. They never use the truth when a lie will suffice.
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and you think that the doc fix will not get passed... again? just as it has every year? You think that Democrats will be willing to effectively end Medicare for large swaths of our senior citizenry by fixing it so that no provider can afford to see them?

what a fascinating theory - do you have any evidence to support it?





cause..... if not.......


straws.jpg
 
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ZIRP4EVA said:
Clearly you have no idea what you are talking about. The first ten years of Obamacare is partly paid for by reducing Medicare costs by ~$500 billion. Of that ~$500 billion in reductions, ~$250 billion is through ending the doc fix. Since the bill was passed, Congress has voted to extend the doc fix twice (2011 and 2012). That means ~$50 billion (or 10%) of the original Medicare "savings" has not materialized as mandated by the law.

So, I ask you again - why are you so confident that ANY cost savings will actually materialize given that the doc fix was suppose to be the easy part?
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precisely. the "savings from Medicare" lasted almost two weeks. and then the Democrats passed the Doc Fix. Because they have no intention of pushing 1/4 of providers out of Medicare - they just need to pretend like they will every year or so in order to make budget numbers dance.

look, I can do it too:


"I can afford a house whose monthly payment is 45% of my take-home pay, because next month I'm going to stop eating, and that money will offsett the extra cost"


hooray! I have saved money! :D
 
Best part - even this estimate is only nine years of implementation. Next year the 10-year sticker price is going to be higher - closer to two trillion.
 
cpwill said:
ah yes. this would include the $500 Bn in "savings from Medicare". ? :)



and you think that the doc fix will not get passed... again? just as it has every year? You think that Democrats will be willing to effectively end Medicare for large swaths of our senior citizenry by fixing it so that no provider can afford to see them?

what a fascinating theory - do you have any evidence to support it?





cause..... if not.......
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Hey CP, actually look at what Beltway Confidential "reported", and what the document says. They lied about the document. They compared net to gross. Isn't that fascinating? Keep spinning things, you still got lied to, still passed that lie along, and no amount of spinning will change that. And the sad part is pretty much every time you link to a Beltway Confidential source, the story is proven to be a lie, yet you keep trying to use them since they are saying what you want to hear.
 
Redress said:
Hey CP, actually look at what Beltway Confidential "reported", and what the document says. They lied about the document. They compared net to gross
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no, they didn't. they listed the cost. you insist that they should have counted "offsetting" mythical cuts which everybody agrees are not actually going to happen, and accuse them of dishonesty because they simply gave the price of the program. not only are you left with only ad sourcinem, you aren't even left with a good ad sourcinem.
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

And now for the non-wingnut view, i.e. the truth of the matter:

Insurance coverage provisions in the healthcare reform law will have a net cost of about $1.08 trillion between 2012 and 2022, or almost $50 billion less than what was estimated a year ago, according to new projections Tuesday from the nonpartisan Congressional Budget Office and Joint Committee on Taxation (PDF).

Although the gross cost for the law's insurance coverage provisions over 10 years rose by about $51 billion to a total of $1.49 trillion in the current estimate, the net cost went down by about $48 billion when budget analysts accounted for penalty payments by uninsured individuals and employers, excise taxes on high-premium insurance plans, and other effects almost entirely related to tax revenues.

Read more: CBO foresees lower cost for reform law's insurance provisions - Healthcare business news and research | Modern Healthcare http://www.modernhealthcare.com/article/20120313/NEWS/303139962#ixzz1p6DX6S49
?trk=tynt
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Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

Edit: double post
 
cpwill said:
no, they didn't. they listed the cost. you insist that they should have counted "offsetting" mythical cuts which everybody agrees are not actually going to happen, and accuse them of dishonesty because they simply gave the price of the program. not only are you left with only ad sourcinem, you aren't even left with a good ad sourcinem.
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Let's look at the quote from your OP:

Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO's standard ten-year budget window and, at least on paper, meet Obama's pledge that the legislation would cost "around $900 billion over 10 years." When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation.
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That 900 billion, that is net. What do they compare it to in the CBO report? Gross. That is why they are being dishonest.
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

here is another assessment of the revised numbers and what caused the numbers to change:
ObamaCare 'Savings' Rise $48 Billion, CBO Says, Fueled By More Unemployed, Uninsured - Investors.com

it end with this:
For starters, the new analysis will cover 2013-22. That means 2012, when ObamaCare only adds about $3 billion in insurance coverage costs, will be dropped. And $265 billion in coverage costs for 2022 will be added.
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makes sense for the objective reader, but for those inclined to get excited without knowing why:
THE SKY IS FALLING!!
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Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

AdamT said:
And now for the non-wingnut view, i.e. the truth of the matter:
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the net cost went down by about $48 billion when budget analysts accounted for penalty payments by uninsured individuals and employers, excise taxes on high-premium insurance plans, and other effects almost entirely related to tax revenues.
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Translation:

Taxes, fees, more taxes, more fees...

To the common man...it's not worth the government control.
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

Not to worry folks, the rich can always be fleeced more in order to pay for it. ;)
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

Mycroft said:
Translation:

Taxes, fees, more taxes, more fees...

To the common man...it's not worth the government control.
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Translation: where's my free lunch?
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

lizzie said:
Not to worry folks, the rich can always be fleeced more in order to pay for it. ;)
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yes, the trend for them in the USA has been so difficult over the past 30 years
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

any of you anti obamacare types have a child with an inoperable brain tumor and an insurance company that tries its best to NOT pay ?

have any of you been billed thousands of dollars for a procedure that the insurance company would only have to pay about 30% of what they charge you?

have any of you paid out of your own pocket for an MRI, chemo, radiation treatment?
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

AdamT said:
Translation: where's my free lunch?
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I'm not looking for a free lunch...and I don't want to pay for YOUR lunch either.

Go get your own damned lunch.
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

UtahBill said:
any of you anti obamacare types have a child with an inoperable brain tumor and an insurance company that tries its best to NOT pay ?

have any of you been billed thousands of dollars for a procedure that the insurance company would only have to pay about 30% of what they charge you?

have any of you paid out of your own pocket for an MRI, chemo, radiation treatment?
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No, so Im confused as to why any of that is my problem. I work and pay for my own health care plan, and they treat me fine. So why should I pay for a huge govt program?
 
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Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

Mycroft said:
I'm not looking for a free lunch...and I don't want to pay for YOUR lunch either.

Go get your own damned lunch.
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And what is the purpose of the mandate, do you think? The purpose is to dissuade people who can afford insurance from free-riding on you and me.
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

jonny5 said:
No, so Im confused as to why any of that is my problem. I work and pay for my own health care plan, and they treat me fine. So why should I pay for a huge govt program?
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More accurately, you're probably paying about half the cost or less of your health insurance and your employer is paying the other half. Your employer is deducting its share of the insurance from its taxes, and of course you don't pay income or payroll taxes on the compensation you receive in the form of health insurance. Those tax preferences cost the treasury about $500 billion per year. In other words, people who have health insurance also receive government assistance, and have for many decades.
 
Moderator's Warning:
Threads merged.
 
Re: CBO: Obamacare to cost $1.76 trillion over 10 yrs (Oooops... that's double what t

jonny5 said:
No, so Im confused as to why any of that is my problem. I work and pay for my own health care plan, and they treat me fine. So why should I pay for a huge govt program?
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Our son works, and pays, and thought he was covered....

they treat you fine NOW, wait til you need very expensive procedures......

they treated my grandchild fine, when all she had was minor illnesses, but once she got the tumor, all bets are off...first they tried to say her parents knew she had the tumor when they bought the insurance, but that effort failed....so they paid.
THEN, after exhausting all chemo options (5 years on chemo), her doctor got her on an trial drug that seems to work. Her insurance company wants off the hook for quarterly MRI's that would have been required anyway, they want the drug company to pay for them. Sounds almost reasonable, but they aren't stepping up.
Problem is, neither their insurance company or the doctors or hospital told the parents that they would have to pay for the MRI's and doctor visits, etc. during the trial phase. They now owe about $30K....and he is a teacher who hasn't had a pay raise in 4 years, despite finishing his masters degree.
They pay $530 per month for the policy, $1500 annual deductible, then the insurance company is supposed to pay 100%.
The district covers him as part of his benefits, but not his family.
Even that is changing, I read in the paper today that he will have to pay $80 per month starting next fall.
If they got their family insurance thru his school district, it would be $1,000 per month.
14 years teaching, and his pay is about $50K....
If it wasn't for what the wife and I give them, they would be filing bankruptcy.
 
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