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June 17, 2009

Obamacare would actually cost $4 trillion

Topics: Health Issues, Political News and commentaries

Via Philip Klein at The American Spectator, although the CBO estimated that the current Democratic Senate health care bill would increase the defict by $1 trillion over 10 years while leaving 30 million uninsured. At the time, the CBO was only working with a draft of the bill that had holes in it and didn't actually reflect the full cost which a consulting group has since found to be much more while leaving far more uninsured::

[...] Health Systems Innovations Network, a consulting group, went ahead and estimated the full cost of a bill that included the subsidies and Medicaid expansion, and reduced the number of uninsured by 99 percent. With these assumptions, they estimated (pdf) the cost at a staggering $4 trillion over 10 years, resulting in the shift of 79 million Americans to government-run health care. The report does not include possible tax increases or spending offsets, but notes that, "this would be a challenging proposal to finance with budget neutrality."

As The American Spectator piece points out, in his speech to the American Medical Association on Monday, Obama declared that the price tag of health care legislation = "is a cost that will not - I repeat, not - add to our deficits." For this to happen it can only mean incredibly high taxes and rationed care - "through an innocuous-sounding concept called "comparative effectiveness research" -- which will allow bureaucrats to delay and deny care on the grounds it is not "effective" -- and indirect rationing through squeezing the reimbursement of doctors and hospitals.".

As Lawrence A. Hunter notes at the above link, "Americans must understand: ObamaCare equals HillaryCare; same poison, different bottle."

Related:
Canada's ObamaCare Precedent
The Coming World Of Obamacare and AGW Taxes

Posted by Abdul at June 17, 2009 8:39 AM



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