Tuesday, April 10, 2012

Obamacare Price Tag

The cost of Obamacare is going up, not down as promised. This should come as no surprise to anyone who has observed DC politicians over the years.

For those with short memories, here is the text from a presidential speech to Congress on September 9, 2009.
I will not sign a plan that adds one dime to our deficits -- either now or in the future. (Applause.) I will not sign it if it adds one dime to the deficit, now or in the future, period. And to prove that I'm serious, there will be a provision in this plan that requires us to come forward with more spending cuts if the savings we promised don't materialize.
Since that time the federal deficit has increased by more than $4 trillion.

So much for spending cuts.
We've estimated that most of this plan can be paid for by finding savings within the existing health care system, a system that is currently full of waste and abuse.

More than four decades ago, this nation stood up for the principle that after a lifetime of hard work, our seniors should not be left to struggle with a pile of medical bills in their later years. That's how Medicare was born. And it remains a sacred trust that must be passed down from one generation to the next. (Applause.) And that is why not a dollar of the Medicare trust fund will be used to pay for this plan.
Define most . . .

Truth is, MOST of Obamacare is paid for with new taxes, including an increase in Medicare taxes.

The "savings" part comes from lower physician reimbursement, increased Medicare deductibles and higher coinsurance (out of pocket) for seniors, especially on Part A.

Now we are told that the cost of Obamacare will raise the deficit by an estimated $530 billion.
the law is expected to boost net federal spending by more than $1.15 trillion and add between $340 billion and $530 billion to deficits between 2012-21.

"Relative to previous law, the (healthcare law) both exacerbates projected federal deficits and increases an already unsustainable federal commitment to health care spending,"

The Supreme Court will issue a ruling some time this summer on the Constitutional aspects of Obamacare. The law may be left alone, gutted or completely overturned.

Bottom line, we can't afford to keep Obamacare. It needs to go and the lies need to stop.

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