Saturday, November 28, 2009

A Six Trillion Dollar Bill

How much would ObamaCare cost for the first ten years?

Through the power of gimmicks, fabrication and wishful thinking, Congress has generated an illusion of relative fiscal responsibility. Democrats in Congress assure us that their bill will only cost about a trillion dollars for the first decade. But when reality comes home to roost, ObamaCare might result in pandemic sticker shock.

Senator Judd Gregg explains:

What they don't tell the American people is they're not spending anything in the first four or five years of the bill. No. They do raise your taxes throughout the ten-year period. They do cut Medicare throughout the ten-year period. But they don't spend the money. They don't start the spending programs until the year 2014. When this bill is fully phased in, when all these new programs, these massive expansion of entitlements are created, these brand-new entitlements, when all this new spending occurs — this bill will cost $2.5 trillion over that ten-year period.

[emphasis added]

The Democrats have also ignored the burden of ObamaCare on individuals and businesses:

Another gimmick pushes much of the legislation’s costs off the federal budget and onto the private sector by requiring individuals and employers to purchase health insurance. When the bills force somebody to pay $10,000 to the government, the Congressional Budget Office treats that as a tax. When the government then hands that $10,000 to private insurers, the CBO counts that as government spending. But when the bills achieve the exact same outcome by forcing somebody to pay $10,000 directly to a private insurance company, it appears nowhere in the official CBO cost estimates — neither as federal revenues nor federal spending.

So if we account for all of the budget gimmicks and hidden fees (requiring employers to purchase health insurance, the cost of the individual mandate, the burden of Medicaid mandates on state governments, the doc fix, sundry off-budget costs and calendar tricks) how much will ObamaCare cost?

$6.25 trillion. (Give or take a few hundred billion).


We Pay Them to Lie to Us

Cato: ObamaCare price tag is $6 trillion.

Wouldn't it be great if you could count a whole month's income, but only two weeks' expenditures in your household budget?

Hawaii May Get to Opt Out of ObamaCare, but other states "shouldn't be able to opt out just because they feel like it"


jbrodhead said...

Lying to the American people, should be considered far more of a crime, than lying to Congress!

There is no value to be found in the elect, whom hold no integrity to their Oath of Office.

DaBlade said...

They rationalize their lies to the American people as the ends justifying their means. The "ends" they seek is what is scary.

Snarky Basterd said...

Somehow this is all starting to remind me of Enron and Worldcom in a strange way.

RightKlik said...

jbrodhead: Sometimes I think they lie just for the fun of it.

DaBlade: They think that if they rape the private health care system, that will justify the lies.

SB: Very good. Enron-style acounting. That was supposed to be in my post!

Conservative Scalawag said...

If and that is a good chance it will pass, but if it does you can kiss the economy good bye. And frankly, I think that is the idea. Therefor,they can replace it in accordance to the Clower-Piven strategy

RightKlik said...

CS: I agree.