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CBO’s 10 Year Spending Score for the Dem House Bill: $1.8 Trillion

From the NY Post’s “Prescriptions for Disaster” — when CBO scores the first ten years of spending, then we see the true cost of the House and Senate ObamaCare bills:

“Each bill is routinely “scored” for its 10-year costs from 2010-19. Yet this includes several years when the spending wouldn’t yet have kicked in. According to the Congressional Budget Office, fully 99.9 percent of the Pelosi bill’s costs would hit from 2013 onward. Similarly, 98.3 percent of Reid’s spending would come after 2014.

“The CBO reports that, in their true first 10 years, the House bill would cost $1.8 trillion, and the Senate bill would cost $1.7 trillion. Pelosi would raise Americans’ taxes by $1.1 trillion over that period, while Reid would hike them by $1 trillion.

And the House bill would siphon about $800 billion from Medicare to spend it elsewhere, while the Senate bill would suck out about $900 billion.”

The impact on our national debt:

“And if we discount the bills’ claims to divert hundreds of billions of dollars from Medicare (which is already on the edge of insolvency), the CBO says the House bill would raise our national debt by about $650 billion in its real first decade, while the Senate bill would up it by $740 billion.

So, the bills would either sock older Americans by taking huge sums of money from Medicare — or hit future generations with huge tax hikes to cover the shortfall.”

COMMENTS

  • bk

     

    • Dan Perrin

      and sold every U.S. dollar they held in reserve..

  • itdiehard

    The total Medicare spending in 2007 was $428 Billion.

    Is the CBO ready to state a 400 fold cost increase in 40 years

    • Dan Perrin

      to keep America on course towards bankruptcy

    • bk

      but hey, what’s a few tens of billions among friends?

      • Dan Perrin

        n/t

      • itdiehard

        The view of Washington elite….

  • dclamage

    The CBO is only putting a price tag on the bill. It’s not considering secondary effects, like the negative impacts to the health industry, our pocketbooks, people’s behavioral changes to counteract the new tax, etc.

    That may be outside the scope of perview of the CBO. But somebody needs to perform a more holistic analysis of the legislation.

    • antigman

      doing that type of study, Not necessarily in a methodical way as an accountant. But they are certainly speaking to those side-effects.

  • olddog

    Why is Congress intent on destroying jobs, and the value of the dollar?? Or is it really as they claim, they care about the People. Makes you go HMMM. As they increase their net worth and empty the treasury into International companies and Big Banks. and install regulations, that will make you a criminal, if you don’t buy, what they are selling. As we become the United Socialist Corp of America. and enslave our children forever. Stand for Freedom, or kiss the feet of your Benefactors, as they force you to bow before them, giving all your ( fill in blank here ).

    Now is the time for all good People, to get very active in the political scene! And not let up.
    One” Inquisitive” Old Dog