The news goes from bad, to worse to worse my friends. I’m sure the “pain” of this monstrosity will continue to grow until we’ll all need opiates to try and assuage it. But even opiates lose their pain-killing effect after a time and we’ll have to figure out something else.
Yesterday the CBO released another updated report on the financial negative aspects of Zero-care, this time on discretionary spending. The letter is addressed to Rep. Jerry Lewis (R-CA), ranking member of the Committee on Appropriations. Here is the basis of the letter:
In particular, it [the letter] provides an update of the earlier tally of specified authorization amounts, as well as a list of programs or activities for which no specific funding levels are identified in the legislation but for which the act authorizes the appropriation of “such sums as may be necessary.
What will be necessary:
- Explicit authorizations for a variety of grant and other program spending for which specified funding levels for one or more years are provided in the act.
- Explicit authorizations for a variety of grant and other program spending for whichno specific funding levels are identified in the legislation.
The above two items are expected to exceed $115 billion over the 2010-2019 period. But that isn’t all. Next comes the costs expected to be incurred by the implementation of these programs:
- Costs to the Internal Revenue Service (IRS) of implementing the eligibility determination, documentation, and verification processes for premium and costsharing credits. CBO expects that those costs will probably total between $5 billion and $10 billion over 10 years. [emphasis mine]
- Costs to HHS, especially the Centers for Medicare and Medicaid Services, and the Office of Personnel Management for implementing the changes in Medicare, Medicaid, and the Children’s Health Insurance Program, as well as certain reforms to the private insurance market. CBO expects that those costs will probably total atleast $5 billion to $10 billion over 10 years. [emphasis mine]
Yep, Obama. This law is really “deficit neutral” isn’t it?
According to Rasmussen as/of 5/10/10 63% of Americans expect this fiasco will cause an increase in the federal deficit, up 3% from when the law was passed, and 55% rate the present US healthcare system as good or excellent, up from 44% in February. Other bad news:
- As mentioned in a previous post, the CMS (Centers for Medicare & Medicaid Services) predicts healthcare costs will rise, not fall as Mr. Obama claimed.
- Healthcare costs will increase to 21% of GDP by 2019.
- Medical-device companies will cut costs and jobs and future innovation will be compromised.
- 50% of seniors may lose their Medicare Advantage plans.
- Companies are reeling from ObamaCare’s job killing Taxes.
For those of you wishing to see how all this doom and gloom will unfold, here is the timeline of the implementation.
After all is said and done, and tons of docs quit practicing in disgust, will we be able to find a “doctor in the house” other than the one below?