Cost of ObamaCare Now Expected to Almost Double Initial Estimates

Hey, remember when we were told that ObamaCare would “only” cost about $940 billion? It was still passed against the will of a majority of Americans. Imagine the outcry had people known the true cost. Now we find out that the CBO is predicting it will cost nearly double the initial projection – a whopping $1.76 trillion over the next decade. This isn’t Monopoly money, folks.

Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO’s standard ten-year budget window and, at least on paper, meet Obama’s pledge that the legislation would cost “around $900 billion over 10 years.” When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation.

Read the whole thing, it gets even worse. And if that wasn’t bad enough, read the follow post regarding how many people are expected to lose insurance coverage through their employers and shifted into Medicaid. So much for Obama’s promise that if you like your health insurance you can keep it. 

Update: Linked by The Pirate’s Cove and The Other McCain – thanks!