The ‘Giddy’ Is Gone… O-Care Will Cost Nearly Three Times as Much as Democrats Predicted
Posted by Jim Hoft on Wednesday, July 11, 2012, 12:11 PM
In March 2010 leading democrats and their lackeys in the state-run media were “just giddy” to report that they crunched some numbers and found the nationalized health care bill they were pushing would reduce the deficit by $138 billion.
It was a lie. Democrats knew it was a lie…
But, after several backroom deals they rammed the bill through Congress anyway.
Then in May of 2010 the CBO corrected the numbers and said Obamacare will cost taxpayers at least $115 billion more than promised. Democrats pulled a fast one on the American public.
Republican Senators pointed out the deceit in a 2010 video:
Democrats promised that Obamacare would cost $940 billion when they rammed it through Congress. The actual cost has gone up with each revision.
The latest CBO estimate says ObamaTax will cost $2.6 billion nearly three times as much as Democrats predicted.
If this was a just world they would all be jailed.
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Brent commented:
You meant 2.6 TRILLION, not billion. BIG difference.
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atticcellar commented:
Put a zero at the end and it will still be an underestimate!
kato commented:
But Black America wants it, and nothing is too good for this country’s premier freeloaders.
The NAACP booed Romney when he spoke of repeal and replace. The parasites know that they’re going to get their health insurance for free, to go along with the myriad handouts they already receive because of the color of their skin. Certainly not for the content of their character.
By the way, anyone seen Jesse Jackson Jr. lately? Seems one of our subprime grifters has gone missing, just when he was being asked to answer for some unethical behavior.
Aarradin commented:
Note that the revenue side of Obamacare does NOT go up with the spending.
Even on the day it was passed, it was known that the bill would cost ~$250 billion per year once fully implemented. That’s why there was almost no spending for the first 4 years, a fair bit in year 5 and then the real spending kicked in for years 6+. That’s how they got their favorable score.
The bill as written purports to raise some $800 Billion (over ten years) in revenue, which very gradually increases over time. In other words, they wrote a bill that when fully implemented raises $80 billion a year and spends $250 billion a year and they say that it will reduce the deficit. In fact, since they passed it under reconciliation which by law requires bills reduce the deficit Obamacare would not by law were it not for this lie.
But, the bigger outrage is on the revenue side. Despite the 21 new taxes that supposedly raise >$700 billion (over ten years), it will actually raise far less and blow the deficit sky high.
The biggest fraud is the well-known double spending of the $500 billion Obamacare loots from Medicare. Sebelius herself, in sworn testimony, stated that the $500 billion raised by Medicare for the purpose of Medicare payments will be spent on “Both” Medicare and Obamacare. If you raise $500 Billion and spend $500 Billion then spend another $500 Billion, you are left with a $500 Billion debt. So, this alone means $50 of the $80 billion per year on the revenue side is completely bogus. It will never materialize.
Another fraud is the fact that they included the already-defunct CLASS act for long-term care. They bundled this in to help with the CBO score. They wrote it to raise $75 billion but not pay out a dime for the first ten years, therefor the entire revenue would help with the CBO score. Obama/Sebelius & co. have already officially declared CLASS dead (legally, actually, since there’s a provision to kill it if its determined to not be viable – which it never was). However, they’ve kept the revenue provisions of it in force. Typical Democrat tactic – taxes are forever even when their purpose has ceased to exist. R’s will end this next year taking another $7.5 billion per year out of Obamacare’s funding.
When you sift through all the smoke and mirrors on the revenue side (especially when you realize that the Medicare funding will be spent on Medicare only), and factor in the Laffer curve effect on the remaining taxes (tax hikes NEVER raise as much as projected) you find that Obamacare has only $15-$20 billion per year on the revenue side and $250 billion per year in spending.
Aarradin commented:
@Kato Jesse Jackson Jr – unsubstantiated rumors of a suicide attempt have been reported. I haven’t seen anything I’d put much reliance on though.
Joe College commented:
And ABC hides the story in their political blogs section to make sure nobody sees it. But to their credit at least they carried it at all.
Professor Ayers commented:
Gonna be a lot of redistributin’ going on.
Finncrisp commented:
This is what happens when you design a system that gives you $50 of care for every $2000 spent. Welcome to government control of -YOU!
dwd commented:
“YOU LIE”
-Rep. Joe Wilson
ponderon commented:
http://video.foxbusiness.com/v/1729239779001/doctors-quitting-over-health-care-law/…….
Adirondack Patriot commented:
Joe Biden on May 23, 2010: “This is a big f***in’ deal.”
Joe Voter on July 11, 2012: “This is a big f***in’ problem!”
4justice commented:
“If this was a just world they would all be jailed.”
AAAAMEN
Ripped commented:
No way a group of politicians lied, you have to be kidding!
bobdog commented:
You’ll just have to pass the bill to find out how bad you’ve been screwed, America.
Path commented:
If this was a just world, they ALL would be jailed. Speaking of keeping your doctor if you want to…..sorry, nope, mine already left and I had to find a new one.
Dixie commented:
Tax and spend!! Tax and spend. It’s a tax bill. It has nothing to do with actual health care. Lawyers can still sue the bejeezus out of docs who follow the rules put out by the Feds (which will change will reckless abandon…Medicare regs are written by idiots in rubber rooms, printed in super small type, and come daily). If you like your postman, you can keep…
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