CBO Absolutely Shocked to Discover Obamacare Is a Financial Train-wreck
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.
A recent report says Obamacare will cost $2.6 trillion – nearly three times as much as Democrats predicted.
It gets worse…
The Obamacare law is now expected to add trillions to the deficits over the next several decades.
Doug Ross reported:
The law is now on track to add to the federal deficit in the first 10 years, albeit by a relatively small amount.
Supporters argue that even with these changes ObamaCare is still cutting deficits because it’s lowering health spending and improving efficiency, and these savings will grow over time as deeper Medicare cuts and bigger tax bills kick in.
But a January report from the Government Accountability Office found that claims of long-term ObamaCare deficit cuts are based on dubious cost-saving assumptions that several independent agencies “expressed concerns about.”
After factoring those out, the GAO found ObamaCare will add $6.2 trillion to deficits over the next 75 years