Saturday, September 27, 2014

ObamaCare Will Cost You

Agree, for the law is costly.

William Camden (1551-1623), Remains

It remains to be seen, but ObamaCare is proving to be more costly than originally estimated. A new study from Bloomberg Government found federal spending on Obamacare and related legislation has cost taxpayers $73 billion.

Add in projected spending on the law’s Medicaid expansion bring federal costs to more than $90 billion. The study’s estimate is even higher than the Congressional Budget Office’s “high” cost projection for the law -- $71.2 billion by the end of 2014.

Throw in the cost of, which has cost taxpayers more than $2 billion, over twice the $834 million the Obama administration claimed it cost in an August 2014 report.

And project your thinking out to 2024, at which time, the best guess is the bill will be $2,43 trillion, according to some Congressional sources, and pretty soon, you’re talking about some real debt. New taxes will cover $1.30 trillion and new debt $1.13 trillion.

By the end of the Obama administration in 2016, the national debt will exceed $20 trillion.

And God only knows what it will cost American taxpayers, but it will require the present and future generations to pay it off. The current national debt is $58,000 for each single American. and next gneration

Can you escape the ObamaCare octopus taxpayer incubus? Probably not. If you choose not to participate in the Affordable Care Act in 2014, the penalty for a family of five will be as high as $12,240, rising sharply in 2015 and 2016.

Is the $9000 cost of covering each uninsured in the first 4 ½ years of ObamaCare to pay for subsidies of 10 million of the uninsured worth the cost to society of loss of choice of health plans and doctors along with cancellation of millions of health plans with replacement by more expensive plans?

This is an alarmist scenario, but it plays into the fears of those who warn of the hazards of Big Government. Whether such talk will have an effect of the November 2014 midterms and beyond, no one knows. But there are those who think it might (Lahee Chen, “Runaway ObamaCare Spending Will Cost Democrats,” Bloomberg News, Septmeber 26, 2014).

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