Soaring ObamaCare costs break the bank
May 28th, 2010 | by Brian Schwartz |Key points about HR 3590 from Grace-Marie Turner in Soaring ObamaCare costs break the bank:
- “The Congressional Budget Office recently issued a revised estimate showing the law will cost $115 billion more than it projected the week before it was enacted.”
- “A report by the Obama administration’s own actuary, issued a month after Congress passed the reform legislation, showed it will increase federal health spending by $311 billion over the next decade and likely much more.”
- “The chief actuary for the administration’s Centers for Medicare and Medicaid Services, Richard Foster, also predicts higher health insurance premiums for individuals and businesses. … Foster says the program faces “a significant risk of failure” and finds the program will result “in a net federal cost in the long term.” [more here]
- THe CBO “says families purchasing health insurance in the individual market will pay $2,100 a year more for coverage by 2016 than they would had the measure not passed”
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tags: Congressional Budget Office, government spending, HR 3590
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