8/09/2011

"Obamacare cost estimates hide up to $50 billion per Year"

Wow, this is fraud. To purposely not include such obvious costs should be a real scandal, and this adds up to a total of $500 billion more in total costs. So much for officially trying to keep the costs at around $1 trillion. From the Daily Caller:

Federal payments required by President Barack Obama’s health care law are being understated by as much as $50 billion per year because official budget forecasts ignore the cost of insuring many employees’ spouses and children, according to a new analysis. The result could cost the U.S. Treasury hundreds of billions of dollars during the first ten years of the new health care law’s implementation.

“The Congressional Budget Office has never done a cost-estimate of this [because] they were expressly told to do their modeling on single [person] coverage,” said Richard Burkhauser in a telephone interview Monday. Burkhauser is an economist who teaches in Cornell University’s department of policy analysis and management. On Monday the National Bureau of Economic Research published a working paper on the subject that Burkhauser co-authored with colleagues from Cornell and Indiana University.

Employees and employers can use the rules to their own advantage, he said. “A very large number of workers” will be able to apply for federal subsidies, “dramatically increasing the cost” of the law, he said. . . .


Of course, this also broke multiple Obama promises: that the health care bill wouldn't add to the deficit and what the program would cost when he ran for president.

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