As of now, I am in control here, in the White House

Look: More Fibbing. Obamacare Saves . . . Not So Much

Oh no. Was President Obama’s promise that Obamacare would “bend the cost curve” on health spending just a bill of goods? Could we just lump this in with “everything’s paid for” and “If you like you insurance, you can keep it” as deceptive White House advertising?

Well, yes!

At least according to the Congressional Budget Office. From Stephen Moore at the Wall Street Journal

Remember the much ballyhooed ObamaCare promise to “bend the health care cost curve down”?

Well, a new Congressional Budget Office report on the long-term trend in the federal budget finds that the costs of Medicare and Medicaid will drive federal spending and debt to all-time highs in coming decades. In one scenario, federal health-care spending doubles over the next 25 years, to 11% of GDP in 2035 from 5.6% this year. In another scenario, the debt eclipses 100% of GDP by 2021 and 190% of GDP by 2035. That’s higher than where Greece is right now, and we see what the bond vigilantes are doing there.

What is conspicuously missing from this report is the magical windfall from the new health law. CBO reports that it is “using the same growth rates that would have been applied in the absence of the legislation.” Now they tell us. Hence, Medicare alone is projected to nearly double over the next 25 years, from 3.7% of GDP to almost 7% by 2035.

CBO warns that ObamaCare’s purported payment cuts to doctors and hospitals and the hoped-for reductions in the growth of the insurance subsidies would be “difficult to sustain over a long period.” Let us translate all this mumbo jumbo: The ObamaCare cost savings are mostly bunk.

 

Share on FacebookTweet about this on TwitterShare on RedditShare on LinkedInEmail this to someone

11 Responses to Look: More Fibbing. Obamacare Saves . . . Not So Much

  1. Now, who would have ever thought that spending more money would result in more money being spent? This is just an unprecedented thing.

      • Since when did Americans who love their country and have pride in its founding become right-wing nutcases? I know quite a few hard core Democrats who would be offended by that article. Keep it up whacky liberals and you will be as despised as King George and his redcoats were in 1776.

        • Nothing good could ever result from a bill hatched in a smoky room
          full of neo- socialists partisans making shady deals amongst themselves while obambo displayed his wussy leadership from the fairways, Air Force one, and Martha’s vineyard..

          Our founding Fathers called this Tyranny before
          they took it upon themselves, and spilled their blood to erase it from our land…I pray history wont repeat itself..

  2. There is an old Texas saying…”If you’re ridin’ ahead of the herd, take a look back every now and then to make sure it’s still there.” Time for Obama to take a look behind him because the herd is getting pretty thin. His lies are catching up to him.

    • Or as Satchel Page once said, “Don’t look back. Something might be gaining on you.”
      For Obama and the Dems (especially) in the US Senate, the electorate is, in fact, “gaining on you.”

  3. The Regressives are going to kill the patient (American healthcare) in order to cure the patient.

    BUT, they have an ace in the hole, Obama, the much touted Regressive messiah that will raise this modern day Lazarus from the grave.

  4. If only Obamacare was about health care or healthy living it might be a good thing. However, Obamacare is about the redistribution of wealth and control of the American public by government fiat.

    I believe it was “Star” who asked.. if Obamacare was so wonderful, why wasn’t Medicare lumped into the program. Good question.

  5. Wait, you mean ObamaCare won’t save us money but cost us more?!!
    How come we weren’t told this before? I suppose Congress should have read the bill before it was passed, but then again Madame Pelosi was the Speaker of the House at the time.