Great news: CBO says ObamaCare will cost $115 billion more than thought

posted at 5:02 pm on May 11, 2010 by Allahpundit

Of all the slime dripping from ObamaCare, from the de facto bribes to the procedural shenanigans to the Democrats’ insane demagoguery of townhall protesters, the gaming of the CBO numbers is what bothers me most. Which, in a way, is silly. When you’re talking about sums as fantastically astronomical as $940 billion, who cares what the actual pricetag is? But that’s just it: Obama pretended to care, touting the bending o’ the cost curve and demanding that the Democrats bring in a bill below the arbitrary yet politically toxic threshold of $1 trillion. And in order to make that happen, they were willing to tell any lie and pull any accounting trick that they had to, from rigging the cost window to obscure the actual $2.5 trillion pricetag to pouring the enormous costs of “doctor fix” into a separate bill so that it wouldn’t show up in the CBO data on O-Care to pushing the bill through the House before CBO was finished running the numbers. At a moment when Americans desperately need leaders to be frank with them about the cost of entitlements and what it’ll take to restore fiscal stability, Obama gave them a new entitlement built on lie after lie after lie. That’s the legacy of his signature domestic “achievement.”

Congressional Budget Office estimates released Tuesday predict the health care overhaul will likely cost about $115 billion more in discretionary spending over ten years than the original cost projections.

The additional spending — if approved over the years by Congress — would bring the total estimated cost of the overhaul to about $1 trillion…

The CBO released the estimates in response to a request from California Rep. Jerry Lewis, ranking Republican on the House Appropriations Committee. A spokeswoman for Lewis said the inquiry was filed before the House voted on the bill

The CBO estimated in March that the net cost of the overhaul would be $788 billion over 10 years, but cautioned that it couldn’t make an estimate of the discretionary costs without more time and information.

Because it’s discretionary spending, Congress could theoretically decide to cut it. Ahem. Just bear in mind that the vaunted “savings” from O-Care per the CBO score before the bill was voted on was $138 billion. Practically all of that is gone now, and when you incorporate the larger-than-expected cost of “doctor fix,” it looks like we’re actually into the red by the Democrats’ own accounting standards. Who could have seen that coming, except everyone?

Meanwhile, according to a Rasmussen poll released this morning before the new CBO figures came out, the number who think O-Care will increase the deficit is at its highest level yet and approaching supermajority levels. If you think repeal or serious revision is impossible, think again.


Related Posts:

Breaking on Hot Air

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

Comment pages: 1 2

Help? I don’t think anything will actually help, dull the pain? Quite possibly.

Archimedes on May 11, 2010 at 6:51 PM

Don’t, PLEASE DON’T, give Obumbles any ideas.

Cybergeezer on May 11, 2010 at 6:58 PM

Archimedes

Clicking on your moniker doesn’t go anywhere!
Are you ‘BANNED’?

Cybergeezer on May 11, 2010 at 7:02 PM

Of all the slime dripping from ObamaCare, from the de facto bribes to the procedural shenanigans to the Democrats’ insane demagoguery of townhall protesters, the gaming of the CBO numbers is what bothers me most.

..you got that right…

…The blatant lies and deceit from the democrats is maddening….
…..combine the MSM’s blatant activism in helping the democrats deceive and rip off the American people and it is enough to make you want to scream.

…I don’t even think Putin and Pravda lie and deceive their own people on the level that the Obama administration has.

….nothing but a bunch of hustler’s and thieves.

Baxter Greene on May 11, 2010 at 7:03 PM

Cybergeezer on May 11, 2010 at 7:02 PM

Zerohedge does a great job of detailing what’s going on:

http://www.zerohedge.com/

Cody1991 on May 11, 2010 at 7:04 PM

Do the I-Pods and I-Pads know about this?

They must be muzzled, Baracky might get angry.

fogw on May 11, 2010 at 7:04 PM

Boy, am I surprised..I mean, I really thought it was going to be a sound fiscal investment. Sheesh, I guess I have egg on my face now, huh?

Alden Pyle on May 11, 2010 at 7:05 PM

–I still support the bill because it disconnects employment and the health insurance market.

Jimbo3 on May 11, 2010 at 5:39 PM

Ahem.

According to the President’s remarks on March 3 of this year, “It builds on the current system where most Americans get their health insurance from their employer. If you like your plan, you can keep your plan.”

Now, I’ve known he was full of crap for a couple of years now. That doesn’t mean you’re not also, of course.

DrSteve on May 11, 2010 at 7:06 PM

Every CBO member’s pension and salary should be reduced by the percentage that costs exceed their predictions.

elfman on May 11, 2010 at 7:09 PM

I actually tend to agree with your conjecture, having reviewed a lot of analyses of play-or-pay over the last (almost) 20 years — I’m just pointing out the abject dishonesty of the President’s marketing job.

DrSteve on May 11, 2010 at 7:10 PM

Zerohedge does a great job of detailing what’s going on:

http://www.zerohedge.com/

Cody1991 on May 11, 2010 at 7:04 PM

Grazie; The more info the better.

Cybergeezer on May 11, 2010 at 7:11 PM

Do the I-Pods and I-Pads know about this?

They must be muzzled, Baracky might get angry.

fogw on May 11, 2010 at 7:04 PM

We cannot listen to them, they are full of mis-information.

tommer74 on May 11, 2010 at 7:14 PM

“… Obama gave them a new entitlement built on lie after lie after lie.”

Is it just me…

… or is there a very effective political add in there some where?

Seven Percent Solution on May 11, 2010 at 7:21 PM

Clicking on your moniker doesn’t go anywhere!
Are you ‘BANNED’?

Cybergeezer on May 11, 2010 at 7:02 PM

I think its a TOU issue as write for PAPundits Intenational as a side line. I haven’t written anything for a while as I’ve been beyond a net connection making preparation to Go Galt if things keep going as they are.

If your interested in reading my stuff you can most of it at PAPundits under MJMotley, or under same at AQmerican Thinker.

Archimedes on May 11, 2010 at 7:31 PM

Man, the typos do tend to increase with lubrication, I blame it on Glenfiddich.

Archimedes on May 11, 2010 at 7:36 PM

we all knew the CBO was lying. but with every new fact that comes out about Obamacare, I vow stronger to never, ever vote for a Democrat. never, ever.

maybe the Republicans aren’t always better, but it was the Democrats that did this to us.

kelley in virginia on May 11, 2010 at 7:42 PM

–I still support the bill because it disconnects employment and the health insurance market.

Jimbo3 on May 11, 2010 at 5:39 PM

And connects it to a basket of other liberal entitlements that are tens of trillions in the hole.

And where exactly do you think that money comes from Jimbo? Heaven?

Chuck Schick on May 11, 2010 at 7:42 PM

Great news: CBO says ObamaCare will cost $115 billion more than thought

That’s gonna end up being per month.

Akzed on May 11, 2010 at 7:42 PM

Man, the typos do tend to increase with lubrication, I blame it on Glenfiddich. Archimedes on May 11, 2010 at 7:36 PM

Lucky dog.

Akzed on May 11, 2010 at 7:43 PM

This news—though it is not news*news to anyone with half of a brain—is a big effin’ deal. Biden was right but not for the correct reasons.

onlineanalyst on May 11, 2010 at 7:45 PM

–I still support the bill because it disconnects employment and the health insurance market.

Jimbo3 on May 11, 2010 at 5:39 PM

Great. Then YOU can pay the EXTRA $115 BILLION more in discretionary spending over ten years than the original cost projections. It’s about time someone gave ME a handout, thanks jimbo3!

TN Mom on May 11, 2010 at 8:29 PM

Hey highhopes where are you?

Cindy Munford on May 11, 2010 at 8:56 PM

–I still support the bill because it disconnects employment and the health insurance market.

Jimbo3

Can bigfoot fly in your fantasyland?

xblade on May 11, 2010 at 9:10 PM

Man, the typos do tend to increase with lubrication, I blame it on Glenfiddich. Archimedes on May 11, 2010 at 7:36 PM

Ahhh, Glenfiddich… Been there, done that… Well worth the trip over to Scotland!! A bonnie place that makes a lovely whisky!

Khun Joe on May 11, 2010 at 9:14 PM

I still support the bill because it disconnects employment and the health insurance market ice cream has no bones.

Jimbo3 on May 11, 2010 at 5:39 PM

Hmmmm…I think this has more teeth.

BobMbx on May 11, 2010 at 9:58 PM

Hmmmm.

$138 billion?

That’s hardly more than half of Obama’s pre-ObamaCare monthly deficits.

So what would that be? 1/12th of a single year of Obama? 1/48th of Obama’s Presidential deficit?

Well assuming the monthly amount doesn’t increase … which isn’t a particularly good bet atm.

memomachine on May 11, 2010 at 10:10 PM

The bill is a boondoggle that will be scrapped before it is fully implemented. First they have to destroy or nationalize private insurance.

Next step, single payer. Four years tops.

Inanemergencydial on May 11, 2010 at 10:10 PM

It doesn’t matter anyways because current tax revenues cannot even service the interest on the debt starting in 2016.

Inanemergencydial on May 11, 2010 at 10:12 PM

I’m positive, beyond a reasonible doubt, that no one believed the CBO numbers, which brought this in under a Trillion Dollars, were accurate. They knew they had fudged the data to bring about the result they got. They also knew they would have to have to deal with the Doc Fix soon.

The question is, if they know the figures are wrong, then they vote the way they did, will they apologize to save their seats or should their constituents hold them accountable.

Sooner or later, as a country, we need to hold politicians accountable for what they do. When they lie to us, they need to be voted out of office and let’s leave no doubt about this, they lied to us. Of course, those of us who follow this stuff, didn’t believe them, hence the Tea Party Protests and zero Republican votes.

bflat879 on May 11, 2010 at 10:24 PM

Growing up in the 60′s we had survival drills in school to help us in case of a Soviet attack. It was frightening, but I never freaked out because I trusted the adults to be in charge. I trusted the leaders of America to keep Americans as safe as they possibly could. I trusted that all Americans would do everything they could to keep America safe.
Now, I am freaked out! November is all we have left to save ourselves. God help America.

redwhiteblue on May 11, 2010 at 11:31 PM

Now, I am freaked out! November is all we have left to save ourselves. God help America.

redwhiteblue on May 11, 2010 at 11:31 PM

And the way the Democrat Party is behaving, they act like there is more than enough soldiers to replace them up once they are ejected.
And look at former Republicans Crist and Spector sucking up!
We are going to have insurrection before this gets any better.

Cybergeezer on May 12, 2010 at 8:42 AM

Call 911 right now, we have person in the White House with a sever, out of control, case of OCD.

The victim is babbling how everyone of U.S. is his individual ATM.

Rescind his card and PIN now.

MSGTAS on May 12, 2010 at 9:36 AM

We are going to have insurrection before this gets any better.

Cybergeezer on May 12, 2010 at 8:42 AM

That is pretty scarey, but if they push amnesty, I think you are right. Flushing America down the bonzi pipeline upsets millions of people that believe in the promise of America. Once the economic achievers here are stomped out, all that is left is the takers and freeloaders.

There is a difference between those that truly need help from the government, and those that game the system for a free ride. Until effort is made to distinguish the difference between the two, we are on the path to ruination to be sure.

I am for immigration reform, but dead set against amnesty. I have no doubt amnesty will accellerate the speed of America’s demise. The boat is already too full, and amnesty will just create more illegal immigration just like the 1986 amnesty did.

The achievers can only drag an anchor so big.

saiga on May 12, 2010 at 10:12 AM

Every CBO member’s pension and salary should be reduced by the percentage that costs exceed their predictions.

elfman on May 11, 2010 at 7:09 PM

elfman:
You picked the wrong target. It is Congress who caused the fraudulent CBO predictions by insisting that the CBO use false assumptions.

The Representatives and Senators who voted for this pig should be the ones who get their pay and pensions docked.

landlines on May 12, 2010 at 11:32 AM

Growing up in the 60’s we had survival drills in school to help us in case of a Soviet attack. It was frightening, but I never freaked out because I trusted the adults to be in charge. I trusted the leaders of America to keep Americans as safe as they possibly could. I trusted that all Americans would do everything they could to keep America safe.
Now, I am freaked out! November is all we have left to save ourselves. God help America.

redwhiteblue on May 11, 2010 at 11:31 PM

I was scared spitless by those air raid drills. We even had door to door salesmen that came to town trying to sell bomb shelters. We lived in rural AZ, nobody had basements and nobody bought the bomb shelter.

I’ve never forgotten the fear of those days, just like the oldtimers never forgot the great depression. I hope and pray we can take back America.

GrannySunni on May 12, 2010 at 12:13 PM

Stupid Fat Fingers.

hoosiermama on May 12, 2010 at 12:40 PM

115 billion is less than 1% of the actual eventual cost.

MaiDee on May 12, 2010 at 5:42 PM

POTUS is total abject dishonest filth.

BHO Jonestown on May 12, 2010 at 6:55 PM

BHO Jonestown on May 12, 2010 at 6:55 PM

Now that is a moniker!

Inanemergencydial on May 12, 2010 at 11:16 PM

Comment pages: 1 2