Thursday, November 26, 2009

Obamacare's Generational Theft

Shown above is a new improved graph detailing the true ten year cost of the Democrats' Senate health care bill. The graph I had posted previously (11/23) included only those costs for expansions in insurance coverage. There are many other costs, including, as noted on the Weekly Standard blogsite,
...spending related to the CLASS Act, risk-adjustment payments, funding for the government-run "public option" (not a cent of which is included in the figure for "expansions in insurance coverage"), and other new federal spending.
Those costs bring the total level of projected expenditures for 2014-2023 to $2.5 trillion, dwarfing the Democrats "official" ten year number of $848 billion, which is a lie twice over. It includes four years of spending from 2010 to 2013, even though benefits from the bill don't begin paying out in earnest until 2014. And it only includes a portion of the bill's total costs. Also, note the upward trajectory of annual outlays. CBO cost projections for the first 15 years are well in excess of $4 trillion. Which only means that the actual cost will ultimately be north of $10 trillion since all initial price tags for federal health care programs are woefully underestimated.
I haven't listened to it but apparently there's an audio recording circulating in which two women waiting in line for unemployment checks in Detroit are asked where they thought the money was coming from. Their answer - from Obama's private stash. That's no doubt how he sees it too.

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