The Congressional Budget Office on Tuesday released
a new estimate attributing $115 billion in additional spending to
the new national health care law, driving the full cost over the
first decade to over $1 trillion.
But the CBO cautioned that it didn’t have enough information to
project all of the additional costs.
The discrepancy between the new figures and the oft-cited
$938 billion ObamaCare cost estimate comes because during the
health care debate, the media only focused on the cost of the
spending provisions aimed at expanding insurance coverage.
But the health care law also had all sorts of other discretionary
spending costs, and implementation expenses, that were never
calculated into a total figure. These include spending such as
$39 billion for the Indian health improvement act; $34 billion in
Federal Qualified Health Center grants; $9.1 billion in funding
for the National Health Service Corps; and $5 billion to $10
billion in increased costs to the Internal Revenue service.
Add it all up, and it brings the cost of ObamaCare to $1.053
trillion from 2010 to 2019.
However, the way in which the law was drafted left the actual
amount to be appropriated up in the air, merely writing “such
sums as may be necessary,” which prevented the CBO from
performing a full cost analysis:
For those activities, the lack of guidance in the legislation
about how new activities should be conducted means that, in
many cases, CBO does not have a sufficient basis for estimating
what the “necessary” amounts might be over the 2010-2020
period.
H/t the Politico.
UPDATE: To clarify, the CBO earlier estimated $55 billion in
discretionary costs, so this new estimate adds $60 million to
that figure. However, it’s still true that discretionary spending
was not included in the headline $938 billion number that deals
only with the cost of expanding coverage. Therefore, combined
spending easily tops $1 trillion.
Pingback| 5.11.10 @ 5:48PM
Twitter Trackbacks for The American Spectator : AmSpecBlog : CBO Adds $115 Billion t links to this page. Here’s an excerpt:
Pingback| 5.11.10 @ 6:27PM
Another Captain Obvious Moment Courtesy of Obamacare :: YankMcCain.com links to this page. Here’s an excerpt:
Pete| 5.11.10 @ 7:30PM
Shocking. You aren't implying that our masters, our betters, in the federal government, distorted the truth to amass more power, are you? And even if they did, it is for our own good, you know.
Pingback| 5.12.10 @ 8:08AM
The B&R Wednesday Edition | Bob Parks: Black & Right 2010 links to this page. Here’s an excerpt:
RacerJim| 5.12.10 @ 9:11AM
The silence of the msm re yet another Obama LIE is also shocking...NOT!
Nick in Virginia| 5.12.10 @ 11:34AM
Maybe we can get a Lemon Law on laws passed by Congress?
JmsA| 5.12.10 @ 11:55AM
And the hits keep on coming! What else would anyone with any common sense expect for the lying' communists? Can't wait for the drive-by trolls' (and you know who who all are) comments defending the indefensible.
Yosemeti Sam| 5.12.10 @ 11:56AM
" ... CBO does not have a sufficient basis for estimating what the "necessary" amounts might be over the 2010-2020 period."
Estimating?
Sufficient Basis?
Yo - CBO: give Al Gore et al a call. They're into
estimating on insufficient basis of data input.
Great at garbage in garbage out number crunching
estimations.
Right up their/your ally.
Pingback| 5.13.10 @ 2:46PM
Where in Las Vegas is good to live with small children and still affordable? | TV dra links to this page. Here’s an excerpt: