Obamacare: Will Cost the Federal Budget Twice As Much

Original estimates for Obama’s health care law included three years before the bill even took effect, making the price look less expensive.  Now, the Congressional Budget Office (CBO) has corrected the math and shows Obama’s bill to be substantially more expensive with a price tag of $1.76 trillion.  That is twice the amount Obama initially proclaimed — $900 billion.

Senator Jeff Sessions (R-AL) says “The bill spends more than the president promised.  We spent a whole summer fighting over a way to reduce spending by $2.1 trillion and here this bill is going add $2.6 trillion more in spending.”

Not only will Obamacare cost the U.S. Budget twice as much, the CBO predicts between three million to five million Americans will actually lose their health care coverage from their employers.  The CBO also predicts that under extreme measures, especially during a slow economic recovery and small job growth, 30 million Americans could remain without health coverage under Obama’s bill.

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