Now that the Supreme Court has finally ruled on Obamacare, and let states opt out of the Medicaid expansion, the cost estimates of the program have just changed again. The Congressional Budget Office says there’s good news. Because of cuts to Medicare, all the new taxes and not having to reimburse states that don’t participate, the bill is now estimated to cost only $1.2 trillion over the first decade, or $84 billion less than previous estimates. By the way, only in Washington do accountants use the adjective “only” to describe “$1.2 trillion.”
But here’s the downside. When they say the “cost” is going down, they mean the cost to the federal government, not to anyone else. States that don’t expand Medicaid will still need to supply health care to about 3 million uninsured people. That cost will now come from the states, which still means the taxpayers. Also, those “new taxes” that lower the fed’s cost will add over $5 billion more than previously estimated to the costs of business owners and individuals. Again, it’s another cost to the taxpayers.
The one thing that never changes about Obamacare is that even after more than three years of projections, Republicans and Democrats are still having the same argument. Republicans say we don’t have a clue how much it will cost, and Democrats claim it will pay for itself. I’d say both sides are right, but only because whenever a politician says that a government program will “pay for itself,” what that means is that you’ll pay for it unless we do something.
Obama’s runaway spending train is going to demolish our economy unless we derail it this November. To do that we’ll need to regain the Senate, hold the House and elect Mitt Romney.
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