Obamacare

The fraud roll-out continues: Obamacare costing taxpayers twice as much as originally claimed

Wednesday, March 20, 2013 by: J. D. Heyes
Tags: Obamacare, rising costs, taxpayers

eTrust Pro Certified

Delicious Pin It
(NaturalNews) When he was selling the Affordable Care Act during his first term, President Obama claimed that the government's near-complete takeover of the nation's healthcare industry would be, well, affordable.

Everyone from the president on down in his administration and in the Democratic leadership insisted that the naysayers and critics were wrong, that Obamacare would not tank the nation by becoming another parasitic entitlement drain on the treasury.

Well, that was 2010. In 2013, fewer than three years later and as more and more provisions of this monstrosity of a law take effect, Americans are beginning to feel the full effect of exactly what then-House Majority Leader Nancy Pelosi, D-Calif., meant when she said of Obamacare, "We have to pass the bill so that you can find out what is in it..."

Yes, healthcare is about to get a lot more expensive

Take the cost of Obamacare. When he was stumping for it, the president promised Americans that, not only could the nation pay for it, but that it would cost around $900 billion over the next decade.

As congressional and independent studies are now confirming; however, Obama's cost claims were grossly understated.

"President Obama promised a joint session of Congress in 2009 to spend $900 billion over ten years on his health care law: 'Now, add it all up, and the plan that I'm proposing will cost around $900 billion over 10 years.' Adding up all the different spending provisions in the health care law; however, (including closing the Medicare 'doughnut hole,' implementation costs, and other spending) total gross spending over the FY 2010-19 period is about $1.4 trillion, based on CBO estimates," explains the Senate Budget Committee Republican staff.

"And most of the major spending provisions in the law do not even take effect until 2014. Congressional Democrats delayed these provisions in order to show only six years of spending under the plan in the original 10-year budget window (from FY2010-19) used by CBO at the time the law was enacted," said the staff report. "Therefore, the original estimate concealed the fact that most of the law's spending only doesn't even begin until four years into the 10-year window. A Senate Budget Committee analysis (based on CBO estimates and growth rates) finds that that total spending under the law will amount to at least $2.6 trillion over a true 10-year period (from FY2014-23) - not $900 billion, as President Obama originally promised."

Partisan sour grapes? You may have noted that the figures used by the GOP staff report come from CBO (the non-partisan Congressional Budget Office).

But there's more.

The Economic Policy Journal notes that the cost of Obamacare won't simply be limited to higher medical costs:

The Joint Committee on Taxation recently released a 96-page report on the tax provisions associated with Affordable Care Act. The report describes the 21 tax increases included in Obamacare, totaling $1.058 trillion (our emphasis) - a steep increase from initial assessment, according to the Tax Prof Blog. The summer 2012 estimate is nearly twice the $569 billion estimate produced at the time of the passage of the law in March 2010.

WWFD: What would the founders do over all these new taxes?

Some of the increases, as compiled by the journal, include:

-- New taxes on so-called "Cadillac," or high-cost, insurance plans.

-- A class warfare tax: Increased payroll and capital gains taxes on those making more than $200,000 a year.

-- Annual taxes on drug manufacturers and importers (a cost which will, of course, be passed along to patients).

-- Annual tax on health insurance providers (again, which will impact your rates - another promise the president has broken).

-- A 10 percent tax on tanning businesses.

-- New fees on insured and self-insured health plans (to punish those who do not opt for a government-run or approved insurance pool).

Yes, Obamacare will cost more than we were told and promised it would cost. A lot more.

Sources:

http://www.economicpolicyjournal.com

http://waysandmeans.house.gov/uploadedfiles/jctpamphletmarch4.pdf

http://www.weeklystandard.com

Get breaking news alerts on GMOs, fluoride, superfoods, natural cures and more...
Join over four million monthly readers. Email privacy 100% protected. Unsubscribe at any time.


Have comments on this article? Post them here:

comments powered by Disqus

Take Action: Support NaturalNews.com

Email this article to a friend

Permalink to this article:

Reprinting this article: Non-commercial use OK, cite NaturalNews.com with clickable link.

Embed article link: (copy HTML code below):
Most Popular
Today | Week | Month | Year

See all Top Headlines...



GET SHOW DETAILS
+ a FREE GIFT

Now Available at ShopNaturalNews.com

O3 Essentials OraJuvenate™
A powerful, cleansing dental cream for maximum oral/dental health.
New Cancer Solutions
Over 3 hours of content covering today’s best cancer tests, how to kill cancer cells and the best diets and exercise routines.
Freeze-Dried 100% Organic Whole Corn
Our freeze-drying method preserves taste, texture and nutrients better than any other food preservation method ever invented.
Fenix TK35 Flashlight
Tough, waterproof, extremely bright and it’s touted to throw an 800+ lumen beam more than 1,000 feet into the night.
Inca Treasure Smoothie Pack
This pack of our four most popular superfoods from South America is the perfect combo pack for smoothie lovers.
Pink Himalayan Salt
This salt delivers significant levels of magnesium, zinc and selenium, with trace levels of dozens of other elements.
Pinhole Glasses - Aviator Style
Pinhole glasses are becoming famous for helping people improve their vision without the risks of laser surgery.
Oxy-Rich Facial Serum
O3 Essentials Jojoba Oxy-Rich Facial Serum is cellular nourishment for your skin. Helps smooth fine lines while enhancing tissue elasticity.
Freeze-Dried 100% Blackberry Halves
Our freeze-dried blackberry halves are grown in Serbia under strict organic standards.

Also on NaturalNews:

Health Ranger Videos
Activist music
CounterThink Cartoons
Food documentaries
FREE Special Reports
Podcasts
Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

Most Popular Stories

Flu shot kills 19-year-old, but vaccine industry still has total immunity against lawsuits
Here's a nutty fact: Eating more tree nuts lowers the risk of all-cause death by up to 20 percent
Six important facts you're not being told about lost Malaysia Airlines Flight 370
Malaysia Airlines Flight 370 now clearly a government cover-up: All evidence contradicts official story
10 other companies that use the same Subway yoga mat chemical in their buns
BLM fracking racket exposed! Armed siege and cattle theft from Bundy ranch really about fracking leases
High-dose vitamin C injections shown to annihilate cancer
U.S. treating meat with ammonia, bleach and antibiotics to kill the '24-hour sickness'
USDA to allow U.S. to be overrun with contaminated chicken from China
Vaccine fraud exposed: Measles and mumps making a huge comeback because vaccines are designed to fail, say Merck virologists
Battle for humanity nearly lost: global food supply deliberately engineered to end life, not nourish it
Diet soda, aspartame linked to premature deaths in women

25 Amazing Facts About Food

This FREE downloadable report unveils a collection of astonishing and little-known facts about the food we eat very day. Click here to read it now...

 

Resveratrol and its Effects on Human Health and Longevity - Myth or Miracle.

Unlock the secrets of cellular health with the "miracle" nutrient Resveratrol Click here to read it now...

 

Nutrition Can Save America

FREE online report shows how we can save America through a nutrition health care revolution. "Eating healthy is patriotic!" Click here to read it now...

The Healing Power of Sunlight and Vitamin D

In this exclusive interview, Dr. Michael Holick reveals fascinating facts on how vitamin D is created and used in the human body to ward off chronic diseases like cancer, osteoporosis, mental disorders and more. Click here to read it now...

Vaccines: Get the Full Story

The International Medical Council on Vaccination has released, exclusively through NaturalNews.com, a groundbreaking document containing the signatures of physicians, brain surgeons and professors, all of which have signed on to a document stating that vaccines pose a significant risk of harm to the health of children. Click here to read it now...

Health Ranger Storable Organics

GMO-free, chemical-free foods and superfoods for long-term storage and preparedness. See selection at www.StorableOrganics.com



Recommended Resources On:

Natural News trends
Health Ranger news
Natural News GMOs
Mike Adams tracker
Natural News photos
Natural News Global
Natural News in focus
Natural News connect
Natural News shocking stories
Natural News radar
GMOs
Quackwatch
Vaccines
Health freedom
Dr. Paul Offit

This site is part of the Natural News Network © 2014 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

eTrust Pro Certified Android app on Google Play

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of NaturalNews.com, the internet's No. 1 natural health news site. (Source: Alexa.com)

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.