May 13 2010

A shocking admission?

Category: Congress,economy,government,healthcare,legislation,media,politicsharmonicminer @ 8:10 am

Health overhaul law potentially costs $115B more

President Barack Obama’s new health care law could potentially add at least $115 billion more to government health care spending over the next 10 years, congressional budget referees said Tuesday.

If Congress approves all the additional spending called for in the legislation, it would push the ten-year cost of the overhaul above $1 trillion — an unofficial limit the Obama administration set early on.

The Congressional Budget Office said the added spending includes $10 billion to $20 billion in administrative costs to federal agencies carrying out the law, as well as $34 billion for community health centers and $39 billion for Indian health care.

The costs were not reflected in earlier estimates by the budget office, although Republican lawmakers strenuously argued that they should have been.

Say it isn’t so! You mean, a newly minted government program is really going to cost more than they said it would?

I’m shocked and appalled. Mostly appalled.

Appalled that there is anyone, anywhere, who doesn’t think that the program is likely to cost 2 or 3 times as much as estimated, at a minimum… and maybe much more.

Of course, there are people in the world who know nothing of history.