Ellmers: CBO Report Confirms Fears as Obamacare Price Tag Doubles

Statement

Congresswoman Renee Ellmers released the following statement from her office in Washington this afternoon:

"Each month we get new evidence as to the true cost of Obamacare. In September 2009, the President announced that his healthcare plan would cost $900 billion over 10 years. But this week, the nonpartisan Congressional Budget Office came out with a new report on cost projections. The report notes that the true cost will nearly double to $1.76 trillion within the same time period. Furthermore, the gross cost of coverage provisions in the law (not counting partial offsets) will be $1.496 trillion over the next ten years - $50 billion more than the CBO had estimated only a year ago."

"Throughout the healthcare debate President Obama said over and over again 'if you have insurance you like, then you will be able to keep that insurance.' Once again, the facts do not match the rhetoric. The new CBO report shows the law could lead to 20 million people losing their employer-sponsored insurance in 2019. This is the healthcare system we are forced to accept in the bureaucratic rulemaking of Obamacare - one that promises equal entitlement of coverage in exchange for government control, bankruptcy, and an unaccountable government deciding your future. The primary objective of Obamacare is to take healthcare decisions away from physicians and hospitals and place them in the hands of the federal government."

Yesterday, the Congressional Budget Office released anew report on budget projections and extended its cost estimates for Obamacare out to 2022. Fox News noted the following in itsreport from yesterday:

* CBO's update to the budget outlook found that the bill will cost $1.76 trillion between now and 2022. That only counts the cost of coverage, not implementation costs and other changes.

* The first estimates of the cost of the health care bill included three years before the bill even took effect, so there was little or no spending, making the full 10 years look less expensive.

* The CBO model also assumes that between 3 million and 5 million people will lose health care coverage from their employers and there will be 1 million to 2 million more people who won't qualify for the exchanges but will go on Medicaid instead. In all, some 30 million people will remain without health coverage, according to the estimate.

Source