Monday, June 09, 2014

Phase three of the Obamacare cost projections

Phase one: Obamacare will reduce the budget deficit
Phase two: Obamacare will be deficit-neutral
Phase three: We can't figure out what the costs will be
Phase four: Obamacare increases the budget deficit

Fiscal Times: "CBO Quietly Drops Forecast That Obamacare Will Cut the Deficit":
In April, the agency quietly signaled that it can no longer make that projection; that the law had been changed and delayed so much that there is no longer a credible way to estimate the long-term effects on the deficit of all elements of the program taken together.
A majority of Americans have seen this coming because the history of entitlements suggests that political pressures always lean towards expanding benefits and minimizing penalties, thereby taking the path of least resistance which is expanding budget deficits.

1 comment:

Anonymous said...

"The large subsidies for health insurance that helped fuel the successful drive to sign up some 8 million Americans for coverage under the Affordable Care Act may push the cost of the law considerably above current projections, a new federal report indicates"
-LA Times