No wonder Democrats had to rush passage of their health care overhaul legislation:
Congressional Budget Office estimates released Tuesday predict the health care overhaul will likely cost about $115 billion more in discretionary spending over ten years than the original cost projections.
The additional spending — if approved over the years by Congress — would bring the total estimated cost of the overhaul to over $1 trillion.
Over at Verum Serum, John observes, this “almost precisely negates the amount the bill is supposed to reduce the deficit, i.e. $138 billion.” And let’s not forget this is over a ten-year period during which the program is only fully operational in the last six years.
First, we had the report of the Medicare actuary, then we learned that companies might start “dumping the health care coverage they provide to their workers in exchange for paying penalty fees to the government.” Guess we could say we told you so.
Don’t think this program will be cutting health care costs or reducing the deficit as the Democrats promised. And even with their promises, they couldn’t sell it to the American people (but they could sell it to Congress). Wonder what this latest report will do for its numbers. I mean, most people never even believed it would cut the deficit anyway:
. . . according to a Rasmussen poll released this morning before the new CBO figures came out, the number who think O-Care will increase the deficit is at its highest level yet and approaching supermajority levels. If you think repeal or serious revision is impossible, think again.
If this gets any coverage, it’s going to do wonders for the president’s poll numbers — and those of Democrats.