Washington’s New Math

Ed Morrissey posted an article at Hot Air about the additional $111 billion in Obamacare costs requested in the President’s budget for next year. Keep in mind that Obamacare is not even fully implemented yet and it’s cost to taxpayers have increased by 33%. Wow. That is amazing math!

The article reports:

House Ways and Means Committee Chairman Dave Camp, R-Mich., wants to know by Monday why the estimated ten-year cost of helping millions of middle-class Americans buy health insurance has jumped by about 30 percent. …

At issue are subsidies that will be provided under the health care law to help middle class people buy private coverage in new state insurance markets that will open for business in 2014.

The response of the Obama Administration:

Administration officials say the big increase from last year’s estimates is no cause for alarm and that the administration is not forecasting an erosion of employer coverage or higher insurance costs.

About two-thirds of the increase is due to effects of newly signed legislation that raises costs for one part of the health care law, but still saves the government money overall. The rest is due to technical changes in Treasury assumptions about such matters as the distribution of income in America.

Does anyone actually believe that after Obamacare is fully implemented, it’s costs will go down. We need to repeal Obamacare as soon as possible!

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