http://www.washingtonpost.com/blogs/fact-checker/post/obamacare-and-the-myth-of-rising-cost-estimates/2011/03/24/ABn6JmRB_blog.html
The venerable Congressional Budget Office issued an updated budget projection last week, and critics of the new health care law pounced.
In a news release, the House Energy and Commerce Committee, which is chaired by Rep. Fred Upton (R-Mich.), declared that “according to CBO’s latest estimates, the cost of Obamacare has increased by $500 billion. Meaning, in only one year, the cost has increased from an already staggering $938 billion price tag to $1.445 trillion.” The news release then cheekingly noted what a half-trillion dollars could buy. “1,002,004,008 iPad 2s,” for instance. Or “a Ford F-150 for every resident in New York City, Los Angeles, Chicago, Houston, Phoenix, Philadelphia, San Antonio and Omaha.”
Meanwhile, the Wall Street Journal had some different math in a March 23 editorial, saying: “Obamacare will be far more expensive than advertised. To wit, CBO says the entitlement's health insurance subsidies will cost $1.13 trillion between 2012 and 2021, not $1.04 trillion, the prior estimate. . . . CBO is conceding that it significantly underestimated the bill's cost.”
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Zim: This is not new to those of us who have
brains . . . but maybe OCU will read it and weep.
Zim.
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