ACA is signature legislation that insures our rights to health care.
Now the CBO is has produced new estimates as to the projected costs. They are way beyond what was originally produced when this needed legislation was passed according to today's reports.
I'm seeking your help to explain this to my neighbors and friends.
Any help?
More beyond the squiggle.
CBO: Obamacare to cost $1.76 trillion over 10 yrs
President Obama's national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law.
And this:
CBO boosts its Obamacare Medicaid cost estimate
The CBO now projects that from 2012 through 2021 the federal government will spend $168 billion more on Medicaid than it expected last year, $97 billion less on subsidies for people to purchase insurance on government-run exchanges and $20 billion less on tax credits to small employers. That works out to a $51 billion increase in the gross cost of expanding coverage from what the CBO estimated a year ago. However, the CBO also expects the federal government to collect more revenue from penalties on individuals and employers, as well as other taxes. These revenue increases will more than offset the spending increases, according to the CBO, so it now expects the cost of Obamacare during those years to be $48 billion lower.
This is all very confusing.
Any help?
Thanks in advance.