Obamacare’s Total Decade Cost Now Stands At An Eye-Watering $1.856 TRILLION

New report by CBO on Obamacare is analyzed by Avic Roy a Forbes contributor. He does an amazing job comparing the prior CBO’s revised reports and also looks at the SCOTUS’ ruling and its impact on new estimates.

In 2010, the CBO estimated that Obamacare’s spending on new programs would amount to $929 billion from 2013-2019, and a ten-year cost of $944 billion. Those figures increased to $956 billion and $1,442 billion respectively in 2011, and $1,053 billion and $1,856 billion in 2012.

By “spending on new programs” I mean all the spending in Obamacare on new programs, principally the cost of expanding coverage via Medicaid and the new exchanges. These figures don’t include the cuts to Medicare, which I will discuss later.

What’s remarkable is that this increased spending comes despite the fact that the CBO estimated that state cutbacks in the Medicaid program, in the wake of the Supreme Court ruling, would reduce government spending by $84 billion from 2012-2022.

Read more at forbes.com

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