2aguy
Diamond Member
- Jul 19, 2014
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And here is a look at how obamacare was going to reduce costs.....told to us by the CBO....What CBO Said About Obamacare in 2009 is Why You Can't TRUST Them Now
PolitiFact reported back in 2009:
The nonpartisan Congressional Budget Office (CBO) studied the health care bill proposed by Sen. Harry Reid, D-Nev., and concluded that if passed, most people would see a very modest decrease in premiums by 2016 (compared to what they would pay under the current system). How modest? Best-case scenario – for those in group plans with large companies – about 3 percent better. For a small percentage of people (less than 8 percent of the insured) who would buy insurance on the individual market, and who wouldn’t be eligible for federal subsidies, they might actually pay 10 to 13 percent more, though with new federal minimum standards, they’d also be getting more insurance coverage as well.
The second way to look at cost is its effect on the national deficit. And here again, the CBO has weighed in on the Reid plan. The CBO concluded that while the plan would be very expensive, the bill is also more than paid for with new taxes and plans to reduce health care spending over time. The net effect, according to the CBO, is that over 10 years, the plan would end up reducing the national deficit by $130 billion.
While the report flippantly noted that some would pay “10 to 13 percent more,” we know that in many cases, it’s far worse than that.
As we all know, the CBO’s predictions about Obamacare didn’t turn out to be true.
In Nov. 2016, Fortune reported:
But wait, there’s more. In Thoughts from the Frontline, I’ve written about the significant increases in the cost of insurance premiums under the Affordable Care Act. The rising premiums aren’t figured into the CBO budget forecast.
Many of you might think that’s not a budget issue because individuals pay the premiums. But keep in mind, we are subsidizing, either partially or completely, 25 million people under the Affordable Care Act. And rising premiums for those people will indeed mean an increase in the deficit. Within a few years that could add $200 billion to the deficit unless we figure out how to control healthcare costs.
Yeah, it doesn’t look like the CBO is the most reliable source here …
PolitiFact reported back in 2009:
The nonpartisan Congressional Budget Office (CBO) studied the health care bill proposed by Sen. Harry Reid, D-Nev., and concluded that if passed, most people would see a very modest decrease in premiums by 2016 (compared to what they would pay under the current system). How modest? Best-case scenario – for those in group plans with large companies – about 3 percent better. For a small percentage of people (less than 8 percent of the insured) who would buy insurance on the individual market, and who wouldn’t be eligible for federal subsidies, they might actually pay 10 to 13 percent more, though with new federal minimum standards, they’d also be getting more insurance coverage as well.
The second way to look at cost is its effect on the national deficit. And here again, the CBO has weighed in on the Reid plan. The CBO concluded that while the plan would be very expensive, the bill is also more than paid for with new taxes and plans to reduce health care spending over time. The net effect, according to the CBO, is that over 10 years, the plan would end up reducing the national deficit by $130 billion.
While the report flippantly noted that some would pay “10 to 13 percent more,” we know that in many cases, it’s far worse than that.
As we all know, the CBO’s predictions about Obamacare didn’t turn out to be true.
In Nov. 2016, Fortune reported:
But wait, there’s more. In Thoughts from the Frontline, I’ve written about the significant increases in the cost of insurance premiums under the Affordable Care Act. The rising premiums aren’t figured into the CBO budget forecast.
Many of you might think that’s not a budget issue because individuals pay the premiums. But keep in mind, we are subsidizing, either partially or completely, 25 million people under the Affordable Care Act. And rising premiums for those people will indeed mean an increase in the deficit. Within a few years that could add $200 billion to the deficit unless we figure out how to control healthcare costs.
Yeah, it doesn’t look like the CBO is the most reliable source here …
