New Study Puts ObamaCare Deficits over $1 Trillion

Brian Riedl / September 09, 2009

During tonight’s address to Congress, President Obama is expected to repeat his contention that health care reform should reduce federal health care costs and not expand the budget deficit. The House health bill (as amended by the Energy and Commerce Committee) fails those standards according to a new Lewin Group study commissioned by the Peter G. Peterson Foundation. According to the study, the House bill:

• Would run a $39 billion deficit in the first decade, and a $1,010 billion deficit in the second decade;
• Faces a gross cost (excluding tax increases and Medicare and Medicaid reforms) of $858 billion in the first decade, and $2,893 billion in the second decade; and
• Would raise taxes by $588 billion in the first decade and $1,148 billion in the second decade. (more…)