New Analysis Reveals Obamacare Will Cost More Than Expected

Kathryn Nix /

When Obamacare was passed into law, its proponents touted the Congressional Budget Office’s analysis showing that it would reduce the deficit. A lot has changed since then. Heritage research reveals that “a close examination of what CBO said, as well as other evidence, makes it clear that the deficit reduction associated with [Obamacare] is based on budget gimmicks, sleights of hand, accounting tricks, and completely implausible assumptions.”

Now, a recent hearing held by the House Energy and Commerce Subcommittee on Health has further revealed that the cost of Obamacare will be higher than expected. Douglas Elmendorf, Director of the Congressional Budget Office, highlighted that CBO’s March 2011 updated analysis of the health care legislation shows its coverage provisions costing $1.1 trillion between 2012 and 2021. This is $90 billion more than the prior month’s estimates for the same time period. (more…)