The AP is reporting the Democrat’s “health care bill headed for a vote in the House this week costs $1.2 trillion or more over a decade”. This is according to “numerous Democratic officials and figures contained in an analysis by congressional budget experts”. This extremely high figure far exceeds the $900 million cited by President Obama.
While the Congressional Budget Office has put the cost of expanding coverage in the legislation at roughly $1 trillion, Democrats added billions more on higher spending for public health, a reinsurance program to hold down retiree health costs, payments for preventive services and more.
House Speaker Nancy Pelosi has often referred repeatedly to the bill’s net cost of $894 billion over a decade for coverage. Even though this is an extremely hefty price tag it’s no where close to the actual cost of $1.2 trillion.
I really do not understand how Nancy Pelosi can honestly believe her own rhetoric that this behemoth piece of bureaucracy will not add to our already record breaking deficits. Pelosi spokesman Brendan Daily stated that “it will not add one dime to the deficit. In fact the CBO said last week that it will reduce the deficit in the first 10 years and in the second 10 years”.
There is absolutely no way providing coverage for nearly 40 million more Americans will NOT increase taxes on U.S. citizens who are already struggling with bad economic times. The number of resources in the medical field will be remaining constant if not decreasing.