ObamaCare "Glitch" Adds $50 Billion per Year to the Deficit

By:  Brian Koenig
08/10/2011
       
ObamaCare "Glitch" Adds $50 Billion per Year to the Deficit

The true costs of ObamaCare continue to rise, as budget projections under the healthcare law are being understated by as much as $50 billion per year, according to a new report from Cornell economist Richard Burkhauser and his colleagues from Cornell and Indiana University. This alarming revelation is due to official budget forecasts that neglect to account for employees’ spouses and children — which could result in hundreds of billions more in taxpayers’ dollars over the next 10 years. "The Congressional Budget Office has never done a cost-estimate of this [because] they were expressly told to do their modeling on single [person] coverage," Burkhauser alleged. "A very large number of workers" will have access to federal subsidies, "dramatically increasing the cost" of ObamaCare.
 

The true costs of ObamaCare continue to rise, as budget projections under the healthcare law are being understated by as much as $50 billion per year, according to a new report from Cornell economist Richard Burkhauser and his colleagues from Cornell and Indiana University. This alarming revelation is due to official budget forecasts that neglect to account for employees’ spouses and children — which could result in hundreds of billions more in taxpayers’ dollars over the next 10 years. "The Congressional Budget Office has never done a cost-estimate of this [because] they were expressly told to do their modeling on single [person] coverage," Burkhauser alleged. "A very large number of workers" will have access to federal subsidies, "dramatically increasing the cost" of ObamaCare.

The Daily Caller reported:

In May a congressional committee set the accounting rules that determine who will qualify for federal health care subsidies under the 2010 Patient Protection and Affordable Care Act. When the committee handed down the rules to the Congressional Budget Office, its formula excluded the health care costs of millions of workers’ spouses and children. The result was a final estimate for 2010 that hides those costs.

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