Medicare Actuary And CBO Says ObamaCare Will Increase Expenses

That is increase expenses over what it would have been had the Democrats done nothing. We did not have to wait long for that. I will just stand back now and collect my fair share of the apologies from being attacked for saying what was true all along. Ok; my fair share is pretty small, but even if it was not I would not hold my breath waiting.

http://www.usatoday.com/news/washington/2010-04-22-health-care-costs_N.htm

"President Obama's health care overhaul law will increase the nation's health care tab instead of bringing costs down, government economic forecasters concluded Thursday in a sobering assessment of the sweeping legislation.

A report by economic experts at the Health and Human Services Department said the health care remake will achieve Obama's aim of expanding health insurance — adding 34 million Americans to the coverage rolls.

But the analysis also found that the law falls short of the president's twin goal of controlling runaway costs. It also warned that Medicare cuts may be unrealistic and unsustainable, driving about 15% of hospitals into the red and "possibly jeopardizing access" to care for seniors.
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A separate Congressional Budget Office analysis, also released Thursday, estimated that 4 million households would be hit with tax penalties under the law for failing to get insurance.

The U.S. spends $2.5 trillion a year on health care, far more per person than any other developed nation, and for results that aren't clearly better when compared to more frugal countries. At the outset of the health care debate last year, Obama held out the hope that by bending the cost curve down, the U.S. could cover all its citizens for about what the nation would spend absent any reforms.

The report found that the president's law missed the mark, although not by much. The overhaul will increase national health care spending by $311 billion from 2010-2019, or nine-tenths of 1%. To put that in perspective, total health care spending during the decade is estimated to surpass $35 trillion."

Read more at http://hotair.com/archives/2010/04/23/surprise-obamacare-will-increase-expenses-says-medicare-actuary.