Obamacare program costs $50,000 in taxpayer money for every American who gets health insurance, says bombshell budget report
It will cost the federal government – taxpayers, that is – $50,000 for every person who gets health insurance under the Obamacare law, the Congressional Budget Office revealed on Monday.A trillion here, a trillion there, and pretty soon you're talking about real money.
The number comes from figures buried in a 15-page section of the nonpartisan organization's new ten-year budget outlook.
The best-case scenario described by the CBO would result in 'between 24 million and 27 million' fewer Americans being uninsured in 2025, compared to the year before the Affordable Care Act took effect.
Pulling that off will cost Uncle Sam about $1.35 trillion – or $50,000 per head.
The numbers are daunting: It will take $1.993 trillion, a number that looks like $1,993,000,000,000, to provide insurance subsidies to poor and middle-class Americans, and to pay for a massive expansion of Medicaid and CHIP (Children's Health Insurance Program) costs.
Offsetting that massive outlay will be $643 billion in new taxes, penalties and fees related to the Obamacare law.
That revenue includes quickly escalating penalties – or 'taxes,' as the U.S. Supreme Court described them – on people who resist Washington's command to buy medical insurance.
It also includes income from a controversial medical device tax, which some Republicans predict will be eliminated in the next two years.
If they're right, Obamacare's per-person cost would be even higher.
President Barack Obama pledged to members of Congress in 2009, as his signature insurance overhaul law was being hotly debated, that 'the plan I'm proposing will cost around $900 billion over 10 years.'
It would be a significant discount if the White House could return to that number today.
ObamaCare Must Go!
One of the best ways to follow the ObamaCare story is via Health Care News, a monthly newspaper published by The Heartland Institute. The January issue begins with an article by Sean Parnell, the managing editor, reporting that ObamaCare enrollment is overstated by 400,000.It is the nature of government programs to over-promise, under-deliver and cost more than projected. They have no real interest in doing otherwise.
“The U.S. Department of Health and Human Services (HHS) once again lowered its estimate of the number of Americans enrolled in health plans through government exchanges in 2014. The 6.7 million enrollees who remain are far lower than the eight million touted in May at the end of the last open-enrollment period.”ObamaCare has been a lie from the moment it was introduced for a vote, all 2,700 pages of it, to the present day. Everything President Obama said about it was a lie. As to its present enrollments, they keep dropping because some 900,000 who did sign up did not make the first premium payment or later stopped paying. . .
End Obamacare, and people could die. That’s okay.
During the health-care debates of 2009, Rep. Alan Grayson (D-Fla.) brought a poster on the House floor: “The Republican Health Care Plan: Die Quickly.” In the summer of 2012, when Obamacare was threatened by a presidential election, writer Jonathan Alter argued that “repeal equals death. People will die in the United States if Obamacare is repealed.” Columnist Jonathan Chait wrote recently that those who may die are victims of ideology — “collateral damage” incurred in conservatives’ pursuit “of a larger goal.” If these are the stakes, many liberals argue, then ending Obamacare is immoral.And governments normally underestimate the cost of government programs and overestimate the benefits.
Except, it’s not.
In a world of scarce resources, a slightly higher mortality rate is an acceptable price to pay for certain goals — including more cash for other programs, such as those that help the poor; less government coercion and more individual liberty; more health-care choice for consumers, allowing them to find plans that better fit their needs; more money for taxpayers to spend themselves; and less federal health-care spending. This opinion is not immoral. Such choices are inevitable. They are made all the time.
Consider, for example, speed limits. By allowing people to drive their cars at speeds at which collisions result in death, our government has decided that the socially optimal number of traffic fatalities is not zero. Some poor souls die: There were more than 30,000 traffic fatalities on America’s roads in 2013. If we didn’t accept that risk, we’d lower the speed limit to a rate at which accidents simply don’t kill, such as 10 mph. Instead, we’ve raised it periodically over the years, and you can now go as fast as 85 mph on a few highways.
. . . public policies — such as speed limits, gun-control measures and many others — usually affect the probability of death, rather than resulting in any specific person’s death. So economists can estimate the amount of money people are willing to pay to avoid slight increases in the probability of dying and then use that estimate to calculate the “value of a statistical life” (VSL).
This measure “serves as the basis for the standard approach used by government agencies to establish monetary benefit values for the predicted reductions in mortality risks from health, safety, and environmental policies,” economist W. Kip Viscusi, a leading VSL expert, writes in a recent paper. He says, based on an analysis of government policies, that the United States places the value of a statistical life between $6 million and $10 million.