The Obamacare cost explosion continues.

[SemiAuto]

The Congressional Budget Office on Tuesday quietly raised the 10-year cost of ObamaCare's insurance subsidies offered via the health law's exchanges by $233 billion, according to a Congressional Budget Office review of its latest spending forecast.

The CBO's new baseline estimate shows that ObamaCare subsidies offered through the insurance exchanges — which are supposed to be up and running by next January — will total more than $1 trillion through 2022, up from $814 billion over those same years in its budget forecast made a year ago. That's an increase of nearly 29%.

source

Shockingly unexpected quote of the day, "Still, if those other savings fail to materialize, ObamaCare's overall cost could end up far higher than promised."

[skeemer]

That's only $23 billion a year. What's the problem, Semi?

[SemiAuto]

The GOP is largely to blame. They hold the purse stings in congress and could put a stop to it. That they don't makes it their fault.

[CajunRaven]

Hmm, the cost goes up and we hear now that 7 million people may be without insurance next year because their company will pay the fine instead of the premium.

[Brohan]

Cost shmost...you can't put a price on Obama's legacy.

[soulflower]

source

Shockingly unexpected quote of the day, "Still, if those other savings fail to materialize, ObamaCare's overall cost could end up far higher than promised."

Could be higher or lower. These are just estimates...

[CajunRaven]

Could be higher or lower. These are just estimates...

Sorry, I just can't resist here. You really believe a government estimate will end up high and the actual spend will be less.

[jonsensback]

Sorry, I just can't resist here. You really believe a government estimate will end up high and the actual spend will be less.

That is priceless and must come from one either very young with no experience in the ways of government contracts, programs, spending etc.. or just plain naive

[soulflower]

Sorry, I just can't resist here. You really believe a government estimate will end up high and the actual spend will be less.

Sometimes it IS less. Stranger things have happened.

The CBO has been wrong on their projections plenty of times. I find it funny how one minute you guys are dissing the CBO and the next, you're treating their projections as gospel...

[CajunRaven]

Sometimes it IS less. Stranger things have happened.

The CBO has been wrong on their projections plenty of times. I find it funny how one minute you guys are dissing the CBO and the next, you're treating their projections as gospel...

Where have I dissed or treated their projections as gospel.

The CBO simply goes on the crap they're given to estimate. You know, ten years of revenue and six years of spend to arrive at a number the dems could use to sell this thing.

[SemiAuto]

Sometimes it IS less. Stranger things have happened.

The CBO has been wrong on their projections plenty of times. I find it funny how one minute you guys are dissing the CBO and the next, you're treating their projections as gospel...

It is true that it is just a projection but historically the CBO is overly optimistic. If Obamacare takes the path of previous government health programs, like medicare, then I'd expect the cost overruns to be massive.

[soulflower]

Where have I dissed or treated their projections as gospel.

The CBO simply goes on the crap they're given to estimate. You know, ten years of revenue and six years of spend to arrive at a number the dems could use to sell this thing.

Which is why I tend to take projections of more than two years with a grain of salt.

Sometimes they're high, and sometimes they're low. Rarely do they nail their projections...

[soulflower]

It is true that it is just a projection but historically the CBO is overly optimistic. If Obamacare takes the path of previous government health programs, like medicare, then I'd expect the cost overruns to be massive.

The key word is "If"

We don't know what will happen until it is actually implemented

[CajunRaven]

Which is why I tend to take projections of more than two years with a grain of salt.

Sometimes they're high, and sometimes they're low. Rarely do they nail their projections...

I think they're usually high and I agree, going out more than two years is iffy at best.

Which is why I think it is amusing both sides talk ten year projections when talking about deficit projections.

[bmore_ken]

Close some overseas bases, bring all the troops home, cut defense spending. makes more sense to me to spend money on American's health than unnecessary and superfluous military spending

[soulflower]

I think they're usually high and I agree, going out more than two years is iffy at best.

Which is why I think it is amusing both sides talk ten year projections when talking about deficit projections.

Both sides play politics with the CBO's projections and "baseline" budgets

[flyboy56]

Close some overseas bases, bring all the troops home, cut defense spending. makes more sense to me to spend money on American's health than unnecessary and superfluous military spending

Having bases in foreign countries helps their economies. Consider it foreign stimulus thanks to the American taxpayers.

[CajunRaven]

Close some overseas bases, bring all the troops home, cut defense spending. makes more sense to me to spend money on American's health than unnecessary and superfluous military spending

I agree on those items. However, health care costs still need to be dealt with if there is ever a chance to reign in the budget. ACA simply added folks to the roles, it did nothing to address the rapidly rising cost of health care.

Two of the items the administration focuses on, health care and education, particularily higher education, are the costs rising the quickest.

[SemiAuto]

The key word is "If"

We don't know what will happen until it is actually implemented

Maybe you're not too familiar with how a lot of government interventions in the past have turned out?