CBO: Healthcare bill will cost over $1 trillion

And that’s without the public option.

The Congressional Budget Office (CBO) released a report late Monday estimating the cost of a leading healthcare reform proposal at more than $1 trillion, but that figure looked only at a portion of the bill.

The analysis falls just within the most expensive cost scenario sketched out by Democratic leaders in recent days, but does not include an estimate for a highly contentious government-run insurance plan that would compete with private insurers.

Senate Republicans are sure to use the data as ammunition to oppose expensive Democratic plans to subsidize healthcare for low-income families, as well as what is not included in the estimate.

The CBO report raises doubt as to whether Democrats will be able to keep the cost of healthcare reform under $1 trillion, as leaders have predicted.

The analysis estimated the net impact of a bill sponsored by Sen. Edward Kennedy (D-Mass.) at $1.04 trillion over the decade spanning 2010 to 2019.

But CBO officials warned the cost of the Democratic plan would likely increase if lawmakers expanded the eligibility of Medicaid or otherwise subsidized health insurance for people earning below 150 percent of the federal poverty level, or $22,000 for a family of four.

Keep in mind that CBO estimates are historically low and we all know how the Democrats plan to pay for this.

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One thought on “CBO: Healthcare bill will cost over $1 trillion

  1. Obama will leave this nation virtually unrecognizable after he is finished. He is a true believer, unfortunately his beliefs are all wrong.

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