A Trip Down Memory Lane


Saturday July 21st, 2012   •   Posted by Craig Eyermann at 10:42am PST   •  

Remember when the projected additional cost of the Patient Protection and Affordable Care Act (aka “ObamaCare”) to U.S. taxpayers over a ten year period of time was going to be less than 1 trillion dollars?

Let’s just say that once it’s fully implemented, it’s going to be a bit over budget. By about 190%:

Cost of President's Health Law Rises with Each New Estimate - Source: Weekly Standard

The latest estimate, as the chart details, is that Obamacare will cost $2.6 trillion dollars in its first real decade. The bill does not fully go into effect until 2014, therefore the estimate begins with that year.

As the law currently stands, the full ten year cost of ObamaCare will be almost three times its promised cost. And since the U.S. government is already borrowing money raiding trust funds to pay for other spending it cannot really afford, Americans should expect more of the same while the law remains in effect.

Featured Image:
Source: Federal Highway Administration



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