Two-point-six trillion dollars

Yes, $2.6 Trillion! A Closer Look at the Full 10 Years of Spending in the House Health Bill

The true cost is not the net spending on only the coverage related provisions ($897 billion) but rather the total gross spending for the coverage provisions ($1.05 trillion) as well as any additional spending in the bill (approximately $217 billion). That would raise the plan’s price tag to about $1.5 trillion when including the roughly $210 billion cost of the “doc fix” is included. The “doc fix” refers to the undoing of the flawed Medicare payment update formula, which Congress created but has routinely stopped from being enforced. Under current law, that formula would result in a 20 percent reduction in doctors’ pay under the Medicare program.

The real story about the true cost is even more dramatic. The bill is front loaded with taxes, and back-loaded with spending in the first ten years. Since most of the spending in the House bill does not fully go into effect until 2014, the 10-year cost estimates based on the preliminary CBO score (for years 2010 through 2019) only account for six years of new spending under the plan. Once it is implemented (over a full 10-year window from years 2014 to 2023), the giant House health bill carries a price tag of $2.4 trillion, or as much as $2.6 trillion with the “doc fix.”

Or, as Doctor Zero puts it,

House bill transitions from front-loaded tax hikes to full Daffy Duck freak-out spending in 2014

PelosiCare’s price controls will bankrupt health insurers in one year (h/t Larwyin).

What it means.

You can read the full 2,000 page bill here.

UPDATE:
The Health Care Bill in Ninety Seconds

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5 Responses to “Two-point-six trillion dollars”

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  4. MUST READ: How Nancy Pelosi plans to bankrupt private medical insurers « Wintery Knight Says:

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  5. Obloodyhell Says:

    It’s a friggin’ slush fund like social security….

    Gosh, gee — Whoodathunkit?