Posted by Tina
The Congressional Budget Office spokesman says that the Democrats proposed health care plan will cost an estimated $1.5 trillion over 10 years. He then added, “We have not yet estimated the administrative costs to the federal government of implementing the specified policies, nor have we accounted for all of the proposal’s likely effects on spending for other federal programs.”
The CBO has very good reason to sound dire warning bells.
In 1966, the Office of Management and Budget put the total taxpayer costs for Medicare at $64 million. In 2011, Medicare costs are expected to reach nearly $500 billion.
Medicaid cost $770 million in 1966 but by 2011, that program will cost taxpayers an estimated $264 billion.
The Council for Affordable Health Insurance estimated that the administrative expenses of both programs last decade were 66 percent higher than those of private sector health insurance companies.
House Republicans on the Joint Economic Committee estimates that at least 31 new federal programs, agencies and commissions will be needed to oversee the program.
With so many people feeding off the government for both programs and jobs…WHERE WILL THE MONEY COME FROM TO PAY FOR IT?
Michelle Malkin provides more information in her excellent article, “Inside the Monstrous Obamacare Bureaucracy” – cnsnews.com