Tags: CBO | Obamacare | 1 | Trillion

CBO Says Obamacare May Exceed $1 Trillion

Wednesday, 12 May 2010 07:28 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
President Obama's new health-care law could potentially add at least $115 billion more to government health care spending over the next 10 years, if Congress approves all the additional spending called for in the legislation, congressional budget referees said Tuesday.

That would push the 10-year cost of the overhaul above $1 trillion -- an unofficial limit the Obama administration set early on.

The Congressional Budget Office said the added spending includes $10 billion to $20 billion in administrative costs to federal agencies carrying out the law, as well as $34 billion for community health centers and $39 billion for Native American health care.

The costs were not in earlier estimates by the budget office, although Republican lawmakers argued that they should have been. Part of the reason is technical: The additional spending is not mandatory, leaving Congress with discretion about whether to provide the funds in follow-on legislation.

"Congress does not always act on authorizations that are put into legislation by drafters," explained Kenneth Baer, a spokesman for the White House budget agency. "Authorizations for discretionary spending are not expenditures."

Congressional estimators also said they hadn't had enough time to run the numbers. Costs could go higher, because the legislation authorizes several programs without setting specific funding levels.

The health-care law provides coverage to more than 30 million people who are now uninsured, offering tax credits to help purchase health insurance through competitive markets that open for business in 2014. When Congress passed the bill in March, the CBO estimated that the coverage expansion would cost $938 billion over 10 years while reducing the federal deficit by $143 billion.

"If Congress were to approve all of this new discretionary funding authorized in the health-care bill, almost all of the administration's highly touted savings would be made null and void," said Jennifer Hing, spokeswoman for Republicans on the House Appropriations Committee.

But Baer said Obama would demand that added spending be offset with cuts in other domestic programs. "The president made clear he will enforce that with his veto pen," Baer said.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Report: White House Expects 'Surge' of Immigrants

Sunday, 19 Oct 2014 23:36 PM

The U.S. Citizenship and Immigration Services has published a draft solicitation for immigrant identification cards that . . .

Special Military Team to Give Medical Support for Ebola in US

Monday, 20 Oct 2014 13:30 PM

The Pentagon has ordered a 30-person military medical team to be on standby to support civilian health professionals in  . . .

INTEL: Freelance Rebels Hitting ISIS Unlikely to Change Ground War

Monday, 20 Oct 2014 13:04 PM

Ragtag rebels fighting independently of each other with hit-and-run tactics are harassing the Islamic State of Iraq and  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved