Saturday, November 7, 2009

$2.6 trillion price tag for House health care bill!

From the Heritage Foundation:
The [House health care] 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.”
UPDATE -This just in:
The House of Representatives Saturday passed, by a vote of 220 to 215, historic health care legislation that would require virtually all Americans to obtain health insurance and create a government-run health insurance plan to help them do so.
Just 1 republican voted for the bill. The Senate must also vote on its version of a bill, which is not expected until December at the earliest. President Obama later praised the passage of the $2.6 trillion bill saying, "it is legislation that is fully paid for and will reduce our long-term federal deficit."...

Ahem......