CBO revises the cost of ObamaCare from $900 billion to $1.76 TRILLION

We, and many others, predicted last year at this time that ObamaCare would cost more than Obama was saying that it would cost. Today, a year later, we learn from the Congressional Budget Office that indeed, the Democrats who pushed the legislation through Congress ("we have to pass the bill to find out what is in it") grossly understated the cost. The CBO now projects that it will not cost "around $900 billion" as Obama claimed, but rather $1.76 TRILLION.

The reasons a numerous, and we would suggest still understated. Chief among them is that more private employers are dropping their coverage, forcing workers to enter the government insurance programs, which are more expensive. Moreover, as a result of the dismal economy many employees have lost their jobs and hence their private insurance benefits and are now turning more to Medicaid. Click here to read more.