Natalie Gonnella
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Nancy Pelosi famously said 'we have to pass the (health care) bill so that you can find out what is in it,' and according to the latest analysis on Obamacare costs, unfortunately the surprises just keep coming.
As Neil Munro notes in the Daily Caller today:
Federal payments required by President Barack Obama’s health care law are being understated by as much as $50 billion per year because official budget forecasts ignore the cost of insuring many employees’ spouses and children, according to a new analysis. The result could cost the U.S. Treasury hundreds of billions of dollars during the first ten years of the new health care law’s implementation.
“The Congressional Budget Office has never done a cost-estimate of this [because] they were expressly told to do their modeling on single [person] coverage,” said Richard Burkhauser in a telephone interview Monday...
Employees and employers can use the rules to their own advantage, he said. “A very large number of workers” will be able to apply for federal subsidies, “dramatically increasing the cost” of the law, he said.
Richard V. Burkhauser, Sean Lyons and Kosali I. Simon, who worked on the analysis, recently published a working paper on the topic at the National Bureau of Economic Research (available to view here).
WIth an unprecedented credit downgrade, soaring economic pessimism, and the latest news of $50 billion a year in ACA hidden costs, it's shaping up to be quite the week for the Obama Administration (and it's only Tuesday!)
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