Here is a bit of news that is bound to piss Republicans off – Obamacare is costing much less than the CBO original predicted.
In January 2010, the Congressional Budget Office projected that the federal health spending would total a bit more than $11 trillion between 2011 and 2020.
Today, the Congressional Budget Office thinks it made a mistake. Costs are coming in lower-than-expected, and the CBO’s newest projections suggest the federal government will spend $600 billion less on health care than they predicted back in 2010.
So far, so good: projections are always wrong by at least a bit, and it’s nice to have the extra $600 billion in America’s pocket.
But here’s the incredible thing: as Paul Van de Water, a health care expert at the Center on Budget and Policy Priorities, points out, the January 2010 projection didn’t include any of the spending associated with Obamacare. The latest projections include all of the spending associated with Obamacare.
