It will cost the federal government – taxpayers, that is – $50,000 for every person who gets health insurance under the Obamacare law, the Congressional Budget Office revealed on Monday.
The number comes from figures buried in a 15-page section of the nonpartisan organization’s new ten-year budget outlook.
The best-case scenario described by the CBO would result in ‘between 24 million and 27 million’ fewer Americans being uninsured in 2025, compared to the year before the Affordable Care Act took effect.
Pulling that off will cost Uncle Sam about $1.35 trillion – or $50,000 per head.
The numbers are daunting: It will take $1.993 trillion, a number that looks like $1,993,000,000,000, to provide insurance subsidies to poor and middle-class Americans, and to pay for a massive expansion of Medicaid and CHIP (Children’s Health Insurance Program) costs.
Offsetting that massive outlay will be $643 billion in new taxes, penalties and fees related to the Obamacare law.
That revenue includes quickly escalating penalties – or ‘taxes,’ as the U.S. Supreme Court described them – on people who resist Washington’s command to buy medical insurance.
It also includes income from a controversial medical device tax, which some Republicans predict will be eliminated in the next two years.
If they’re right, Obamacare’s per-person cost would be even higher.
Those “quickly escalating penalties” would be the gigantic tax increase Barack Obama swore he’d never drop on you, Middle Class suckers. The total cost projections are right in line with what ObamaCare critics have predicted all along – not really a difficult prediction to make, because as ObamaCare architect Jonathan Gruber began boasting once the law was passed, its fraudulent cost projections were designed to fool the CBO into dramatically under-estimating the price tag.