CBO Update: Obamacare Will Cost $1.3T, Account for 53% of All Federal Spending — and 7 Million People Will Lose Insurance
President Obama’s health care law. We have more health care news, and every day we learn more about what an utter disaster this is, what an utter disaster awaits us. This is from the Washington Times, Stephen Dinan. “President Obama’s health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released [yesterday].” Folks, you know all this. I don’t know whether you remember it or not, but all during the debate and the run-up to Obamacare, I mentioned to you what the ultimate objective of it is.
That’s single-payer, government-run health care.
They know they can’t get there overnight by promoting that or putting that up for a vote, and Obama admitted this (we played the tape) to his buddies at the Service Employees International Union. What he told his union buddies back in 2007 — and we’ve aired this before. We aired it during the campaign. The low-information voters didn’t care. I don’t know that too many people did, either. I don’t think anybody really yet knows (chuckling) what is headed their way when this stuff hits. But the president said to the union buddies of his (paraphrased), “Look, we can’t do this overnight. It’s gonna take five, ten, maybe 15 years to ease everybody into this.”
One of the ways they’re gonna do it is simply make private health insurance, A, too expensive, and then, B, unavailable. So the only option people are going to have will be government-run options. Now, the CBO did say during the debate on health care that a lot of employers would be likely to drop coverage because of rising costs. They did say that. But they low balled the number, and when they put the number out (I forget what it was), I mentioned to you over and over again that they’re undershooting this, because their objective is much higher than what they’re admitting to here.