Newsmax: Report: Obamacare Hides $50 Billion in Annual Costs

[Patricia M. McBride]

The lies and deceptions just keep stacking up.  We are in big trouble if something doesn't change and soon!

Tuesday, 09 Aug 2011 01:18 PM

By Tom O'Connell

New research suggests that Obamacare comes with $50 billion in hidden annual costs, reports DailyCaller.com. The plan’s budget apparently does not take into account the insurance costs of workers’ spouses and children, meaning the Treasury could be tapped for hundreds of billions of dollars in the first decade the plan is instituted.

“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,” Richard Burkhauser told the Caller. Burkhauser, a Cornell University economist and professor, coauthored a report on the plan published by the National Bureau of Economic Research.

These unaccounted costs “will almost certainly add to the deficit, contrary to what the Congressional Budget Office and others have estimated,” Paul Winfree of the Heritage Foundation told the Caller.

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