Massive $17 Trillion Hole Found In Obamacare

Zero Hedge
March 31, 2012

Two years ago, when introducing then promptly enacting Obamacare, the president stated that healthcare law reform would not cost a penny over $1 trillion ($900 billion to be precise), and that it would not add ‘one dime’ to the debt.


It appears that this estimate may have been slightly optimistic… by a factor of 1700%. Because coincident with the recent Supreme Court debacle, in which a constitutional law president may be about to find that his magnum opus law is, in fact, unconstitutional, someone actually read the whole thing cover to cover, instead of merely relying on the CBO’s, pardon Morgan Stanley and Goldman Sachs’, funding estimates. That someone is Republican Jeff Sessions who after actually running the numbers has uncovered that the true long-term funding gap is a mind-boggling $17 trillion, just a tad more than the original sub $1 trillion forecast. This latest revelation means that total underfunded US welfare liabilities: Medicare, Medicaid and social security now amount to $99 trillion! Add to this total US debt which in 2 months will be $16 trillion, and one can see why Japan, which is about to breach 1 quadrillion in total debt (yen, but who’s counting), may want to start looking in the rearview mirror for up and comer competitors. And while Obama may have been taking creative license with a number that is greater than total US GDP, he was most certainly correct when saying that Obamacare would not add a penny to US debt. Because the second the US government comes to market to fund a truetotal debt/GDP ratio of 750%, it is game over, and the Fed will have its hands full selling Treasury puts every waking nanosecond to have any time left for the daily 3pm stock market ramp.

What is it that brought about this discovery of some inverse cash under the rug? The Daily Callerexplains.

The hidden shortfall between new spending and new taxes was revealed just after Supreme Court justices grilled the law’s supporters about its compliance with the Constitution’s limits on government activity. If the court doesn’t strike down the law, it will force taxpayers find another $17 trillion to pay for the increased spending.

The $17 trillion in extra promises was revealed by an analysis of the law’s long-term requirements. The additional obligations, when combined with existing Medicare and Medicaid funding shortfalls, leaves taxpayers on the hook for an extra $82 trillion in health care obligations over the next 75 years.

Regular readers are well aware that when it comes to US insolvency, the underfunded Americanwelfare statewhose obligations now amount to $100 trillion!, is the primary cause of this country’s ultimate downfall. This latest revelation only makes it that much more certain, and likely, faster.

Currently, the Social Security system is $7 trillion in debt over the next 75 years, according to the Government Accountability Office.

Also, Medicare will eat up $38 trillion in future taxes, and Medicaid will consume another $2o trillion of the taxpayer’s wealth, according to estimates prepared by the actuarial office at the Centers for Medicare and Medicaid Services.

The short-term cost of the Obamacare law is $2.6 trillion, almost triple the $900 billion cost promised by Obama and his Democratic allies, said Sessions.

The extra $17 trillion gap was discovered by applying standard federal estimates and models to the law’s spending obligations, Sessions said.

For example, Session’s examination of the health care law’s “premium support” program shows a funding gap $12 billion wider that predicted.

The same review also showed the law added another $5 trillion in unfunded obligations for the Medicaid program.

Of course, that this “discovery” happened two years after the law was originally proposed and enacted merely once again confirms that other banana republics have nothing on the US, and that America continues to live in a state of sheer chaos when it comes to understanding that every use of funds must ultimately have a source as well.

Jeff Sessions’ full presentation.

Views: 62

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post
3 hours ago
cheeki kea posted a photo
10 hours ago
cheeki kea commented on Doc Vega's blog post Grooming the New Generation of Assassins
"It's a distressing state of affairs when evil leftists hardwire impressionable students and…"
11 hours ago
Doc Vega commented on Doc Vega's blog post This Memorable Anthem Given by Nick Freitas Hit the Nail on the Head Please Listen!
"Burbia Charlie Kirk's wife is a real firebrand! God bless that poor woman! "
yesterday
Doc Vega commented on Doc Vega's blog post This Memorable Anthem Given by Nick Freitas Hit the Nail on the Head Please Listen!
"Burbia thanks for the videos! "
yesterday
Doc Vega posted blog posts
yesterday
Burbia commented on tjdavis's video
Thumbnail

Charlie Kirk: Grief And Outrage From Turning Point USA in Phoenix

"Early reports said a.second shooter was there. Talk of Dischord chats. Peyton Gendron was coerced…"
yesterday
tjdavis posted a video

America In Crisis: Illegals and Drug Smugglers Have Us Beat

An inside look at how bad the situation is at the Arizona/Mexico border. This exclusive tour with retired Arizona Sheriff Mark Lamb reveals just how bad thin...
yesterday
Burbia posted a video

Sam Hyde Show: This is You

support the show: https://www.mde.tv/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬🔥 BUY EXTREME PEACE on MDE.TV 🔥https://www.mde.tv/series/extreme-peace▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬...
yesterday
Burbia commented on Sandy's photo
yesterday
Burbia commented on Sandy's photo
yesterday
Sandy posted a photo
Sunday
tjdavis posted a video

Charlie Kirk: Grief And Outrage From Turning Point USA in Phoenix

We went to Charlie Kirk's Turning Point USA headquarters in Phoenix to talk with people who were there to pay their respects.►Join my community to get exclus...
Saturday
Doc Vega posted blog posts
Saturday
Burbia commented on Doc Vega's blog post This Memorable Anthem Given by Nick Freitas Hit the Nail on the Head Please Listen!
Saturday
Doc Vega posted blog posts
Friday
Doc Vega commented on Doc Vega's blog post A Few More Rats in Your Skull Concerning Charlie and the Rampaging Left
"cheeki kea, Yes that was released on to book sites 19 hours before the tragic event and also there…"
Friday
Burbia commented on Sandy's video
Friday
Sandy posted a video

Charlie Kirk Was Terrified Of Israel

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.
Friday
Sandy posted a photo
Friday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted