Let’s Not Forget Obamacare Taxes and Spending
Heritage Foundation research associate Alyene Senger explains in her most recent report that “when rational assumptions are made and budget gimmicks are omitted, the law is far from paid for, likely increasing future budget deficits and further burdening current and future taxpayers.”
Here are some key numbers and figures to remember:
$1.8 TRILLION: The new spending for Obamacare’s massive Medicaid expansion and new government subsidies will cost taxpayers nearly $1.8 trillionfrom 2014 to 2023.
138 PERCENT: Beginning in 2014, Obamaare expands Medicaid eligibility to all individuals earning up to 138 percent of the federal poverty level (FPL) in any state that chooses to accept this expansion. That news would be slightly less grim if Medicaid weren’t such a monumental failure of a program. Indeed,Medicaid coverage often produces worse results than having no coverage at all; the Wall Street Journal noted, “Dozens of recent medical studies show that Medicaid patients suffer for it. In some cases, they’d do just as well without health insurance.”)
400 PERCENT: Obamacare creates subsidies for individuals and families earning between 100 and 400 percent of the FPL.
19 MILLION: By 2023, 19 million people will receive the new subsidies mentioned above, costing taxpayers $1 trillion from 2014 to 2023.
$6.2 TRILLION. Obamacare will cost taxpayers an additional $6.2 trillion over the next 75 years.