Thursday, August 27, 2009

Problem Number 2: Cost

According to the Congressional Budget Office, the estimated cost of implementing H.R. 3200 would be aproximately 1.042 Trillion dollars over the first 10 years. The report suggests that they would offset $219 billion of the cost through savings in other areas. Another $583 billion would come from increased revenue(i.e. taxes). So what about the remaining $239 billion? There is no plan to pay for that at all. It would simply be tacked on to our nations perpetually growing debt.

Oh yeah, I forgot to mention one small detail. The initial estimate of 1.042 trillion only covers the plan itself, but "does not include federal administrative costs or account for all effects on other federal programs," according to the CBO's report.

You can read the full report here:
http://www.cbo.gov/ftpdocs/104xx/doc10464/hr3200.pdf

Whether you like the idea of government run healthcare or not, I ask one simple question, "Where is a government with a current debt of 11.7 trillion dollars going to get this money?"

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