The Weekly Standard has an article with some interesting statistics on the so-called Affordable Care Act. In the area of covering the uninsured it is definitely experiencing shrinkage, while when it comes to costs the number keeps getting bigger. As reported by the Standard:
- In March 2010..the Congressional Budget Office (CBO) projected that Obamacare would cost $938 billion over a decade and would reduce the number of uninsured people by 19 million as of 2014 (with a reduction of 1 million prior to 2014 and 18 million in 2014 alone).
- Two years later…CBO…projected that Obamacare would reduce the number of uninsured by 14 million as of 2014 (2 million before 2014 and 12 million in 2014 alone), at a 10-year cost of $1.677 trillion…This February, the CBO projected that Obamacare’s 10-year cost would eclipse $2 trillion.
- In February of this year, the CBO projected that Obamacare would reduce the number of uninsured by 13 million as of 2014. In April, the CBO had seen enough of the Obama administration’s skillful rollout of Obamacare to reduce that estimate to 12 million.
- Now the Urban Institute finds that Obamacare has actually reduced the number of uninsured adults by 8 million since the rollout began last fall. (Gallup shows a similar number.) That’s far short of the number of newly insured that the CBO projected in April of this year, in February of this year, or in 2012 — and it’s less than half the tally the American people were told Obamacare would hit when they opposed it in 2010.