Price tag: 3 Trillion

Senator Gregg (R-NH) has taken a look at what the House bill actually will cost. He finds:

Senator Gregg stated, “The CBO estimate released last night finally sheds light on the smoke and mirrors game the majority has been playing with the cost of their health care reform proposal. Over the first 10 years, this legislation builds in gross new spending of $1.7 trillion – and most of the new spending doesn’t even start until 2014. Once that spending is fully phased in, the House Democratic bill rings up at more than $3 trillion over ten years.

“Additionally, this bill cuts critical Medicare and Medicaid funding by $628 billion, accounts for nearly $1.2 trillion in tax and fee increases and will explode the scope of government by putting the nation’s health care system in the hands of Washington bureaucrats. The $3 trillion price tag defies common sense – we simply cannot add all this new spending to the government rolls and claim to control the deficit.

“If we continue to pile more and more debt on the next generation, they will never be able to get out from under it. The health care system needs reform, but this massive expansion of government, financed by our children and grandchildren, is the wrong way to proceed.".

Is it any wonder that Nancy Pelosi is pushing a vote before these numbers can be digested by the American people? For the record this bill raises taxes on the middle class, adds to the national debt and will force some health care plans out of the market. President Obama promised that he wouldn't sign legislation that included any of these provisions let alone all three. The time is rapidly approaching to see if he is a man of his word. Don't bet on it.