{"id":13298,"date":"2013-02-06T17:44:37","date_gmt":"2013-02-06T17:44:37","guid":{"rendered":""},"modified":"2013-02-06T17:44:37","modified_gmt":"2013-02-06T17:44:37","slug":"cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/","title":{"rendered":"CBO Update: Obamacare Will Cost $1.3T, Account for 53% of All Federal Spending — and 7 Million People Will Lose Insurance"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: President Obama\u2019s health care law. We have more health care news, and every day we learn more about what an utter disaster this is, what an utter disaster awaits us. This is from the Washington Times, Stephen Dinan. “President Obama\u2019s health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released [yesterday].” Folks, you know all this. I don\u2019t know whether you remember it or not, but all during the debate and the run-up to Obamacare, I mentioned to you what the ultimate objective of it is.<\/p>\n

That\u2019s single-payer, government-run health care.<\/p>\n

They know they can\u2019t get there overnight by promoting that or putting that up for a vote, and Obama admitted this (we played the tape) to his buddies at the Service Employees International Union. What he told his union buddies back in 2007 — and we\u2019ve aired this before. We aired it during the campaign. The low-information voters didn\u2019t care. I don\u2019t know that too many people did, either. I don\u2019t think anybody really yet knows (chuckling) what is headed their way when this stuff hits. But the president said to the union buddies of his (paraphrased), “Look, we can\u2019t do this overnight. It\u2019s gonna take five, ten, maybe 15 years to ease everybody into this.”<\/p>\n

<\/p>\n

One of the ways they\u2019re gonna do it is simply make private health insurance, A, too expensive, and then, B, unavailable. So the only option people are going to have will be government-run options. Now, the CBO did say during the debate on health care that a lot of employers would be likely to drop coverage because of rising costs. They did say that. But they low balled the number, and when they put the number out (I forget what it was), I mentioned to you over and over again that they\u2019re undershooting this, because their objective is much higher than what they\u2019re admitting to here.<\/p>\n

So now that it\u2019s implemented, now that the Supreme Court has given its stamp of approval, now that it can\u2019t be unraveled, we get information that\u2019s closer to the truth. Now seven million people are gonna lose health insurance on the job simply because it\u2019s going to become so expensive that employers aren\u2019t gonna be able to afford it, and we\u2019ve had a number of small business owners call here and say this very thing. They\u2019re already laying people off. People are already changing, businesses are already changing their structure so that they\u2019ve got fewer than 50 full timers. They\u2019re cutting back hours so that more people are on part time rather than full time.<\/p>\n

They\u2019re already making adjustments to avoid the coming high costs. So the CBO now says that “President Obama\u2019s health care law will push 7 million people out of their job-based insurance coverage,” and it\u2019s gonna be much higher than that when it\u2019s all said and done. It\u2019s gonna be everybody when it\u2019s all said and done. For all practical purposes, employer-based health insurance as a benefit ten years from is now not gonna exist, if everything happens the way Obama has it designed. Obama and the Democrats. That is the purpose. So there\u2019s that. Now, those seven million don\u2019t know who they are yet.<\/p>\n

<\/p>\n

So when you hear the news and you hear seven million people are going to lose their health insurance, you think, “Ah, it\u2019s probably not gonna be me. I\u2019ll forget about it. It isn\u2019t any big deal.” Nobody\u2019s gonna be concerned \u2019til it happens to them and then you\u2019re gonna hear them call here, and they\u2019re gonna start going, “What is this? I just lost my health insurance! My employer just canceled it.” I\u2019ll say, “Yeah, I told you that five years ago.” The CBO has also put out an additional set of numbers. “The Congressional Budget Office (CBO) estimated Tuesday that President Obama\u00c2\u2019s signature health care law will cost about $1.3 trillion over the next 10 years.”<\/p>\n

Now, when this thing first was proposed, it was under a trillion, if you recall, and they kept it under a trillion. That was the magic number for everybody in the public to think it wasn\u2019t gonna cost any additional money. The Iraq war, that cost a trillion dollars. They said, “Well, we\u2019re gonna end the Iraq war!” So lo and behold, we got a trillion dollars to spend! “Look at that, Mabel. We\u2019re gonna save a trillion bucks! So we\u2019ll transfer that spending to health care and the deficit doesn\u2019t go up. No new spending. It\u2019s magic!”<\/p>\n

That never was true. The Congressional Budget Office estimates now that Obamacare will cost $1.3 trillion. By the way, another way they kept this number low, remember, is it\u2019s a ten-year plan, and the taxes start immediately, but the benefits (the spending) don\u2019t kick in for three or four years. So that\u2019s another way they kept the number artificially low. Health care benefits don\u2019t kick in until 2014, but the taxes started immediately. They\u2019re already being collected now. All kinds of games were played. But now?<\/p>\n

Now that nothing can be done about it.<\/p>\n

So now the truth is slowly trickling out.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Now, on health care law: Actually, the original number was $900 billion, and the Iraq war cost was a trillion. We were actually gonna “save” $100 billion by doing Obamacare. Now they\u2019re saying that the overall ten-year cost is $1.3 trillion, and that is going to escalate even more. Now, here\u2019s a piece in TheHill.com. I\u2019m not gonna read a bunch of excerpts, but I\u2019ll just tell you this. If you read to the middle of this piece, you\u2019ll find all you need to know about this supposedly “nonpartisan” CBO.<\/p>\n

Here\u2019s what it says: “The CBO has concluded that health care reform, in spite of its price tag, will ultimately reduce the deficit because of revenue-raisers within the bill.”<\/p>\n

Whereas, “A House GOP bill to repeal the law would raise the deficit by $109 billion over about 10 years, the CBO said in 2012.” You see? The cost of Obamacare, $1.3 trillion, will lower the deficit. But doing away with it would raise the deficit. I kid you not. That\u2019s what passes for “nonpartisanship” from the Congressional Budget Office, and it\u2019s what passes for news. So we\u2019re gonna spend $1.3 trillion that we don\u2019t have, and somehow we\u2019re gonna lower the deficit.<\/p>\n

<\/p>\n

If we had repealed it (i.e., not spent the $1.3 trillion), we would have raised the deficit. I kid you not. Don\u2019t doubt me. That is what it says. Now, it was just a couple of months ago that CBO came out and estimated Obamacare to cost $1.1 trillion. Now they\u2019ve found an additional $200 billion in costs that they had overlooked — and I\u2019m telling you, the number is gonna continue it to rise. We\u2019re not through with CBO numbers. “According to projections from [this same report by the] Congressional Budget Office (CBO), entitlements and Obamacare spending will comprise 53% of all federal spending over the coming decade, totaling $24.9 trillion.”<\/p>\n

Fifty-three percent!<\/p>\n

Is there an end to this?<\/p>\n

Is there ever a tipping point on Obama\u2019s spending?<\/p>\n

Is there ever a point reached where it just can\u2019t be sustained?<\/p>\n

That has to happen. At some point, it has to happen. Even the printing of money or the borrowing of money will not offset this. The numbers don\u2019t lie. The mathematics is what it is. “In its updated Budget and Economic Outlook report released on Tuesday, the CBO projects that Social Security will account for $11.149 trillion in spending from 2014 to 2023 while federal health care entitlements, including Medicare, Medicaid, and Obamacare, will spend $13.85 trillion.”<\/p>\n

Then you add up all the other entitlements, and you get to 53% of federal spending — which, by definition, can\u2019t be touched. It can be, but, by definition an “entitlement” means it can\u2019t be touched. You\u2019d have to write a new law saying you\u2019re doing away with Social Security. Of course politically you couldn\u2019t do that. “In fact, over the next decade, the federal government will collect only $2.6 trillion in dedicated revenues for its…”<\/p>\n

Folks, I want you to sit down for this. Well, no, don\u2019t sit down. This is just a stunning number, and this is why this is unsustainable, and this is why at some point we\u2019re gonna collapse. Over the next decade, we are going to spend $31.6 trillion in the entitlements and Obamacare. Over the same ten years, the government will collect only $2.6 trillion dollars in dedicated revenue for that spending. We\u2019re gonna spend $31.6 trillion and collect $2.6 trillion to pay for it.<\/p>\n

That, right there, is a $29 trillion deficit just over the next ten years.<\/p>\n

And, of course, we\u2019re not through spending.<\/p>\n

This administration nowhere near wrapping it up on spending.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: We\u2019ll start with Vinny in Bristol, Rhode Island. Hey, Vinny, welcome to the EIB Network. Great to have you here, sir.<\/p>\n

CALLER: Hey, thank you very much, Rush. This is like the highlight of my life.<\/p>\n

RUSH: You bet.<\/p>\n

<\/p>\n

CALLER: Snerdley\u2019s a peach, I tell you. Look, my point is about income based subsidies when you were talking yesterday about our neighbors subsidizing the people who are, say, 200% below poverty level. Those neighbors, I\u2019m concerned that they will be trying to modify my behavior or our behavior through Obamacare, for any of us that do anything that\u2019s risky that would cause our premiums to be artificially higher. For instance, smoking under Obamacare causes you to pay a higher premium. So my neighbors that would be contributing, whether directly or indirectly in the system, would be complaining, “Why should I subsidize this guy? He\u2019s smoker, you know, he\u2019s overweight.”<\/p>\n

RUSH: Look, I don\u2019t think you got anything to worry about, and I\u2019m serious. I don\u2019t think the people you\u2019re talking about are going to think they are subsidizing it. They\u2019re going to think that the rich are paying for it all.<\/p>\n

CALLER: Wow.<\/p>\n

RUSH: They\u2019re not gonna know. They\u2019re not gonna know what hit \u2019em. Folks, now, I gotta set the table. What you\u2019re talking about, because you\u2019re bringing up something from yesterday and people might not know what you\u2019re referring to. Yesterday, ladies and gentlemen, there was a story about the minimum cost — we\u2019ve done it twice now. The IRS has stated that the lowest available health care plan, the bronze health care plan in Obamacare, will cost about $4,000 a person, so that\u2019s $16,000 for a family of four. That\u2019s the cheapest. That\u2019s the IRS that put this out. That\u2019s the cheapest cost for the cheapest health care plan, once Obamacare is fully implemented. <\/p>\n

<\/p>\n

Now, there are subsidies for people. I mean, if you\u2019re making 40 grand, you don\u2019t have that kind of money. So if you earn less than 200% of the poverty level, then you qualify for a subsidy in that case, in which case I said, your neighbors are going to be paying, in part, for your health care. So right now, 200% of the poverty rate is about 78, $75,000 a year. Let\u2019s go with 75. So if you make less than $75,000 a year, you will qualify for subsidies for Obamacare health insurance premiums. I don\u2019t know how much. I don\u2019t know how much of the $4,000 per person will be subsidized, but some of it will, and I just made it statement that your neighbors are gonna be paying for it. And what I mean by that is, all of us, the taxpayers. <\/p>\n

Where does money come from in this country? If something is subsidized, Obama doesn\u2019t have a stash, until he takes it from somebody or prints it or borrows it. The government does not produce wealth. All the government does actually is destroy it or rearrange it, but they don\u2019t produce anything. So a family making less than 75 grand will be subsidized. Somebody else will help them pay the $16,000 a year. Well, the somebody else is their neighbors. And so Vinny here is thinking of neighbor as the guy living across the street. And the guy across the street will find out he\u2019s paying for you, and if you smoke he\u2019s gonna be ticked off at you, so he\u2019s gonna come along and make you change the way you live. My point to Vinny is, the guy across the street is not gonna put two and two together and get four. He\u2019s not gonna think that he\u2019s paying for it. He\u2019s gonna be told that the rich are paying for this, people like Phil Mickelson.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: No, folks, to answer your question, I don\u2019t know how large these subsidies are gonna be. I don\u2019t know how much of that $20,000 the rest of us are gonna be paying. Nobody can find out. I\u2019ve been looking for months trying to get my arms around the subsidies for people who are not gonna pay all of their premiums, and I can\u2019t find it. I don\u2019t know what it\u2019s gonna be. That is yet to be disclosed. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Here is Jeff in Bloomington, Illinois. It\u2019s great to have you on the program. Hello.<\/p>\n

CALLER: Great. It\u2019s an honor to talk to you, Rush.<\/p>\n

RUSH: Thank you, sir.<\/p>\n

CALLER: Concerning Obamacare, who\u2019s gonna pay for the people who are on unemployment or don\u2019t have jobs\/ have fallen out of the job market altogether, disability, and the illegals? Who are gonna pay for those people to have health insurance?<\/p>\n

RUSH: You and I.<\/p>\n

CALLER: Ugh.<\/p>\n

RUSH: Look, the simple answer, Jeff, is that you and I are paying for everything. There\u2019s no third-party paying for this stuff. Obama\u2019s not paying for it. The government doesn\u2019t have its own money that doesn\u2019t first come from us or is not first borrowed or printed. So the people who earn income are going to be paying for it. The people who pay taxes are going to be paying for all those others that you mentioned.<\/p>\n

CALLER: So the penalties…? You know, if we don\u2019t get it, we have to pay a penalty. They won\u2019t have to pay that either, you think?<\/p>\n

RUSH: Well, let me put it this way. I don\u2019t know for a fact. But my assumption is that, given Obama\u2019s proclivities, I don\u2019t think he intends to put in jail or fine his number one constituents, and that is the poor and the out of work.<\/p>\n

CALLER: That\u2019s true.<\/p>\n

RUSH: I think if anybody is gonna be penalized under Obama, it\u2019s those of us who work. Now, I don\u2019t know the machinations here. If somebody is unemployed or on food stamps or whatever and here comes the IRS saying, “Okay, you owe a fine,” and they say, “Wait a minute! I don\u2019t have a job,” I don\u2019t know how that\u2019s gonna work. I\u2019m sure for the poor, the penalties are waived, but I don\u2019t know at what level of poverty they\u2019re waived. I don\u2019t know what “poor” means in terms of waiving the fines.<\/p>\n

CALLER: Right.<\/p>\n

RUSH: But you can be darn sure that Obama\u2019s constituents are not gonna be hit up. They\u2019re gonna be the beneficiaries. You know that as well as I do. That\u2019s the whole objective of this.<\/p>\n

CALLER: Right. That\u2019s why they voted for him, and as conservatives in the middle of Illinois (chuckling), as few of us as there are, we really didn\u2019t have a say in it. So…<\/p>\n

RUSH: It really can be nothing else. What are the unemployed paying today? I mean, when Obama comes forth and explains his latest policy, who\u2019s he aiming at? Who is it “not paying their fair share”? Who is it that\u2019s denying everybody else a fair shake? Who is it that\u2019s got to come up with a little more? Who is it that has more than they need? People who are working. I mean, how could it be otherwise? Do you think Obama\u2019s gonna go out there and fine the poor? He\u2019s gonna fine people that don\u2019t have jobs? Not unless they do videos. If they don\u2019t do that, they\u2019re in the clear.<\/p>\n

It\u2019s the working people, to whatever degree, who are gonna pay. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: President Obama\u2019s health care law. We have more health care news, and every day we learn more about what an utter disaster this is, what an utter disaster awaits us. 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and 7 Million People Will Lose Insurance - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/","twitter_card":"summary_large_image","twitter_title":"CBO Update: Obamacare Will Cost $1.3T, Account for 53% of All Federal Spending - and 7 Million People Will Lose Insurance - The Rush Limbaugh Show","twitter_description":"RUSH: President Obama\u2019s health care law. We have more health care news, and every day we learn more about what an utter disaster this is, what an utter disaster awaits us. This is from the Washington Times, Stephen Dinan. “President Obama\u2019s health care law will push 7 million people out of their job-based insurance coverage […]","twitter_image":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg","twitter_misc":{"Written by":"GeorgePrayias","Est. reading time":"13 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/#article","isPartOf":{"@id":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/"},"author":{"name":"GeorgePrayias","@id":"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/9a33276eb9dc5b6d3f8218957f30e6b4"},"headline":"CBO Update: Obamacare Will Cost $1.3T, Account for 53% of All Federal Spending — and 7 Million People Will Lose Insurance","datePublished":"2013-02-06T17:44:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/"},"wordCount":2845,"commentCount":0,"image":{"@id":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/#primaryimage"},"thumbnailUrl":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/","url":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/02\/06\/cbo_update_obamacare_will_cost_1_3t_account_for_53_of_all_federal_spending_and_7_million_people_will_lose_insurance\/","name":"CBO Update: Obamacare Will Cost $1.3T, Account for 53% of All Federal Spending - 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