The latest Congressional Budget Office (CBO) report recently reported their findings on the cost of the Senator Ted Kennedy’s health care bill that would cover 16 million of the 46-47 million uninsured. Before going into the nitty-gritty of the report, the uninsured count includes illegal immigrants, those who are eligible for federal programs but have not signed up, and those who have the ability to pay for insurance but choose not to do so.
Back to the costs: The CBO has estimated that $1.3 trillion would be required over 10 years to cover just 16 million of the uninsured. This does not include the public option, the deal that President Barack Obama wants. The reality is that the public option would ultimately lead to a government-run, single-payer health care plan for America.
Based on these numbers, the cost to cover one of the uninsured is $8,125 per person per year. If the estimated population of the United States was put at 307 million, the end cost per year of ObamaCare would be just over $2.49 trillion per year.
Considering that there are over $77 trillion coming in liabilities in Medicare, Medicaid, Social Security, interest on the debt, and the debt itself, adding this will ultimately break the bank and kill any hope of economic freedom for Americans who will be enslaved by the government to cover the debt either by confiscation taxes on all Americans or by massive hyperinflation.
Congratulations, America. You’ve been had (for electing these weasels in Washington) and now you, your children, and your children's children are going to pay the consequences.