Today, President Obama admitted ObamaCare will increase health care costs. When asked by a reporter about bending the health care cost curve, President Obama said this about ObamaCare: “That's going to increase our costs. We knew that.”
In early March 2010 as he was trying to convince members of Congress to vote for his health care bill, President Obama claimed ObamaCare would reduce health care spending: “Finally, my proposal would bring down the cost of health care for millions—families, businesses, and the federal government.”
Yesterday, The Wall Street Journal reported that President Obama’s Centers for Medicare and Medicaid (CMS) expects health care costs and spending to increase even more than it originally estimated. A new report from the health care agency estimates that health care will grow 6.3 percent per year and total health care spending will reach $4.6 trillion—nearly 20 percent for gross domestic product by 2019.
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