Nitwitery Warning: Math Quest and ObamaCare. Ops! We Spent the Savings Twice.

“Under Obamacare, Medicare cut's [$500 billion] is transferred into Medicaid to pay for the expansion of uninsured coverage outlined above--but, it is also simultaneously credited as savings to the [Medicare] trust fund.

 The CBO and Medicare's own economic estimators already said the government can't spend the same money twice.”

“…the [independent] public trustee overseeing Medicare and Social Security finances, analyzed Obamacare, and found that it will add at least $340 billion to the national deficit--citing federal accounting practices that have obscured the true fiscal impact of ObamaCare. (1) (2) (3) (4)

Hold on, the CBO said last month ObamaCare would cost 1.76 trillion rather than $940 billion:

“President Obama's national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law.” (5)

Then $940 billion becomes $1.76 trillion last month which now becomes $2.1 trillion this month.

Notes:

(1)    Public Trustee Report: Obamacare deficit reduction mostly accounting fraud, Examiner.com, 04/10/2012 http://www.examiner.com/political-buzz-in-national/public-trustee-report-obamacare-deficit-reduction-mostly-accounting-fraud

(2)    New study shows ObamaCare increases deficit, knocking down president's vow, Foxnews.com, 04/10/2012 http://www.foxnews.com/politics/2012/04/09/study-claims-obamas-health-care-law-would-raise-deficit/#ixzz1res8ro73

(3)    HHS Secretary Sebelius admits to double-counting in Obamacare budget, Daily Caller, 03/04/2011 http://dailycaller.com/2011/03/04/hhs-secretary-sebelius-admits-to-double-counting-in-obamacare-budget/

(4)    America Crack Open Your Piggy Banks – Obamacare Costs Revealed, 60plus.org, 04/10/2012, http://60plus.org/america-crack-open-your-piggy-banks-obamacare-costs-revealed/

(5)    CBO: Obamacare to cost $1.76 trillion over 10 yrs, The Washington Examiner, 03/13/2012, http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/cbo-obamacare-cost-176-trillion-over-10-yrs/425831