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Government Study Confirms Obamacare Will Increase Health Care Spending

3:27 PM, Jul 28, 2011 • By MARK HEMINGWAY
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Despite many, many promises to the contrary, the Centers for Medicare and Medicaid Services (CMS) reports that Obamacare will pretty substantially increase out of control health care spending:

Total spending is projected to grow annually by 5.8 percent under Mr. Obama’s Affordable Care Act, according to a 10-year forecast by the Centers for Medicare and Medicaid Services released Thursday. Without the ACA, spending would grow at a slightly slower rate of 5.7 percent annually.

CMS officials attributed the growth to an expansion of the insured population. Under the plan, an estimated 23 million Americans are expected to obtain insurance in 2014, largely through state-based exchanges and expanded Medicaid eligibility.

The federal government is projected to spend 20 percent more on Medicaid, while spending on private health insurance is expected to rise by 9.4 percent.

Hmm. If this keeps up something tells me that the president won't be able to keep his promise that health care reform will lower the typical family's premiums by $2,500.

UPDATE — Conn Carroll has more at the Examiner:

National health spending is expected to grow by at least 8.3 percent in 2014 when much of President Obama’s health care law is implemented according to a new report by government analysts published in Health Affairs. After growing only 4.9 percent between 2011 and 2013, health spending will soar as millions Americans are either added onto Medicaid or start receiving subsidized insurance through the health exchanges.

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