Statement from Congressman Mike Fitzpatrick on the latest CBO Cost Projections of the Patient Protection & Affordable Care Act
LANGHORNE, Pa – Congressman Fitzpatrick issued the following statement today on the revised Congressional Budget Office projection of the 10-year cost of President Obama's Patient Protection and Affordable Care Act of 2010.
"The non-partisan Congressional Budget Office (CBO) released a report which projects the 10-year cost of the President's healthcare reform legislation to be nearly double what was projected when the President signed it into law in March of 2010. This report outlines the true costs of the Affordable Care Act despite efforts by the administration to hide these figures from the public."
"President Obama's healthcare reform represents a missed opportunity to truly address the driving forces behind the rising costs of healthcare in the United States. In order to make healthcare more affordable and more accessible to the American people, we must enact real reforms such as the expansion health savings accounts for individuals, allowing small businesses to join together in Association Health Plans, allowing consumers to purchase health insurance across state lines, and passing meaningful tort reform to end the practice of defensive medicine."
"We must work to lower health insurance premiums and provide increased access to insurance. But we must do so using common sense free market reforms - not by putting the federal government between you and your doctor."
The CBO projections show that President Obama's healthcare law will cost $1.76 trillion over ten years, not $940 billion as originally projected.