The Republican Staff of the Senate Budget Committee has estimated the cost of the House passed Health Reform Bill to be nearly $1.7 trillion over the next 10 years. Though partially offset by the $628 billion in Medicare and Medicaid cuts, the bill would increase net federal spending by more than $1 trillion over that period.

When fully phased in over ten years (2014-2023), the bill would increase gross new federal spending by $3 trillion, explaining why 39 House Democrats joined the Republicans in opposing the bill.

Senator Judd Gregg (R-NH), ranking member of the Senate Budget Committee, voiced strong concerns about the detailed cost estimate, highlighting the “smoke and mirrors” game that the Democratic majority is playing by misleading how the gross new spending of $1.7 trillion is allocated over the next ten years. In fact, most of this new spending does not take place until 2014 and once fully phased in the total price tag exceeds $3 trillion!

Senator Gregg’s also raised concerns about the $628 billion cuts to “critical Medicare and Medicaid funding” and the $1.2 trillion increase in taxes and fees. Simply stated, the House Democratic bill will ring up to a total $3 trillion that neither we, nor future generations, can afford.