America's current outstanding debt has mounted to almost $12 Trillion, and might just go up, and the development has raised fresh questions and concerns about the cost of the major revamp that the Obama Administration is seeking to make to the country's current healthcare plan. But going by present trends, it does not seem that these doubts will lead to any shrinking of the legislation.
The nonpartisan record keeper of Federal expenditure, the Congressional Budget Office, has estimated that the healthcare plan's overhaul, for the first 10 years, is likely to draw the Government a bill of $849 Billion, and, over that period, the Senate's bill would also reduce budget deficient by about $130 Billion.
The healthcare bill, which is currently the top priority for the Obama Government, has been highly criticized by the Republicans, who have been quick to assert that the numbers shared by the CBO seem to "reflect timing gimmicks that skew the bill's costs" and that the price tag will be "closer to $2.5 trillion in the first decade the bill is fully implemented".
Adopted by the House on November 07, the heath care legislation looks at increasing the current reach out of Government healthcare plans to include millions more Americans. Also, it is being viewed as the administration's answer to private insurers who charge their customers very high premium amounts.