Obama Threatens Veto of Obamacare as Cost Estimates Soar Above $1 Trillion

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Reacting to the surprise announcement that congressional budget referees now predict healthcare reform could top $1 trillion, the Obama administration threatened Wednesday to veto parts of its own healthcare bill. The politically explosive revelation, which is likely to give new impetus to the GOP’s repeal movement, came after the Congressional Budget Office (CBO) said the law potentially could add at least $115 billion to government healthcare spending over the next 10 years. This comes after a separate Medicare office report found that the bill would raise spending by about 1 percent during the next decade. Still the Office of Management and Budget (OMB) stood by the administration's original claims that the law would reduce the deficit. Obama tasked Congress with making that happen through tax increases or spending cuts. If that doesn’t happen, the administration is vowing to make program cuts itself. OMB spokesman Kenneth Baer said Wednesday that the healthcare law "will reduce the deficit by more than $100 billion in the first decade, and that will not change unless Congress acts to change it. If these authorizations are funded, they must be offset somewhere else in the discretionary budget. “The President has called for a non-security discretionary spending freeze, and he will enforce that with his veto pen." House Minority Leader John Boehner, R-Ohio, said the new CBO analysis "provides ample cause for alarm," according to a report on ABC News. "This comes just weeks after the Obama administration itself released an analysis confirming that the new law actually increases Americans’ healthcare costs," Boehner said. "The American people wanted one thing above all from healthcare reform: lower costs, which Washington Democrats promised, but they did not deliver. These revelations widen the serious credibility gap President Obama is facing." Meanwhile, Jennifer Hing, spokeswoman for Republicans on the House Appropriations Committee, told Fox News: "If Congress were to approve all of this new discretionary funding authorized in the healthcare bill, almost all of the administration's highly touted savings would be made null and void." If Congress approves all the additional spending called for in the legislation, it would push the 10-year cost of the overhaul above $1 trillion — an unofficial limit the Obama administration set early on. Could someone explain to me just what this means? Am I correct in thinking that the Obama Care Health Bill which was forced upon us now Obama is saying... oops on some parts of it I made a big boo boo?