Obamacare to Cost $2.6 Trillion over First Decade

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A new government report found that Obamacare will be far more expensive than the president originally promised.

The Senate Budget Committee study says spending will come in at $2.6 trillion in the first full decade of the new law. President Obama said it would cost around $900 billion.

The report came as the Republican-controlled House voted Wednesday to fully repeal the law, continuing the ongoing debate over the best way to overhaul America's health care system.

The successful vote was expected and is the 31st time House Republicans voted to repeal the law in some form or another.

The latest attempt was in response to last month's Supreme Court ruling that declared the law constitutional.

"This is the law that the American people did not want when it was passed, and it remains a law that the American people do not want now," Rep. Eric Cantor, R-Va., said.

Democrats accused GOP leaders of playing politics and wasting time with the vote.

"Repeal and replace it," Democratic Rep. Steny Hoyer said. "For the 31st time, we have a repeal with no replacement."

Republicans still claim the law will cost jobs, raise taxes on 20 million Americans, and cripple America's health care system.

Senate Republicans want to hold a similar vote in the upper chamber. The White House has already vowed to veto any measure to repeal the current health care law.

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