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Obama Trims Details on Health Law as Exchange Cost Rises

The $1.3 trillion U.S. health-care system overhaul is getting more expensive and will initially accomplish less than intended.

Costs for a network of health-insurance exchanges, a core part of the Affordable Care Act, have swelled to $4.4 billion for fiscal 2012 and 2013 combined, and will reach $5.7 billion in 2014, according to the budget President Barack Obama yesterday sent to Congress. That spending would be more than double initial projections, even though less than half the 50 U.S. states are participating.