Saturday, July 28, 2012

Cost Of Repealing Obamacare

   On Tuesday, the CBO ( Congressional Budget Office ) provide a letter with an estimate of how much it will cost to repeal the Affordable Care Act, to House Speaker John Boehner, not that he will pay any attention to it.

    The CBO found “ "the direct spending and revenue effects of enacting that legislation would cause a net increase in federal budget deficits of $109 billion over the 2013-2022 period."

The primary reason for the deficit increase, the report showed, was the repeal of several tax increases within the health care law. While the repeal bill would reduce direct federal spending by $890 billion over that period, it would also slash more than $1 trillion in new taxes.     Yahoo News

   So in essence, Boehner and his band of merry men, being the deficit hawks trying to cut government spending, will add to that spending/deficit.

In a separate analysis, the CBO also measured the impact of the June Supreme Court ruling that struck down parts of the health care law but left core provisions intact, and found that it would save $84 billion because of reduced Medicaid spending.

The CBO estimated in 2011 that the health care law would reduce the federal deficit by $210 billion over 10 years because of the law's revenue increases.

   Once again, the Republicans prove that they do not care about cutting spending unless it happens to programs which affect the middle class and the poor.

  If by some chance Romney makes it into the White House, you can bet your asses that those deficits will no longer matter.