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Sunday, February 20, 2011

CBO: Health care repeal would add $210 billion to deficit

But we all know the repugicans couldn't care less about the deficit.
They proved that during the shrub years when government and spending (and the deficit) soared -- remember, Clinton handed the shrub a budget surplus.
For the repugicans, it's all about their protection of business and their odd fixation on social wedge issues.
If they were serious about the deficit they would have been much more serious about job creation instead of abortion.

The New Republic:
The Congressional Budget Office has delivered an official estimate of what repealing the Affordable Care Act would do to the federal budget. According to CBO's estimates, the deficit would rise by $210 billion in the first decade:

H.R. 2 would, on net, increase federal deficits over the next decade because the net savings from eliminating the coverage provisions would be more than offset by the combination of other spending increases and revenue reductions.

In total, CBO and JCT estimate that H.R. 2 would reduce outlays by about $604 billion and reduce revenues by about $813 billion over the 2012-2021
period.

This is twice the estimate the CBO made last year, when it projected the effects of a similar repeal bill. Why the difference? Because it's a year later and the projection period extends through 2021 rather than 2011. Remember, the law is designed to save more money as time goes on.

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