Thread: CBO Says Repealing ObamaCare Would Reduce Spending by $540 B

CBO Says Repealing ObamaCare Would Reduce Spending by $540 Billion

January 7, 2011
obamacare

The Congressional Budget Office, in an email to Capitol Hill staffers obtained by the Spectator, has said that repealing the national health care law would reduce net spending by $540 billion in the ten year period from 2012 through 2021. That number represents the cost of the new provisions, minus Medicare cuts. Repealing the bill would also eliminate $770 billion in taxes. It’s the tax hikes in the health care law (along with the Medicare cuts) which accounts for the $230 billion in deficit reduction.

Relevant portion of email, from Edward “Sandyâ€

Republican bid to scrap healthcare hits snag

WASHINGTON (Reuters) – Republican efforts to scrap President Barack Obama's healthcare reform took a hit on Thursday when budget analysts said repeal would add billions of dollars to the federal budget deficit.

The nonpartisan Congressional Budget Office estimated overturning the reform signed by Obama last year would add about $230 billion to the deficit by 2021 and result in 32 million fewer people having health insurance . . .

http://www.alipac.us/ftopict-223775.html