The Director of the Congressional Budget Office sent a love letter to Speaker of the House Boehner:
The enacted legislation contained a set of provisions designed to expand health insurance coverage that was estimated to increase federal deficits. The costs of those coverage expansions—which include the cost of the subsidies to be provided through the
exchanges, increased outlays for Medicaid and the Children’s Health Insurance Program (CHIP), and tax credits for certain small
employers—will be partially offset by revenues from the excise tax on high-premium insurance plans and net savings from other
coverage-related effects. By repealing those coverage provisions of PPACA and the Reconciliation Act, over the 2012-2021 period
H.R. 2 would yield gross savings of $1,390 billion and net savings (after accounting for the offsets just mentioned) of $1,042 billion.
So yeah, there’s that.
Hat Tip: The Corner
[...] This post was mentioned on Twitter by Vince Humphreys, Duane Lester, Jimmie, Gary L Beasley, Hans von der Gruen and others. Hans von der Gruen said: CBO: Repealing ObamaCare Would Save $1.4 Trillion http://ff.im/-ylOwK [...]
“The duty of a patriot is to protect his country from it’s government”. Thomas Paine
Maybe national insurance, of some sort, would be good for America, but now is not the time with our economic crisis. Poor timing by our politicians.
It’s going to get worse with Wisconsin looking like Cairo/Tunia/Bahrain. Need to read a new book out about revolution coming to America. It’s a thriller & so real for our economic situation (like Greece last year). I recommend it. It’s a must read.
http://www.booksbyoliver.com
[...] Obamacare. [...]