Saturday, February 19, 2011

Repealing Obamacare adds $210 billion to deficit.

While the House Republicans have a hard time try to cut up to $100 billion,  they would be adding $210 billion by simply killing health care reform. Now that economic genius. Huffington Post:
Repealing the U.S. healthcare law enacted last year would add $210 billion to the nation's deficit over the next decade, congressional auditors said on Friday. 
The Congressional Budget Office said enactment of a House of Representatives measure last month to scrap the healthcare overhaul would eliminate a number of provisions aimed at reducing federal healthcare costs as well as strip out new revenue-creating taxes and fees. 
he CBO, along with the Joint Committee on Taxation, earlier estimated the law would save the federal government $124 billion between 2010, when the law was passed, and 2019. Its $210 billion cost increase estimate on Friday covers a slightly different period -- 2012 to 2021. But looking at just the eight years in common between both estimates, implementing the law would save the government $132 billion, while repealing it would boost deficits by $119 billion, it said. 
The CBO's analysis comes as U.S. House lawmakers passed an amendment to a spending bill on Friday that would block funds needed to implement the 2010 law, one of Obama's top domestic priorities.

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