Saturday, June 20, 2015

Republicans hate ObamaCare so much, they'll be happy to triple the red ink added to the U.S. deficit with its repeal.

Let's be honest, Republicans would prefer we were all the subjects (employees) of a corporate boss. They want us to be desperate enough to settle for whatever they give us...and no complaining. These leaders of rugged individualism don't want you to succeed or start your own business, so that's why they want to make it hard for you to get insurance. 

But Republicans are caught in their own BS now, and they're hoping they can spin their way out of adding to the deficit when they destroy the Affordable Care Act. The numbers aren't looking good:
Reuters: Obamacare repeal to boost 10-year U.S. deficit by $353 billion more than triple the red ink compared to an estimate three years ago.
But the CBO is now mandated by Republicans to use not just the hard facts, but the voodoo economic gimmick of “dynamic scoring,” a magical way to over predict the benefits of GOP policy. They even changed the head of the agency to get a better answer. Not only did that not work, the answer they got back was worse than before, when it was just $109 billion:
But the Congressional Budget Office and the Joint Committee on Taxation said the deficit increase would only be $137 billion if economic feedback effects were considered…"dynamic scoring."  
But these positive effects would target small businesses, and entrepreneurs now getting health care insurance on their own, instead of serving as an employee. Plus, they would lose their subsidies and probably the insurance and doctor they like;
The CBO and JCT said the main positive economic effect of repeal would be an increase in labor supply as Americans lose healthcare subsidies, boosting U.S. tax revenues. The agencies previously had estimated that more people nearing retirement age would limit their work and income to obtain federal insurance subsidies.

Based on the "static" budget analysis used most often by the CBO and JCT, the $353 billion deficit increase for 2016-2025 period increase … Repeal would increase deficits by $275 billion over the 2023-2025 period.
While Republicans lie about the impact of the Affordable Care Act, the truth stands in stark contrast:
The CBO and JCT also have lowered healthcare cost estimates since 2012, so a repeal of Obamacare's health coverage provisions would produce less direct savings than estimated previously.

Overall, based on static scoring, a repeal would reduce federal outlays by $821 billion over 10 years but this would be offset by an estimated reduction in revenues of $1.17 trillion.

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