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January 08, 2011
BREAKING : CBO Says Repealing ObamaCare (socialized medicine) Would Reduce Net Spending by $540 Billion
BREAKING : CBO Says Repealing ObamaCare Would Reduce Net Spending by $540 Billion
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.
Full email, from Edward "Sandy" Davis, CBO's Associate Director for Legislative Affairs, below.
To interested Hill staff:
CBO and the staff of the Joint Committee on Taxation (JCT) have not yet developed a detailed estimate of the budgetary impact of H.R. 2, the Repealing the Job-Killing Health Care Law Act, which would repeal the major health care legislation enacted in March 2010. Yesterday, we released a preliminary analysis of that legislation indicating that, over the 2012-2021 period, the effect of enacting H.R. 2 on the federal budget as a result of changes in direct spending and revenues is likely to be an increase in deficits in the vicinity of $230 billion, plus or minus the effects of forthcoming technical and economic changes to CBO’s and JCT’s projections for that period.
We have been asked to provide the revenue and direct spending components of that total. Extrapolating the estimated budgetary effects of the original health care legislation and accounting for the effects of subsequent legislation, CBO anticipates that enacting H.R. 2 would probably yield, for the 2012-2021 period, a reduction in revenues in the neighborhood of $770 billion and a reduction in outlays in the vicinity of $540 billion, plus or minus the effects of forthcoming technical and economic changes to CBO’s and JCT’s projections.
CBO will post a Director’s blog with this information on the CBO website shortly. Please let me know if you have any questions.
Sandy
Edward "Sandy" Davis
Associate Director for Legislative Affairs
Congressional Budget Office
.
Wild Thing's comment.........
Booom!
Of course we’ll see this news on ABC, CBS, NBC and CNN in about........( tick tock tick tock ) ......?
Hello?
hmmmmm, Now will we hear all the Socialists who insisted the CBO was non partisan to now say the CBO is partisan.
We can also look at Romneycare in Massachusetts. It’s driving the state bankrupt.
Obamacare a ticking time bomb that will explode in our faces and bankrupt the nation while at the same time destroying the best health care in the world.
Kill “Obamacare” !
Posted by Wild Thing at January 8, 2011 05:50 AM
Comments
You're right about not seeing this news on any of the major networks. We won't be seeing it in any major publications, either. State controlled media, anyone?
The local rag,Daily Breeze, a South Bay paper, had a screaming front page headline yesterday with the original set of figures stating that the deficit would be increased. I am still looking for the retraction in today's edition. There is a story however, on page 8, regarding the House Vote to repeal Obamacare.
That headline reads, "Symbolic Step taken to repeal", with a subtext stating that the Repubs know that the Senate will block the vote.
Both stories were written by the same AP reporter.
We should all be thatnkful that we have sites such as yours, and alternate publications like the American Spectator, available, so that we may learn the actual facts.
Posted by: Sean at January 8, 2011 10:44 AM
It will be next to impossible this Congress, but maybe after the 2012 elections we can repeal obamacare. It is a massive shift of power from individual free Americans to a socialist govt. It is also a very expensive program with questionable results and limits on medical care.
Posted by: TomR,armed in Texas at January 8, 2011 10:46 AM
They can defund key parts of this Health Care scam and give it a timely death. I hope that's what they'll do.
Posted by: Mark at January 8, 2011 12:42 PM
Sean, thank you so much I appreciate it. I agree too that I am thankful for the blogs that get the word out. I agree too about publilcations like American Spectator and others, they really get the truth out.
Thanks Sean for the information too about the Daily Breeze and the two stories by the same AP reporter.
Posted by: Wild Thing at January 8, 2011 06:29 PM
Tom, well said, I hate having to wait that long, but I realize all this government stuff takes time to undo too when we are not in power in both houses and the WH as well.
Hard to be patient about all of this.
Posted by: Wild Thing at January 8, 2011 06:32 PM
Mark, that would be great, I do have a better feeling about all of this that it actually might happen that we can be rid of it.
Posted by: Wild Thing at January 8, 2011 06:35 PM
