Saturday, June 20, 2015

Obamacare Repeal Would Swell The Deficit Even Using GOP's New Math, Budget Office Says

The economist that Republicans handpicked to run the Congressional Budget Office just told Republicans that one of their favorite arguments about Obamacare is wrong.

According to a report the CBO released Friday, repealing the Affordable Care Act wouldn't reduce the deficit, as Republicans have long claimed. It would increase the deficit, by at least $137 billion over 10 years and maybe a lot more than that -- with the effects getting bigger over time.

Of course, that’s in addition to the effect repeal would have on the number of Americans without health insurance. The CBO says the ranks of the uninsured would increase by 19 million people next year.

The agency's assessments matter because the CBO is Washington’s unofficial referee on policymaking. Before passing a law, Congress looks to the CBO and its staff of well-respected, nonpartisan economists to predict how much money a proposal will bring into the federal Treasury and how much it will force the government to pay out. 

Members of Congress also depend on CBO estimates to show them how proposals to alter health care policy will affect the number of Americans who have health insurance, what prices these people will pay for their coverage, and so on.

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