Obamacare ‘Bailout’ Actually Saves $8 Billion: CBO
Source: Yahoo Finance
Republicans filed out of a closed-door strategy session today without a final decision on how to approach the coming debate over raising the debt ceiling, according to The Washington Post. But a report issued by the Congressional Budget Office Tuesday morning may help make the decision for them.
Many congressional Republicans believe that they should not raise the nations borrowing limit unless President Obama agrees to give them something in return. Approval of the Keystone XL pipeline or a repeal of the so-called risk corridors in the Affordable Care Act are the two items topping their potential wish list. The CBO report might shift the balance between those options because it projects that the risk corridor program, which Republicans have insistently characterized as a bailout of the insurance industry, will probably generate a net profit for the federal government.
The risk corridors are a temporary measure to protect insurers from unexpectedly large losses in the first few years of the health care laws implementation. Companies that incur costs from medical claims that are significantly higher than expected would be compensated by the government, and those with costs that are significantly below expectations would have to pay back part of that windfall, also to the government.
A joint analysis by the CBO and Congresss Joint Committee on Taxation found that in the coming years, the government will pay out an estimated $8 billion to insurers as part of the risk corridor program. That will be offset, however, by an estimated $16 billion paid back to the government by health insurers. The CBO had previously projected that the risk corridors would have no net impact on the budget.
Read more: http://finance.yahoo.com/news/obamacare-bailout-actually-saves-8-194100056.html
In addition to Republican lies about the ACA costing 2 million jobs, the so-called "bailout" talking point is also full of lies. The very same CBO report that Republicans cite note that the repeal of the risk corridor provisions that Republicans call a bailout would increase the deficit by $8 billion. Sadly, since Republicans would rather the ACA fail than help people, they probably see this as a good result. Increase misery for political effect sort of like a Christie created traffic jam.
Thinkingabout
(30,058 posts)for the GOP.
global1
(25,168 posts)global1
(25,168 posts)The administration and the Dems need to get out in front of this ASAP and put the positive spin on it as stated in the OP.
TomCADem
(17,378 posts)...it is not about media strategy. It is about media bias. Heck, look at the WSJ publishing the editorial by Third Way types attacking Democrats for focusing in income inequality. It is not like Bernie Sanders was too busy to tell the progressive side of the story. The corporate media is censoring and ignoring progressive and moderate viewpoints.
quadrature
(2,049 posts)is that really desirable?. no
TomCADem
(17,378 posts)...so it puts both a floor and a ceiling.
quadrature
(2,049 posts)are being discussed here.
1341, reinsurance
1342, bailout
Not exactly sure what you meant.
I don't like 1342, bailout, sends taxpayers money
to ICs if loss exceeds a certain amoun
(1341, reinsurance, moves industry money around)
SunSeeker
(51,377 posts)underpants
(182,279 posts)Who voted for it? Who praised it a major accomplishment?