CBO Warns Republicans That Repealing Health Law Would Increase Deficit By $455 Billion

[kpete]

Source: Think Progress

http://www.cbo.gov/ftpdocs/118xx/doc11820/CrapoLtr.pdf

CBO Warns Republicans That Repealing Health Law Would Increase Deficit By $455 Billion

The Congressional Budget Office is out with a new letter saying that while the health care law could reduce the projected budget deficit by $30 billion in 2020, repealing it would increase the deficit by an estimated $455 billion:

***** On balance, the two laws’ health care and revenue provisions are estimated to reduce the projected deficit in 2020 by $28 billion, and the education provisions of the Reconciliation Act are estimated to reduce the projected deficit in 2020 by $2 billion....

*****Finally, you asked what the net deficit impact would be if certain provisions of PPACA and the Reconciliation Act that were estimated to generate net savings were eliminated—specifically, those which were originally estimated to generate a net reduction in mandatory outlays of $455 billion over the 2010–2019 period. The estimate of $455 billion mentioned in your letter represents the net effects of many provisions. Some of those provisions generated savings for Medicare, Medicaid, or the Children’s Health Insurance Program, and some generated costs. If those provisions were repealed, CBO estimates that there would be an increase in deficits similar to its original estimate of $455 billion in net savings over that period.

If they were to repeal the law, Republicans would have replace it with something that makes up for the deficit increases (assuming, of course that they will still care about the deficits) and helps slow the growth rate in the Medicare program. The GOP’s old leadership backed plan and its reliance on medical malpractice reform as a money saver won’t be enough.

Separately, the CBO also estimated that preventing payment reductions to the physician fee schedule would cost some $330 billion over the 2011–2020 period.

Read more: http://wonkroom.thinkprogress.org/2010/08/26/cbo-cost-repea/

[Oceansaway]

1. K&R...n/t

[derby378]

2. It still needs a major overhaul, though

In the form of a public option and an end to gender-based denial of health care, for starters.

[still_one]

3. if the repukes take over and repeal it, they will make up the deficit by destroying

social security and medicare by pushing for its privatization

I have the up most confidence in the repuke party that they can make things much worse

[w4rma]

4. Who will the Republicans tax to pay for it? (nt)

[Turbineguy]

5. Nobody.

Government departments will be judged on the success of their bake sales and car washes.

[BetterThanNoSN]

15. how quickly you forget...

if and when repubs are back in power deficits won't matter(again)

[Romulox]

6. "CBO: Public health option would save $68 billion through 2020"

http://thehill.com/blogs/healthwatch/health-reform-implementation/110321-cbo-public-option-would-save-68-billion-through-2020-

It's dangerous to use the CBO to defend Obama's mandatory private insurance scheme. :hi:

[Hosnon]

7. Haha - that's freakin' awesome.

Suck on that Pubs.

[dotymed]

8. What is really unbelievable and Anti-American

is that the CBO report on the deficit reduction, cost savings, of Universal Health Care was not allowed to be presented to the congress and therefore it was not readily available (no MSM coverage) to the American public.
How could citizens, no matter what political party, refuse Universal Health Care if they were actually given the facts? The Billion$$ of savings and the nation-wide health improvements that would be realized if only America (like ALL other 1st world countries) would adopt Universal Health Care is known only by a minority of Americans.
If these facts were known by all, then the health insurance companies, who rip-off most Americans and are responsible for untold deaths every day, would be "on the ropes."
America would take one step closer to actually allowing its' citizenry to benefit instead of a "for profit" corporation.
It is a national disgrace, committed by every politician, who should have demanded ALL OF THE FACTS ON THE TABLE and made public.
There is not a issue that is more proving that America is a corporate controlled (Fascist) country, than the Health Care "Debate" that was never allowed to happen.

[ben_thayer]

9. WELL SAID!!

:applause:

[jtrockville]

12. You tell'em dotymed. It is truly a national disgrace.

[superconnected]

14. Very well said!

[daleanime]

18. Hell yea...

:applause:

[diane in sf]

20. Repugs, Dinos and their corp. overlords are trying to ensure that we are not a first world country

[truedelphi]

22. Very good post.

And this OP article states that the deficit would zoom up by over 450 billion...

Why is that? a person might ask...

Well, because this huge "Reform" Bill is part of an attempt to destroy Medicare. It mandates that about 500 billion bucks be CUT from the current Medicare budget.

Obama has as his talking points that the 500 billion will come from fraud and waste, but he includes the doctor's fees as part of that.

Many doctors treating people in that age group were already not accepting new patients fifteen years ago.

Once the cuts are in place, there will not be many doctors out there wanting Medicare patients.

[PSPS]

10. CBO Tells Republicans That Repealing Health Law Would Increase CEO incomes $455 Billion

[quiet.american]

11. K&R nt

[superconnected]

13. Watch them vote for their corporate overlords and go against their conservativism

they always do.

[newtothegame]

16. I don't get it. This year's budget was over a TRILLION $ wasn't it?

But yet we're getting off that the budget deficit would be reduced by $30 billion 10 years from now?

[JerseygirlCT]

17. Their response?

So repeal it, and add more tax cuts for the wealthiest!

[theaocp]

19. They are H-Y-P-O-C-R-I-T-E-S

and wouldn't bat an eye to increase the deficit. They do. not. care. You can't reason with them and I'm losing patience with those who try.

[defendandprotect]

21. Imagine how much more we could save if we had MEDICARE FOR ALL -- !!

[AsahinaKimi]

23. Seriously , do Republicans Care??

Look how much money they wasted the last 8 years under Bush.

[activa8tr]

24. Republicans did SO WELL managing the national budget and the

economy for 8 years under W....

I'm sure they would just continue to wreck the economy if voters gave them the chance again.

Republicans are SO F*ckin STUPID that Sarah Palin is the most brilliant one of them.

[FarLeftFist]

25. BOOKMARKED.

[voteearlyvoteoften]

26. rec