BREAKING: Repealing ObamaCare Would SAVE 1.4 TRILLION DOLLARS Over 10 Years, per CBO
Via DrewM. at AOSHQ and Andrew Stiles at The Corner:
The costs of those coverage expansions—which include the cost of the subsidies to be provided through the exchanges, increased outlays for Medicaid and the Children’s Health Insurance Program (CHIP), and tax credits for certain small employers—will be partially offset by revenues from the excise tax on high-premium insurance plans and net savings from other coverage-related effects. By repealing those coverage provisions of PPACA and the Reconciliation Act, over the 2012-2021 period H.R. 2 would yield gross savings of $1,390 billion and net savings (after accounting for the offsets just mentioned) of $1,042 billion.
That’s from a letter from CBO Director Douglas Elmendorf to Speaker of the House John Boehner.
How long did the left treat us with the CBO saying Obamacare was going to save the country money over the long haul? How often were we ignored by the left when we knew that that was based on numbers pulled out of the collective butts of Nancy Pelosi and Harry Reid?
Elmendorf goes through the motions of saying Medicare outlays, outlays that Obamacare might have reduced, would be increased. That’s crap and can be ignored. He also talks about how over half a trillion dollars in guesstimated revenues would be lost, except the government doesn’t have them anyway and there’s no way until it happens to know if those guesstimates are accurate (highly doubtful).