Friday, January 14, 2011

CBO To Boehner: Republican Health Care Repeal Adds $145 Billion To Deficit

The non-partisan Congressional Budget Office (CBO) sent a letter to House Speaker John Boehner (left) on the Republican bill (H.R. 2) to repeal health care reform. The letter states that repeal would increase the deficit by $145 billion over seven years:

As a result of changes in direct spending and revenues, CBO expects that enacting H.R. 2 would probably increase federal budget deficits over the 2012–2019 period by a total of roughly $145 billion, plus or minus the effects of technical and economic changes that CBO and JCT will include in the forthcoming estimate. That figure consists of the following two components:

• About $130 billion, representing the net reduction in deficits over the 2012–2019 period expected to result from the health care provisions of the enacted legislation (as estimated by CBO and JCT last March), plus

• About $15 billion, representing the reduction brought about by the Medicare and Medicaid Extenders Act of 2010 in the estimated cost of subsidies to be provided through the insurance exchanges through 2019.

The Republicans rejected the CBO's numbers; Paul Krugman demolished their objections, which he termed "deliberate fraudulence." He also ridiculed the "sheer tackiness of the bill's title," the "Repealing the Job-Killing Health Care Law Act," asking, "Have they, at long last, no sense of shame?"

2 comments:

Elmo said...

What long last? These people haven't had a sense of shame since they beatified a worn out actor.

Jeff Tone said...

You're right, Elmo. If the Republicans haven't developed that sense by now, they never will. How, after all, were they not ashamed to be opposed to the medical bill for first responders at ground zero?