Uh oh. New CBO report says ObamaCARE will increase the federal deficits by at least $59 BILLION, but more likely $260 billion over the next decade

090828obamasignContrary to recent claims that ObamaCARE will decrease the deficit, the CBO has released a new analysis that says that bill will in fact INCREASE the deficit by at least $59 billion, but more than likely $260 over the next 10 years!
New analysis from the Congressional Budget Office [CBO] provided at the request of House Budget Ranking Republican Paul Ryan, indicates that including the “doc fix” in the Majority’s health care overhaul adds $208 billion to the cost of the bill, increasing the deficit by $59 billion over the next 10 years. In response to a question regarding passage of the doc fix, Speaker Pelosi said “it’s not in this bill but we’ll have it soon. We’ve made a commitment to do this.”CBO also estimates the effect on the deficit if a number of other unrealistic policy changes, in addition to the 21 percent cut to physicians, made by the Majority are never implemented.

% Assumes the Cadillac tax is never implemented. Continuing to delay the start of their
proposal to tax individuals’ higher-premium health insurance plans. Throughout the
legislative process, the Cadillac tax has been delayed twice – first during floor debate and
then as proposed by the President. Under the reconciliation bill, this new tax is not
implemented until 2018.
% Assumes the artificial slowing of the growth in subsidies does not occur. The bill
currently removes the annual indexing of the subsidies. Throughout this process, the bill
has been modified to increase subsidies in the near term, but reduce their growth in the
out years.
% Assumes unrealistic cuts made by a Medicare commission. The Independent Payment
Advisory Board is tasked with unrealistic Medicare cuts that history tells us will never be
implemented (e.g. doc fix).

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March 19, 2010 · Filed Under General Politics


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