Skip to comments.CBO: Obamacare Repeal Would Save $1.4 Trillion
Posted on 02/18/2011 4:20:56 PM PST by lbryce
In a letter to House Speaker John Boehner (R., Ohio), CBO Director Douglas Elmendorf writes:
The enacted legislation contained a set of provisions designed to expand health insurance coverage that was estimated to increase federal deficits. The costs of those coverage expansionswhich include the cost of the subsidies to be provided through the exchanges, increased outlays for Medicaid and the Childrens Health Insurance Program (CHIP), and tax credits for certain small employerswill 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.
The full 20 page letter is available to view at the link provided below.
Link:CBO 20 Page Letter to House Speaker John Boehner
(Excerpt) Read more at nationalreview.com ...
And when you drop Michelle's squandering our money into the equation.... :-)
One trillion 1,000,000,000,000 equals 999,999,999,999 + 1. That is 999 billion, 999 million, 999 thousand, 999 plus 1.
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