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  • ObamaCare Will Cost $136 Bil More, Cover Fewer People Than We Thought, CBO Says

    04/11/2016 3:56:26 AM PDT · by IBD editorial writer · 17 replies
    Investor's Business Daily ^ | 4/8/2016 | Staff
    Health Reform: ObamaCare has been taking lots of hits lately, but a new report from the Congressional Budget Office is a gut punch. It shows that ObamaCare’s outlook has worsened considerably as fewer people sign up and costs rise more than expected.
  • ObamaCare may force employers to pull the plug on millions of health plans, CBO report finds

    03/28/2016 8:22:37 PM PDT · by Olog-hai · 19 replies
    Fox News ^ | March 28, 2016 | (With AP)
    In the latest report to undercut President Obama’s “If you like your health care plan, you can keep it” promise, the Congressional Budget Office projects millions of workers will leave employer-sponsored health plans over the next decade because of ObamaCare. Some will opt to go on Medicaid, but others will be kicked off their company plans by employers who decide not to offer coverage anymore, according to a new CBO report titled, “Federal Subsidies for Health Insurance Coverage for People Under Age 65: 2016 to 2026.” “As a result of the ACA, between 4 million and 9 million fewer people...
  • CBO Misses Its Obamacare Projection by 24 Million People

    03/28/2016 5:17:39 PM PDT · by Nachum · 16 replies
    Three years ago, on the eve of Obamacare’s implementation, the Congressional Budget Office (CBO) projected that President Obama's centerpiece legislation would result in an average of 201 million people having private health insurance in any given month of 2016. Now that 2016 is here, the CBO says that just 177 million people, on average, will have private health insurance in any given month of this year—a shortfall of 24 million people. Indeed, based on the CBO's own numbers, it seems possible that Obamacare has actually reduced the number of people with private health insurance. In 2013, the CBO projected that,...
  • CBO: Millions Will Lose Employer Coverage Due to Obamacare Premium Spikes

    03/27/2016 6:43:34 PM PDT · by MarvinStinson · 50 replies
    pjmedia ^ | MARCH 26, 2016 | RICK MORAN
    The slow-motion implosion of Obamacare continues with the newest report from the Congressional Budget Office foreseeing up to 9 million Americans losing their employer-based insurance coverage over the next decade because of spiking premiums. The Washington Times: Obamacare insurance premiums will leap 6 percent a year over the next decade, and companies will drop millions of employees from their health plans as insurers and employers calibrate their offerings for the new marketplace, the Congressional Budget Office said Thursday. The health law will continue to steadily grow in both cost and coverage, working toward President Obama’s goal of expanding those with...
  • CBO cuts Obamacare enrollment projection

    03/24/2016 6:14:11 PM PDT · by Kaslin · 8 replies
    Hot Air.com ^ | March 24, 2016 | JOHN SEXTON
    The congressional budget office has revised its Obamacare enrollment target for 2016 downward by a million people. This is the second such downgrade the CBO has issued in 2016. The Hill reports: About 12 million people are now expected to have ObamaCare coverage by the end of 2016, according to the nonpartisan budget office. Just three months ago, the office had predicted that 13 million people would have coverage.The latest enrollment estimate is an even steeper drop from the CBO’s estimates from 2015, which predicted 21 million people would have marketplace coverage by this time. The enrollment after the end...
  • Tax Policy Center Releases Flawed And Biased Analysis Of Marco Rubio Tax Cut

    02/12/2016 12:35:18 PM PST · by Citizen Zed · 3 replies
    forbes.com ^ | 2-11-2016 | Ryan Ellis
    The headline you'll read is that the Rubio plan cuts taxes by $6.8 trillion over a decade. This needs to be put in the context of the $42 trillion of revenue the federal government is projected to collect over the next ten years. So it's a big score, but it's not so big when compared to the larger tax revenue picture. Rarely are these two numbers associated, as they always should be. Needless to say, they are not in the TPC report. TPC themselves admit that they lack the capacity to do a macroeconomic analysis of the plan. In other...
  • The $1 Trillion Elephant in the Room

    02/05/2016 11:32:27 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | February 5, 2016 | Gretchen Hamel
    In the midst of the election circus and pageantry, it seems once again fiscal policy issues have taken a backseat. This might not matter if the issue were not of dire importance to Americans and their futures. But on the heels of the new Budget and Economic Outlook released by the Congressional Budget Office (CBO) last week, it has become all too clear that the fiscal issues our country faces are very real and must be dealt with. Every year, this non partisan analysis of our projected debt and deficit published doesn't mince words- the deficit only continues to get...
  • CBO: Obamacare Costs to Increase in 2016 As Millions More Get Subsidized Insurance

    02/03/2016 9:17:16 PM PST · by Olog-hai · 13 replies
    Cybercast News Service ^ | February 2, 2016 | 4:40 PM EST | Barbara Hollingsworth
    Taxpayers will have to shell out an estimated $18 billion more to subsidize Obamacare in 2016 despite lower than expected enrollment in the health care exchanges, according to a forecast by the non-partisan Congressional Budget Office (CBO). In its latest 10-year economic forecast, CBO predicted that 13 million Americans would purchase health insurance through the Obamacare exchanges in 2016, with 11 million of them receiving government subsidies to help pay for their premiums. But that figure is 40 percent lower than the 21 million enrollees CBO predicted last year would sign up. ...
  • CBO Issues Dire Warning on U.S. Government finances

    01/20/2016 5:27:15 PM PST · by Lorianne · 38 replies
    China Money Report ^ | 20 January 2016 | D. Collins
    Government estimates of debt over the next decade have gone from adding $1.5 trillion in debt to $9.4 trillion due to recent tax legislation. That will put the country up over $30 trillion in debt assuming there are no further recessions. This is the decade of no return. Seems blowing up peoples countries and importing their poor and putting them on benefits is no longer working. We have also tried closing all our factories and letting the world scam us out of jobs in the “free trade” system. World’s highest tax rates…not seeming to help either. Cramming people into “universities”...
  • Repealing Obamacare, Defunding Planned Parenthood Would Save $516 Billion Over 10 Years: CBO

    01/05/2016 8:22:41 PM PST · by Olog-hai · 28 replies
    International Business Times ^ | 01/05/16 at 9:03 AM | Elizabeth Whitman
    A bill to repeal major components of the Affordable Care Act that would also defund nationwide healthcare provider Planned Parenthood would reduce the federal deficit by $516 billion over the next 10 years, the Congressional Budget Office said in an estimate published Monday. [...] The bill, dubbed the Restoring Americans' Healthcare Freedom Reconciliation Act, would repeal several requirements vital to Obamacare, including the mandate that requires employers of a minimum size to offer employees health insurance. It would also undo what's known as the individual mandate, which requires all Americans to buy health insurance or pay a hefty fine. Republicans...
  • CBO: ObamaCare repeal bill would reduce deficits by half a trillion dollars over 10 years

    01/05/2016 7:18:03 AM PST · by Kaslin · 9 replies
    Hot Air.com ^ | January 5, 2016 | ED MORRISEY
    Plenty of Americans choose to reject ObamaCare to save themselves a boatload of money. Republicans in Congress believe the US budget should have that choice, and the CBO agrees with them that it would work, too. Their latest analysis of a bill that would repeal the major components of ObamaCare through the reconciliation process concludes that it would reduce federal deficit spending by $516 billion over the first ten years: Legislation to gut most of ObamaCare’s mandates and taxes, known as Restoring Americans' Healthcare Freedom Reconciliation Act, would reduce the deficit by $516 billion over 10 years, according to the...
  • What Do Tax Cuts 'Cost'? Less Than Advertized

    11/16/2015 3:48:50 AM PST · by IBD editorial writer · 11 replies
    Investor's Business Daily ^ | 11/13/2015 | Staff
    Budgets: The next time you hear someone complain about how much a tax cut will "cost" the government, take it with a very large grain of salt. The official scorekeeper of such things is almost always wrong.
  • CBO: ObamaCare Increases Deficit by $1.35 Trillion

    10/28/2015 7:44:29 AM PDT · by xzins · 28 replies
    CFIF ^ | JANUARY 28 2015 | ASHTON ELLIS
    After barely more than a year in operation, ObamaCare is now projected to require more than a trillion dollars in deficit spending over the next decade, according to the new CBO report. Buried in a new report by the Congressional Budget Office is the latest admission that ObamaCare was sold on a foundation of lies. Back in 2009, President Barack Obama told a joint session of Congress that “our health care system is placing an unsustainable burden on taxpayers.” “Put simply, our health care problem is our deficit problem. Nothing comes close. Nothing else.” The president’s speech was designed to...
  • US government records $51.8 billion budget surplus in June

    07/13/2015 12:16:11 PM PDT · by Olog-hai · 18 replies
    Associated Press ^ | Jul 13, 2015 2:32 PM EDT | Martin Crutsinger
    The U.S. government ran a budget surplus in June, leaving the budget deficit so far this year running under last year’s level. The Treasury Department says the surplus in June totaled $51.8 billion, compared to a surplus of $70.5 billion a year ago. However, the larger 2014 monthly surplus was heavily influenced by a timing quirk that had moved June benefit payments into May last year because June 1 fell on a Saturday.For the current budget year, the government is running a deficit of $313.4 billion, a 14.3 percent reduction from the imbalance over the first nine months of the...
  • CBO ISSUES DIRE DEBT WARNING OF 'FISCAL CRISIS'

    04/14/2014 12:56:30 PM PDT · by Jim Robinson · 70 replies
    Breitbart ^ | April 14, 2014 | By Wynton Hall
    New figures by the Congressional Budget Office released on Monday reveal that over the next 10 years the U.S. debt-to-GDP ratio will double to 78%. Over the last four decades America's average debt-to-GDP ratio was 39%. At the end of 2007, federal debt was just 35% of GDP. The CBO report says gross federal debt will soar from $17.7 trillion to $27 trillion over the next ten years. CBO warned of the dire consequences the nation's debt will have if gone unchecked. "Such high and rising debt would have serious negative consequences," says the report. "Federal spending on interest payments...
  • CBO: Debt Headed To 103% GDP; Only Time That High Was WWII; Financial Crisis Could Strike Any Moment

    07/10/2015 6:05:02 PM PDT · by E. Pluribus Unum · 11 replies
    PatDollard.com ^ | 07/10/2015 | Darby Crash
    (CNSNews.com) – Testifying in the U.S Senate yesterday, Congressional Budget Office Director Keith Hall warned that the publicly held debt of the U.S. government, when measured as a percentage of Gross Domestic Product, is headed toward a level the United States has seen only once in its history—at the end of World War II.To simply keep the debt at the high historical level where it currently sits—74 percent of GDP–would require either significant increases in federal tax revenue or decreases in non-interest federal spending (or a combination of the two).Historically, U.S. government debt as a percentage of GDP hit its...
  • CBO: Debt Headed to 103% of GDP; Level Seen Only in WWII

    07/10/2015 5:24:07 PM PDT · by John W · 6 replies
    csnnews.com ^ | July 10, 2015 | Terence P. Jeffrey
    Testifying in the U.S Senate yesterday, Congressional Budget Office Director Keith Hall warned that the publicly held debt of the U.S. government, when measured as a percentage of Gross Domestic Product, is headed toward a level the United States has seen only once in its history—at the end of World War II. To simply keep the debt at the high historical level where it currently sits—74 percent of GDP--would require either significant increases in federal tax revenue or decreases in non-interest federal spending (or a combination of the two).
  • CBO: Debt Headed to 103% of GDP; Level Seen Only in WWII; 'No Way to Predict Whether or When' Fiscal

    07/10/2015 5:39:41 PM PDT · by Nachum · 23 replies
    cns news ^ | 7/10/15
    (CNSNews.com) - Testifying in the U.S Senate yesterday, Congressional Budget Office Director Keith Hall warned that the publicly held debt of the U.S. government, when measured as a percentage of Gross Domestic Product, is headed toward a level the United States has seen only once in its history—at the end of World War II. To simply keep the debt at the high historical level where it currently sits—74 percent of GDP--would require either significant increases in federal tax revenue or decreases in non-interest federal spending (or a combination of the two). Historically, U.S. government debt as a percentage of GDP...
  • 3 More Reasons To Get Rid Of ObamaCare, Hidden In The CBO Report

    06/22/2015 3:59:02 AM PDT · by IBD editorial writer · 4 replies
    Investor's Business Daily ^ | 06/19/2015 | Staff
    Forecasts: ObamaCare advocates tout a new Congressional Budget Office report saying that ObamaCare's repeal would boost the deficit. But read the actual report. It tells a far different, more disturbing tale about this law.
  • [CBO] Study says repealing ‘Obamacare’ would add to budget deficit

    06/20/2015 7:55:54 AM PDT · by Olog-hai · 20 replies
    Associated Press ^ | Jun 20, 2015 3:19 AM EDT | Andrew Taylor and Ricardo Alonso-Zaldivar
    A nonpartisan government study says repealing President Barack Obama’s signature health care law would modestly increase the budget deficit and the number of uninsured Americans would rise by more than 20 million. The report from the Congressional Budget Office comes ahead of a highly anticipated Supreme Court ruling that could have a major impact on the Affordable Care Act, nullifying health insurance subsidies for some 6 million people in more than 30 states. The budget analysts said that would add a host of new uncertainties to their estimates. Republicans now in control of both chambers of Congress say they are...
  • CBO: Repealing ObamaCare would cost $137 billion

    06/20/2015 12:23:53 AM PDT · by Libloather · 54 replies
    CBS News ^ | 6/19/15 | Kate Gibson
    With the U.S. Supreme Court set to rule on a key element of the Affordable Care Act (ACA), the Congressional Budget Office (CBO) has estimated the financial impact of repealing the health law on the economy. Striking down Obamacare, as the federal insurance program is called, would increase the nation's budget deficit by a net $137 billion over a 10-year period, according to the nonpartisan CBO, which analyzes budgetary and economic issues on behalf of lawmakers. The total budget gap between 2016 and 2025 would rise by $353 billion as a result of eliminating Obamacare, according to the CBO, which...
  • Academics Fix Another Problem

    06/01/2015 7:58:39 AM PDT · by Academiadotorg · 9 replies
    Accuracy in Academia ^ | May 30, 2015 | Malcolm A. Kline
    How many academics does it take to fix America’s criminal justice system? Twenty. That’s how many participated in a National Research Council (NRC) study of U. S. prisons and their effect on inner cities. They study was conducted under the auspices of the National Academy of Sciences (NAS). “After decades of stability, U.S. federal and state prison populations escalated steadily between 1973 and 2009, growing from about 200,000 people to 1.5 million,” they found. “The increase was driven by changes in policy that imprisoned people for a wider range of offenses and imposed longer sentences.” “Has this greater reliance on...
  • CBO: Feds Taxing More, Spending More, Running Bigger Deficit in 2015

    04/14/2015 12:04:58 AM PDT · by Olog-hai · 2 replies
    Cybercast News Service ^ | April 13, 2015 - 1:21 PM | Terence P. Jeffrey
    The federal government taxed away more money, spent more money and ran a bigger deficit in the first half of fiscal 2015 than it did in the first half of fiscal 2014, according to the Congressional Budget Office. “The federal government ran a budget deficit of $430 billion for the first half of fiscal year 2015, CBO estimates—$17 billion more than the shortfall recorded in the same span last year,” the CBO said in its Monthly Budget Review for March 2015, which was published April 8. “Both revenues and outlays were about 7 percent higher than the amounts recorded in...
  • Obama amnesty would actually save Feds $7.5 billion: CBO study

    01/30/2015 1:45:57 PM PST · by SeekAndFind · 67 replies
    Washington Times ^ | 01/30/2015 | By Stephen Dinan
    Halting President Obama’s deportation amnesty will end up hurting Uncle Sam’s bottom line, the Congressional Budget Office said Thursday in a new report that is bound to cause more problems for Republicans trying to block the White House’s executive action. While keeping illegal immigrants in the shadows would save the government billions on spending, it would also mean billions in taxes that never get paid, leaving the federal budget a total of $7.5 billion worse over the next decade than it would be if Mr. Obama’s amnesties take effect as scheduled, the CBO said. House Republicans have passed a bill...
  • 10 times more Americans than estimated will lose employer-based health insurance under Obamacare

    01/28/2015 6:29:56 AM PST · by SeekAndFind · 13 replies
    American Thinker ^ | 01/28/2015 | Rick Moran
    The latest data on Obamacare analyzed by the Congressional Budget Office shows that 10 million Americans are likely to lose their employer-based insurance by 2021 as companies dump their workers onto the Obamacare exchanges. That's 10 times the number originally projected by the CBO. About 1 of every 16 workers will be affected. The latest CBO report has not garnered a lot of attention, even though it contains the modestly good news that Obamacare is not costing as much as the CBO thought it would in 2010. That said, another reason the left and the administration may not be touting...
  • Obamacare program costs $50,000 in taxpayer money for every American who gets health insurance

    01/27/2015 1:09:35 PM PST · by SeekAndFind · 32 replies
    Daily Mail ^ | 01/27/2015 | By DAVID MARTOSKO, US POLITICAL EDITOR
    * Stunning figure comes from Congressional Budget Office report that revised cost estimates for the next 10 years * Government will spend $1.993 TRILLION over a decade and take in $643 BILLION in new taxes, penalties and fees related to Obamacare * The $1.35 trillion net cost will result in 'between 24 million and 27 million' fewer Americans being uninsured – a $50,000 price tag per person at best * The law will still leave 'between 29 million and 31 million' nonelderly Americans without medical insurance * Numbers assume Obamacare insurance exchange enrollment will double between now and 2025 It...
  • Obamacare program costs $50,000 in taxpayer money for every American who gets health insurance...

    01/26/2015 3:17:28 PM PST · by Libloather · 14 replies
    Daily Mail ^ | 1/26/15 | David Martosko
    Obamacare program costs $50,000 in taxpayer money for every American who gets health insurance, says bombshell budget report It will cost the federal government – taxpayers, that is – $50,000 for every person who gets health insurance under the Obamacare law, the Congressional Budget Office revealed on Monday. The number comes from figures buried in a 15-page section of the nonpartisan organization's new ten-year budget outlook. The best-case scenario described by the CBO would result in 'between 24 million and 27 million' fewer Americans being uninsured in 2025, compared to the year before the Affordable Care Act took effect. Pulling...
  • CBO: Deficits To Explode As Obama Leaves Office

    01/26/2015 2:40:13 PM PST · by jazusamo · 42 replies
    Townhall.com ^ | January 26, 2015 | Conn Carroll
    Federal deficits may have been falling since the end of the recent recession, but thanks to spending increases in major health care programs, including Obamacare, deficits are set to explode in 2017, according to a new report by the Congressional Budget Office. Thanks to the recent recession and President Obama's trillion dollar stimulus, the federal budget deficit reached an all time $1.4 trillion high in 2009. Then, as the economy slowly improved and Obama's stimulus trickled to end, the deficit began to fall. According to the CBO, the deficit will continue to fall to $467 billion in 2016. Immediately...
  • CBO: Saving Unborn Babies From Abortion Will Increase the Budget Deficit

    01/20/2015 6:39:17 PM PST · by Morgana · 29 replies
    blaze.com ^ | Jan. 20, 2015 | Pete Kasperowicz
    The Congressional Budget Office says legislation the House will pass this week to ban abortions after 20 weeks of pregnancy would lead to an increase in the budget deficit of at least $235 million over the next decade, and perhaps as much as half a billion dollars. The CBO released a report Tuesday for the Pain-Capable Unborn Child Protection Act, H.R. 36, which the House will consider on Thursday. That bill aims to ban abortions after 20 weeks, and is based on evidence that a fetus can feel pain once it reaches that age. CBO’s report assumes that if the...
  • Why the Left is Hyperventilating Over Dynamic Scoring

    01/14/2015 5:51:13 AM PST · by lifeofgrace · 7 replies
    Charting Course ^ | 1/14/2015 | Steve Berman
    The Left is so used to controlling information that they believe it to be their birthright.  For nearly 100 years, they’ve assumed the mantle of impartiality simply to cover their own failed policy aspirations.  Now they are all going bat-guano crazy because the Republican majority in Congress wants to make a small dent in the gleaming fact-fogging machine the Left has built, by directing the Congressional Budget Office to use “dynamic scoring”.  Yawn. A quick explanation:  if you raise or lower taxes, what will be the effect on consumer and business behavior?  Will businesses hire more and produce more if...
  • $1.9 trillion: The cost of government regulation in 2015

    01/13/2015 8:00:27 PM PST · by SeekAndFind · 2 replies
    Hotair ^ | 01/13/2015 | Kevin Glass
    President Obama hasn’t given much credence to the idea that America is suffering from overregulation, and his policies have proven that. Late last year, he debuted a new EPA rule that has been called “the most expensive regulation ever.” “Economically significant” regulations have exploded in the Obama era. The Competitive Enterprise Institute’s Wayne Crews has done exhaustive work cataloging regulation in America, and his new report on regulation for 2015, Tip of the Costberg, is an eye-opener.Crews estimates that regulation will cost the American economy $1.882 trillion in 2015. This is a staggering figure and, as you might have...
  • All of #GruberGate, Explained in 2 minutes

    11/18/2014 4:47:57 PM PST · by Cincinatus' Wife · 6 replies
    Red State ^ | November 18, 2014 | Leon H. Wolf (Diary)
    Our own Ben Howe made this video for the folks at American Commitment that explains the entire #GruberGate kerfuffle in 2 minutes. The video is damning and really explains what ought to be page A1 material on every newspaper in the whole country. Check it out:
  • Republicans Should Respond To GruberGate By Cleaning House At CBO

    11/19/2014 8:57:53 AM PST · by PROCON · 10 replies
    thefederalist.com ^ | Nov. 19, 2014 | Ben Domenech
    What a week this has been for Jonathan Gruber, as a deluge of videos have illustrated his many varied public comments on the deceptions of Obamacare. Here’s an excellent supercut from Phil Kerpen of the various comments from political supporters of Obamacare denying Gruber’s existence and relevance to the creation of Obamacare.----------- ----------Even as a handful of officials admit Gruber’s critical role in creating Obamacare’s framework and more, some on the left are still trying to deny his various manic and stupefying statements admitting his role in creating the legislation’s smoke and mirrors structure. It’s hard for this role to...
  • Academic Built Case for Mandate in Health Care Law (yes, mo' Gruber)

    11/18/2014 8:27:40 AM PST · by Riflema · 10 replies
    New York Times ^ | 3/18/12 | Catherine Rampell
    ..."He also serves on the Massachusetts board that oversees the state’s new health care exchanges. Along with these credentials, Mr. Gruber’s position as an adviser to the influential Congressional Budget Office also left him perfectly positioned to advise the White House on health reform. “The most important arbiter of everything was the C.B.O.,” said Neera Tanden, who was a senior adviser for health reform at the Department of Health and Human Services. ...
  • The CBO Effectively Used Gruber’s Model to Score Obamacare

    11/16/2014 9:58:00 AM PST · by Cincinatus' Wife · 37 replies
    Weekley Standard ^ | November 16, 2014 | JEFFREY H. ANDERSON
    Two well-placed sources on Capitol Hill say that the Congressional Budget Office effectively used Jonathan Gruber’s model to score Obamacare. That model favors government mandates over market competition and claims that essentially the only way to achieve a large reduction in the number of uninsured Americans is to impose an Obamacare-like individual mandate. Moreover, because the model that the CBO used in scoring Obamacare is the same one it uses today, any alternative to Obamacare that doesn’t include an individual mandate — which is to say, any conservative alternative — would be scored by the CBO as falling well short,...
  • Does Consulting Contract Explain Gruber’s False Claims About Senate Health Bill?

    01/11/2010 11:11:16 AM PST · by TexasCajun · 1 replies · 337+ views
    FireDogLake Blog ^ | January 8, 2010 8:12 am | Jon Walker
    MIT economist Jonathan Gruber has, for a long time, been the go-to guy for people who want to defend the Senate bill. (Today Sen. John Kerry has an article on the Huffington Post defending the excise tax in which he quotes only one economist, Jonathan Gruber.) Gruber does not just support the Senate bill, he defends the bill by making completely ridiculous, over-the-top claims about the bill, which border dangerously close to outright lies. For months, I have wondered why Gruber was committing what I considered economic malpractice with his untruthful statements. I previously thought that he was just a...
  • Obamacare architect blasted for ‘deliberate deception’

    11/11/2014 11:49:29 AM PST · by jonatron · 54 replies
    Boston Herald ^ | 11/11/2014 | Richard Weir
    “This bill was written in a tortured way to make sure CBO (Congressional Budget Office) did not score the mandate as taxes. If CBO scored the mandate as taxes, the bill dies. … So it’s written to do that,” Gruber said, suggesting “it would not have passed” if the law “made it explicit” that healthy people would “pay in” and the sick would get money. “Lack of transparency is a huge political advantage,” Gruber continued. “Call it the stupidity of the American voter or whatever, but basically that was really, really critical to get the thing to pass. I wish...
  • BAUCUS: CBO Claims of Lower Premiums Came from Gruber [2009 FLASHBACK]

    11/12/2014 3:54:09 AM PST · by Oldeconomybuyer · 26 replies
    C-SPAN ^ | December 9, 2009 | Sen. Max Baucus
    In addition to CBO, MIT's Jon Gruber has also done a study on premiums. And what does he conclude? He concludes, using Congressional Budget Office data, the Senate bill could mean people purchasing individual insurance would save every year $200 for single coverage and $500 for family coverage in 2009 dollars. Most people think he is one of the best outside experts. He has big computer models. He takes the CBO data and, in some respects, he has helped CBO by giving some information to CBO that it otherwise does not have. Mr. Gruber also points out that people with...
  • Jeanne Shaheen's Dishonest Claim That Obamacare Doesn't Cut Medicare

    11/13/2014 6:07:10 AM PST · by KeyLargo · 1 replies
    Forbes ^ | 10/22/2014 | Avik Roy
    Healthcare, Fiscal, and Tax 10/22/2014 Jeanne Shaheen's Dishonest Claim That Obamacare Doesn't Cut Medicare Avik Roy In last night’s U.S. Senate debate in New Hampshire between incumbent Jeanne Shaheen (D.) and challenger Scott Brown (R.), Shaheen uttered a flat-out, bald-faced lie: that Obamacare doesn’t cut Medicare spending to pay for its expansion of coverage to the uninsured. It’s a talking point that a number of Democratic Senate candidates—and their enablers in the lefty blogosphere—have been clinging to. And it’s embarrassingly dishonest. “I want to go back to Scott Brown’s suggestion that we’ve taken three-quarters of a trillion dollars out of...
  • The CBO has not actually scored ObamaCare’s deficit impact since 2012

    10/18/2014 1:23:04 PM PDT · by Sean_Anthony · 2 replies
    Canada Free Press ^ | 10/18/17 | Alan Joel
    ObamaCare is now projected to get $262 billion less in (non-coverage-related) revenue Hats off to The Weekly Standard for delving into the question of ObamaCare costs. The Senate Budget Committee (SBC) took the time to analyze the Congressional Budget Office (CBO) projections related to ObamaCare and this is what they found: **“The Congressional Budget Office (CBO) has not actually scored the deficit impact of ObamaCare since the summer of 2012”.
  • CBO: Cost of Obamacare Subsidy Will Increase 8-Fold in 10 Years

    09/15/2014 7:59:55 PM PDT · by Nachum · 20 replies
    cns news ^ | 9/15/14 | Terence P. Jeffrey
    (CNSNews.com) - The cost of the Obamacare subsidy that the U.S. Treasury will pay on behalf of people who earn under 400 percent of the federal poverty level and who buy a government-approved health-care plan on a government-run health-insurance exchange will increase by approximately 8-fold in its first ten years of operation, according to the latest budget estimate from the Congressional Budget Office. Medicaid spending will double in the first ten years of full implementation of Obamacare, according to the CBO estimates.
  • CBO revises estimate, warns U.S. economic growth will underwhelm in 2014

    08/27/2014 1:35:40 PM PDT · by SeekAndFind · 25 replies
    Hotair ^ | 08/27/2014 | Noah Rothman
    The Congressional Budget Office released a bit of a good news/bad news report on Wednesday regarding the state of the U.S. economy and federal budget. In the bad news column, CBO projected 2014’s GDP growth at just 1.5 percent. The report blamed this revision on “the surprising economic weakness in the first half of the year.” In early June, the International Monetary Fund projected the United States to grow by just 2 percent this year, revising its own estimate down from a previously anticipated 2.7 percent GDP expansion. This report is not likely to be warmly greeted by the...
  • National debt has doubled since financial crisis: Congressional Budget Office

    08/27/2014 9:24:30 AM PDT · by SeekAndFind · 11 replies
    Washington Examiner ^ | 08/27/2014 | BY JOSEPH LAWLER
    The federal debt this year will be double what it was before the financial crisis, Congress’ official budget scorekeeper projected Wednesday morning. The debt is on pace to reach 74 percent of the country’s economic output by the end of the year, double what it was in 2007 and the highest percentage since 1950, according to the Congressional Budget Office. In its update to its projections for the budget and economy, the agency slightly upped its estimate for the 2014 deficit, which it now expects to total $506 billion, a $170 billion decline from 2013. The federal debt this year...
  • CBO forecasts $506 billion budget deficit for 2014 (1.5% GDP)

    08/27/2014 7:41:15 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | August 27, 2014 | By Robert Schroeder
    The Congressional Budget Office on Wednesday raised its estimate of the federal government’s budget deficit for the current fiscal year as it slashed its growth forecast, and warned red ink was due to rise in coming years if Washington doesn’t change current laws. In an update of budget and economic projections for 2014 to 2024, the nonpartisan CBO said the U.S. government’s deficit for fiscal 2014 will be $506 billion, or 2.9% of gross domestic product. The new estimate is $14 billion more than the agency’s prior estimate for the year, issued in April. The agency lowered its projection of...
  • No Taxing Our Way Out of Looming Health Spending Crisis

    07/21/2014 10:55:41 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | July 21, 2014 | Mallory Carr
    The fiscal train wreck that Obamacare and other health care entitlements will inevitably cause is quickly approaching—and no amount of tax increases can save us from the crash. Although the “Eat the Rich” and “Tax the one percent” way of thinking is currently in vogue, these catchy sound-bites remain nothing more than pithy slogans. Not only can the “rich” not pay it off, but if Congress does not act, the rich, the middle class, and the poor together will not be able to cover the tab. Making matters worse, taxes are scheduled to increase significantly on earners in all income...
  • CBO projects massive deficits in coming years

    07/16/2014 7:22:52 AM PDT · by SeekAndFind · 14 replies
    American Thinker ^ | 07/16/2014 | Rick Moran
    The Congressional Budget Office has looked into its crystal ball and sees the deficit getting much worse in a few years, rising to 106% of GDP by 2039.The Obama administration has been celebrating a reduction in the budget deficit to $583 billion dollars for this fiscal year. I suppose that's better than trillion dollar deficits but I see no cause for triumphalism, especially when you consider the government is taking in a record amount of revenue. But CBO says that deficit reduction won't last and that we can expect rising deficits to begin again in a few years. Politico: In...
  • The Continuing Obamacare Nightmare

    06/10/2014 8:13:00 AM PDT · by Kaslin · 9 replies
    Townhall.com ^ | June 10, 2014 | David Limbaugh
    While President Obama diverts the nation's attention with his other myriad scandals, the Obamacare Express continues to careen off the rails, leaving a wide path of destruction and rendering its supporters defenseless. The latest outrage, in a yearslong string, is that at least 4 million of the 8 million total Obamacare sign-ups contain flawed applications, according to a report by House Republicans. But this isn't some arbitrarily divined number chosen by Republicans for political purposes. It is based on a chart prepared by federal Obamacare contractor Serco that shows more than 4 million application discrepancies as of May 27. These...
  • CBO Quietly Drops Forecast That Obamacare Will Cut the Deficit

    06/05/2014 12:20:32 PM PDT · by NormsRevenge · 16 replies
    Yahoo Finance ^ | 6/5/14 | Eric Pianin - The Fiscal Times
    One of the Obama administration's major selling points in passing the Affordable Care Act in 2010 was a Congressional Budget Office forecast that the controversial legislation would reduce the deficit by more than $120 billion over the coming decade. The CBO has consistently projected that President Obama's overhaul will reduce the deficit, and the agency estimated that the Republicans’ 2011 effort to repeal the legislation would increase deficits by $210 billion from 2010 to 2021. In April, the agency quietly signaled that it can no longer make that projection; that the law had been changed and delayed so much that...
  • CBO ON OBAMA BUDGET: HIGHER DEFICITS THAN CLAIMED

    04/17/2014 2:11:18 PM PDT · by Jim Robinson · 13 replies
    Breitbart ^ | April 17, 2014 | AP
    WASHINGTON (AP) — A report released Thursday by the nonpartisan Congressional Budget Office says President Barack Obama's budget request would mean significantly larger budget deficits than the White House claims. CBO says the budget plan proposed last month by Obama would produce deficits of $6.6 trillion over the next 10 years — $1.6 trillion more than the White House estimates. The main reason is that the White House has a rosier estimate of the economy's performance over the decade than CBO. That means the administration predicts higher tax revenues. The president's budget is just a proposal; it has gained little...
  • The CBO Gets It Very Wrong on ObamaCare

    04/16/2014 4:32:44 AM PDT · by IBD editorial writer · 17 replies
    Investor's Business Daily ^ | 04/15/2014 | IBD Staff
    Failure: ObamaCare fans are cheering the latest Congressional Budget Office report, which appears to show that it will cost less and cover more people than expected. But that's true only if you ignore reality. We don't always agree with the CBO, but we have long respected it as a credible source of budget numbers. Sure, its projections almost never turn out to be true. But simply too many variables are at play for anyone to guess such things perfectly, and it provides a more or less independent source of information on highly charged, partisan issues. But the CBO's latest report...