Posted on 05/05/2018 9:18:13 AM PDT by Kaslin
No, they scored it as reducing the deficit in the long term, not the budget.
The ACA was supposed to raise taxes by a little more than the program cost, thus reducing the deficit.
Yes, I misspoke. Deficit, not budget.
Here’s a question, since you’re so quick, and I don’t remember: Was the deficit forecast to decline due to reduced outlays or increased funding?
Funding, absolutely.
There was no question that Ocare involved new spending, but the new medical device tax, penalties for non-coverage, Cadillac tax, and the surtaxes on high earners were to more than cover it, thereby reducing the deficit.
And to be really anal, it's not the deficit either. It's the "budget deficit," or even more precisely, the "federal budget deficit." :)
Thanks for the refresher. Was only 2009, but that’s actually quite a long time ago now!
$20T @ 2% = $400B. 2% is a below average rate.
Avg rate is 5%.
$20T @ 5% = $1T.
5% is an average rate. The rate could go higher in the next 10 years.
And that is without borrowing a single extra dollar - simply based on current debt (actually - the figure is now higher).
Only around $15T is “public” - meaning outside of intra-governmental loans (like the Social Security “trust fund” that Congress spends out of illegally)
Supposedly - current year debt interest being paid out by Federal Government is between $300-400 BILLION -
It is my long-held contention that the CBO has NEVER BEEN CORRECT IN ANY PROGNOSTICATION!
Can anyone show me a time the CBO got it right?
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