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Friday, January 7, 2011

Surprise! New CBO Report: Repealing ObamaCare Will Reduce Spending By $540B, Taxes By $770B

Color me surprised. Just about every Democrat, lefty blog and media outlet was touting the report from the CBO, which said that repealing ObamaCare would raise the deficit $230 Billion. Of course, they failed to mention how they came up with that number.
To further clarify their findings, the CBO followed up the previous report with one that goes into more detail on how they reached that number. Wouldn’t you know? It said that repealing ObamaCare would result in a massive reduction in spending and taxes. In fact, the $230 Billion amount that they came up with were based off of the tax hikes and Medicare cuts that came with the bill, not because it actually will make healthcare cheaper:

The Congressional Budget Office, in an email to Capitol Hill staffers obtained by the Spectator, has said that repealing the national health care law would reduce net spending by $540 billion in the ten year period from 2012 through 2021. That number represents the cost of the new provisions, minus Medicare cuts. Repealing the bill would also eliminate $770 billion in taxes. It's the tax hikes in the health care law (along with the Medicare cuts) which accounts for the $230 billion in deficit reduction.

Again, we were proven right. This is a disasterous bill that creates a massive new program that requires huge tax hikes to even come close to funding. I tried to find a liberal, who had a comment on the new CBO report, but shockingly, it has been very quiet on the left, today.

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