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WASHINGTON (AP) — 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 not backing away from their promise to repeal "Obamacare."
But repealing the law's spending cuts and tax increases would add $137 billion to the federal deficit over the coming decade, CBO said in the report issued Friday, even though almost $1.7 trillion in coverage costs would disappear. Repeal would reduce deficits in the first few years but increase them steadily as time goes on.
Better yet, give us a single-payer system or some kind of true universal system, and it'll save us more money than both the current system with Obamacare and the previous system pre-Obamacare.
Can't work for ER's with EMTALA. But even then the total give away is not a major driver of overall HC costs. And non-citizens do pay taxes that tend to mitigate the numbers.
Even better the latest CBO says repealing it would increase the deficit....and thats even using the "new math" that the GOP forced them to use, AND with new GOP leadership-since the prior leadership was too factual and reality based apparently.
Seems even with new math, and leadership that wants to twist the numbers....the GOP still can't manage to twist the CBO numbers enough.
Repeal of the excise tax on high-cost plans is a major reason why deficits would increase in later years, because more and more plans would be hit by this "Cadillac tax."
So much of the out year deficit reduction effect comes from forcing employers to either downgrade or pay massive taxes on good healthcare benefits, and then when those of us who get our benefits through work have them cut the money that was paying for them will go to either profits and/or salaries, which are then hit by federal taxation.
I care a lot about fiscal responsibility but come on guys the "Cadillac tax" is horrifically bad. It doesn't effect the rich at all and will do serious, tangible QOL reducing harm to the middle class. No one should be cheering for it.
I can only imagine what your response would be if we kept adding to the deficit. You sound like you don't support a sound economy.
Every substantial reduction in the deficit has resulted in recession. Why do you think the U.S. economy has contracted so far in 2015?
Sounds like you don't understand sound economics.
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