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CBO found that the House tri-committee bill would increase the federal budget deficit by $239 billion over 10 years -- not $1 trillion. In its July 17 cost estimate of the bill as introduced, CBO explained that its "estimate reflects a projected 10-year cost of the bill's insurance coverage provisions of $1,042 billion, partly offset by net spending changes that CBO estimates would save $219 billion over the same period, and by revenue provisions that [the Joint Committee on Taxation] estimates would increase federal revenues by about $583 billion over those 10 years."
In its report, the CBO estimated the bill will cost about $1.04 trillion over 10 years. That sum would be partially offset by $219.3 billion in Medicare savings and by $583 billion in tax increases over the same amount of time.
Still, the bill would create a $239 billion deficit, according to CBO.
CBO found that the House tri-committee bill would increase the federal budget deficit by $239 billion over 10 years -- not $1 trillion. In its July 17 cost estimate of the bill as introduced, CBO explained that its "estimate reflects a projected 10-year cost of the bill's insurance coverage provisions of $1,042 billion, partly offset by net spending changes that CBO estimates would save $219 billion over the same period, and by revenue provisions that [the Joint Committee on Taxation] estimates would increase federal revenues by about $583 billion over those 10 years."
More unbias? Why do some on the right use CBO when the claim was 1 trillion?
You see, delu's thread, title and post are misleading, to say the least. As you can see by the fact checker, the $239 billion deficit over 10 years is what it would cost if congress made the changes they asked the CBO to score. That does NOT include the $800+ billion the plan would actually cost - to be paid for on the backs of the "rich".
Can you not read and comprehend what you are reading?
The COST is well over $1 trillion.
Quote:
In its report, the CBO estimated the bill will cost about $1.04 trillion over 10 years. That sum would be partially offset by $219.3 billion in Medicare savings and by $583 billion in tax increases over the same amount of time.
Still, the bill would create a $239 billion deficit, according to CBO.
"Still, the bill would create a $239 billion deficit, according to CBO."
So the total is $239B, not a trillion! and that's just what's anticipated now - further cuts and savings are certainly possible! Get lunch! Cheer up!
Honey, that refers to only part of what the legislation covers. And this ain't just my opinion. You really need to do better research. Not only that, it all depends on what fiscal assumptions one is making.
And . . . as you are so fond of noting, "there is no bill." These figures have been compiled from assumptions from legislation that has changed since the last time it was submitted to CBO.
No one has a clue how much this is gonna cost us. But seeing as how the Medicaid and Medicare funds are already running in the red, whatever it is gonna cost - it is gonna be TOO MUCH.
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