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Keyword: cbo

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  • The Runaway Entitlement Train

    04/03/2017 6:19:36 PM PDT · by 198ml · 18 replies
    Debtor Nation: In its latest long-term budget outlook, the Congressional Budget Office warns that our budget is seriously out of whack and endangers our nation's future. While the report will likely be ignored in Washington by politicians who like spending your money, American taxpayers would be wise to heed its message. The CBO has its issues as a prognosticator, especially when it comes to "scoring" congressional bills. But its long-term forecast for the budget is the equivalent of a horn sounding on a faraway train coming down the track: If you're on the track, you ignore the sound of that...
  • It’s Working: The CBO Projections For Obamacare Enrollment Were Way Off…Like By Millions

    03/20/2017 6:35:36 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | March 20, 2017 | Matt Vespa
    While the Congressional Budget OfficeÂ’s projections on the GOP Obamacare replacement bill have rattled the ranks of the moderate Republican faction in the House, letÂ’s also not forget that this agency is flawed as well. Yes, the fact that premiums wonÂ’t be curbed and that over 20 million more Americans probably wonÂ’t have health insurance by 2020 isn't good. ItÂ’s one of the reasons why moderate GOP lawmakers have started to run for the hills, but letÂ’s not forget that the CBO also projected that 24 million people would be signed up for Obamacare by 2017. As Ali Meyer at...
  • The CBO Score, Patients Losing Insurance Coverage and Other Myths of This Healthcare Debate

    03/20/2017 6:45:34 AM PDT · by Kaslin · 1 replies
    Townhall.com ^ | March 20, 2017 | Hal Scherz
    There are problems with the debate over healthcare and “reforming” it. The first is that the Progressive Left has defined the terms under which we discuss healthcare. The second is that the GOP is terrible at messaging their solutions. Examine the CBO claim that 24 million people will lose health insurance coverage under the American Health Care Act (AHCA). The only way that people lose their coverage is if the government is giving it to them. Let this sink in. That logic may be true for the greater than 50% of healthcare already being provided through Medicare, Medicaid, CHIP, VA...
  • CBO’s Alternate Facts about Obamacare: Congress should set policy based on reality, not speculations

    03/16/2017 11:41:39 AM PDT · by SeekAndFind · 2 replies
    National Review ^ | 03/16/2017 | Doug Badger
    Millions may lose coverage next year if Congress does not repeal Obamacare. That’s not what this week’s Congressional Budget Office (CBO) analysis says, but it is reality. CBO’s estimating models seem impervious to reality. In the real world, the Obamacare exchanges are in crisis, millions of uninsured people willingly pay or avoid IRS penalties, and consumers struggle with rising premiums and cost-sharing requirements. But for CBO, Obamacare is a sea of tranquility. The agency assumes that only 26 million people under the age of 65 will be uninsured this year and next if Obamacare is left in place. To...
  • CBO Takeaway: Full Repeal Would Insure More People than ObamaCare-Lite

    03/15/2017 11:07:42 AM PDT · by TBP · 6 replies
    Foundation for Economic Education ^ | March 15, 2017 | Michael F. Cannon
    A new Congressional Budget Office report projecting the effects of the House Republican leadership’s American Health Care Act weakens the case for the bill’s ObamaCare-lite approach, and strengthens the case for full repeal. The CBO projects that over the next two years, the AHCA would cause average premiums to rise 15 percent to 20 percent above ObamaCare’s already high premium levels. The report raises the prospect that insurance markets may collapse under the AHCA, just as they are collapsing under ObamaCare. It makes unreasonable assumptions about Medicaid spending; more reasonable assumptions could completely eliminate the bill’s projected deficit reduction. Finally,...
  • Things You Should Never Believe

    03/15/2017 6:40:07 AM PDT · by NOBO2012 · 12 replies
    Michelle Obama's Mirror ^ | 3-15-2017 | MOTUS
    A new game: It’s called Things You Should Never Believe. And why can you never believe them? Because they are always bogus, which is to say, they lie.1. CBO - The Congressional Budget Office; they lie regardless of which party is in power and cannot be trusted to be anything remotely close to accurate. Remember when they scored the Affordable Care Act? Health Reform: Remember when Democrats were promising that ObamaCare would cut the deficit by $1 trillion in its second decade? Turns out they were off by, well, about $1 trillion. And even that’s assuming that: ObamaCare's extraordinarily deep...
  • Things You Should Never Believe

    03/15/2017 6:36:42 AM PDT · by NOBO2012
    Michelle Obama's Mirror ^ | 3-15-2017 | MOTUS
    At 7:36 pm Tuesday night, Rachel Maddow tweeted “BREAKING: We've got Trump tax returns. Tonight, 9pm ET. MSNBC. (Seriously),” sending the internet into a frenzy of theorizing. Did Maddow have Donald Trump’s tax returns or just one of the Trumps’ tax returns? Could this be it, the tax return that would bring down the Donald? If this was it, why wasn't MSNBC cutting into its programming, instead of running a countdown clock to Maddow’s show? By 8:24, Maddow was tweeting that the tax return in question was Donald Trump’s 1040 from 2005. By 8:30, still half an hour before Maddow...
  • CBO: Full Repeal of Obamacare Insures MORE Americans than Ryan’s Obamacare-lite Plan

    03/14/2017 4:16:41 PM PDT · by cotton1706 · 46 replies
    Breitbart.com ^ | 3/14/17 | Sean Moran
    According to Congressional Budget Office (CBO) projections, a full repeal of Obamacare would insure more Americans than Speaker Paul Ryan’s Obamacare-lite reforms. The CBO’s analysis on the Republican leadership’s plan to repeal Obamacare predicts it would drop insurance for 14 million people in 2018, while 24 million would lose insurance by 2026. Compared to these figures, the CBO’s research on the 2015 full repeal bill indicated it would insure more Americans than the Ryan plan. Phillip Klein, managing editor of the Washington Examiner, stated that despite the Ryan plan doling out billions of dollars in tax credits, the plan also...
  • OMB Director Mick Mulvaney makes mincemeat of CBO scoring of health care plan

    03/14/2017 12:30:23 PM PDT · by governsleastgovernsbest · 20 replies
    Legal Insurrection ^ | Mark Finkelstein
    If you haven’t seen OMB Director Mick Mulvaney in action, do yourself a favor and watch the video here. On today’s Morning Joe, Mulvaney showed himself to be smart, well-spoken, undefensive and down-to-earth as he systematically demolished Mika’s, and by extension, the CBO’s, claims about the Trump admin’s health care proposal. Before Mulvaney appeared, the panel had engaged in extended hand-wringing over the loss of coverage that the CBO has projected. Mulvaney made three telling points: View the video here.
  • Don't Trust Those CBO Health Care Numbers

    03/14/2017 3:42:47 AM PDT · by IBD editorial writer · 12 replies
    Investor's Business Daily ^ | 3/13/2017 | Staff
    Health Reform: Democrats are no doubt gleeful that the Congressional Budget Office says the Republican health plan would leave 24 million more people uninsured by 2026. But there's no reason to rely on the CBO, since they were wildly off the mark in predicting how well ObamaCare would work. Shortly before President Obama signed ObamaCare into law, the CBO announced its findings that the health reform would cut the deficit in the first decade by a modest $119 billion, and possibly slash them by a trillion dollars in the second decade. The CBO also predicted that 23 million people would...
  • Trump administration disagrees with CBO report on health care

    03/13/2017 9:35:28 PM PDT · by Innovative · 89 replies
    Fox News ^ | March 13, 2017 | Fox News
    The Trump administration on Monday lashed out at the Congressional Budget Office’s report that estimated that about 24 million more Americans in a few years would be uninsured under the new legislation. The bill, called the American Health Care Act, would be “less generous” with new tax credits for those receiving subsidies under the current law and the plan would likely increase average premiums in the nongroup market until 2020. Tom Price, the Health and Human Services secretary, downplayed the report and said, “we disagree strenuously with the report that was put out. It’s just not believable is what we...
  • CBO: AHCA saves $337B on deficit spending, but increases uninsured by 14 million in 2018

    03/13/2017 9:31:31 PM PDT · by SeekAndFind · 42 replies
    Hotair ^ | 03/13/2017 | Ed Morrissey
    Republicans in the House and Senate wanted to see a score from the Congressional Budget Office on the American Health Care Act before casting a vote either way. The CBO obliged today, giving AHCA backers good news for budget hawks, but potentially bad news on the political front. Despite assurances that the effort would not leave Americans behind, CBO estimates that fourteen million Americans would be added to the rolls of the uninsured, while the AHCA saves the federal government $337 billion in deficit spending over the next decade: CBO and JCT estimate that enacting the legislation would reduce...
  • CBO conforms: Full repeal of Obamacare is the ONLY way forward

    03/13/2017 6:17:55 PM PDT · by 198ml · 52 replies
    Conservative Review ^ | 3/13/17 | Daniel Horowitz
    Just as we predicted, the Congressional Budget Office (CBO) has released a report demonstrating that the “too-clever-by-half” approach of RINOcare will result in the worst possible outcome for insurance prices and coverage numbers. It’s clear that by exacerbating the death spiral of the existing failed market before 2020, the political reality will ensure that even the minor reforms implemented to Medicaid and the exchange subsidies in 2020 will never occur. And the disaster will all be blamed on a wrongly-perceived Obamacare repeal bill instead of Obamacare itself. Full repeal is the only solvent way forward.
  • 39.1%: CBO Says U.S. Has Highest Top Statutory Corporate Tax Rate in G20

    03/10/2017 4:06:25 AM PST · by Olog-hai · 8 replies
    Cybercast News Service ^ | March 9, 2017 | 9:36 AM EST | Terence P. Jeffrey
    The United States has the highest top statutory corporate tax rate—39.1%—of any nation in the G20, according to a study released Wednesday by the Congressional Budget Office. That rate is nearly twice as high as the 20-percent rate in Russia, which, along with Saudi Arabia and Turkey, has the lowest statutory corporate tax rate in the G20. The U.S. won the top spot on the statutory-corporate-tax-rate list after Japan and Germany, which formerly ranked first and second, cut their rates. “The United States made no change in federal corporate tax rates between 2003 and 2012,” said the CBO, “and by...
  • New study: Trump to inherits $559B deficit, stable economy [says CBO]

    01/24/2017 7:33:13 AM PST · by Olog-hai · 24 replies
    Associated Press ^ | Jan 24, 2017 10:16 AM EST | Andrew Taylor
    Congressional analysts Tuesday projected that President Donald Trump has inherited a stable economy and a government that is on track to run a $559 billion budget deficit for the ongoing budget year. The new estimates from the nonpartisan Congressional Budget Office say the economy will hold relatively steady, with economic growth rising slightly to 2.3 percent this year and unemployment averaging less than 5 percent for the duration of Trump’s term. Trump is promising higher growth as his administration curbs regulations, overhauls the tax code, and repeals the Affordable Care Act, former President Barack Obama’s signature accomplishment. …
  • The Congressional Budget Office has some bad news for Obamacare repealers

    12/29/2016 10:50:33 AM PST · by Ernest_at_the_Beach · 38 replies
    Yahoo [Vox.com] ^ | December 28, 2016 | Sarah Kliff Vox.com
    The Congressional Budget Office has stepped into the Obamacare repeal fight, issuing a fierce warning to Republicans in the form of … a sternly worded blog post. CBO is the government’s nonpartisan scorekeeper, the agency that tells Congress how much new programs cost and who they’ll cover. This is important, because in principle you could provide insurance coverage to everyone while spending practically nothing if you were willing to make the insurance totally worthless.
  • CBO backs off plan to tax cars by the mile

    12/11/2016 7:20:24 AM PST · by kevcol · 40 replies
    The Washington Examiner ^ | December 9, 2016 | Pete Kasperowicz
    The Congressional Budget Office this week backed away from the idea of taxing cars based on how far they drive in order to boost federal highway taxes, after initially saying the idea is one that could be explored. . . . The Obama administration and others have floated the idea of imposing a tax on vehicle miles traveled tax, or a VMT tax, which would charge people based on how far they drive. And in 2011, CBO put out a report that said this was a "practical" option in light of new technology that makes it easier to track cars...
  • The CBO Looks Ahead to a U.S. Fiscal Disaster

    07/23/2016 5:59:34 AM PDT · by reaganaut1 · 100 replies
    Barron's ^ | July 23, 2016 | THOMAS G. DONLAN
    The American debt problem was almost entirely ignored at the Republican National Convention last week, and we can expect nothing more when the Democrats gather this week. Both parties support the entitlement spending system and the decrepit tax system that fails to support it. They compete on the fiscal side of politics with impossible promises to spend more and tax less. Imagine the U.S. Treasury as an airplane beginning to roll down the runway to take off. For a mile or so, the plane gains no altitude, then the wings start to generate lift. The wheels leave the ground and...
  • 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...