Keyword: cbo

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  • Botched Obamacare forecasts have CBO on the hot seat

    01/26/2018 11:46:37 AM PST · by Red Badger · 12 replies ^ | Wednesday, January 24, 2018 | By David Sherfinski
    Congress’ chief scorekeeper said Wednesday it botched some of its original Obamacare estimates, and its employees have to make “trade-offs” as they confront the heavy workload from lawmakers. Keith Hall, director of the Congressional Budget Office, said they were off in their guess for enrollment in Obamacare’s exchanges, though he said so were other analysts. “Sometimes it’s really hard to estimate these things,” Mr. Hall said Wednesday. “Certainly with the exchanges, we were off — we weren’t as far off on things like the actual spending, some other things — but everybody else was as well. We can be off...
  • The CBO’s Cryptic Approach To Scoring Laws Undermines Public Confidence

    07/26/2017 7:18:41 AM PDT · by davikkm · 10 replies
    breitbart ^ | JOHN CARNEY
    Efforts by Republican lawmakers to repeal the Affordable Care Act in recent months have repeatedly collapsed after the Congressional Budget Office (CBO) scored the various bills using a closely guarded analytic process done entirely behind closed doors. As Republicans released proposed legislation, the CBO announced its views about its effect on the federal budget and how it would affect the number of people without health insurance but didn’t provide a clear account of how those numbers were reached. The lack of transparency about the basis for the CBO’s findings makes it difficult for either experts or the broader public to...
  • CBO's Secret: 73% Of Coverage Difference Between Obamacare & GOP Bills Driven By Individual Mandate

    07/24/2017 10:13:48 AM PDT · by Lorianne · 17 replies
    Forbes ^ | 22 Juy 2017 | Avik Roy
    If you’ve read a newspaper or watched cable news in the last month, you’ve probably seen someone say that the Senate GOP health care bill would “kick 22 million Americans off of their health insurance.” But it’s not true. New information from the Congressional Budget Office—leaked to me by a congressional staffer—shows why. CBO’s faith in the individual mandate’s magical powers For years, the CBO has been convinced—despite real-world experience to the contrary—that Obamacare’s individual mandate is the biggest reason why that law has increased the number of Americans with health insurance. When Senator Barack Obama ran against Hillary Clinton...
  • Avik Roy: Why CBO Projections Of GOP Health Bills All Look About The Same

    07/23/2017 2:31:31 PM PDT · by SeekAndFind · 8 replies
    HotAir ^ | 07/23/2017 | John Sexton
    If you’ve been following the health care debate for the past several months you’ve seen the estimates put out by the Congressional Budget Office. All of those estimates have shown millions fewer people would have insurance in 2026 under the GOP plans. In fact, different approaches to the bill haven’t seemed to make much of a difference in the CBO’s projections. From National Review: Do you want to repeal every word of Obamacare and replace it with nothing? CBO says 22 million fewer people would have health insurance. Do you prefer replacing Obamacare with a system of flat tax...

    07/19/2017 3:34:47 PM PDT · by COBOL2Java · 77 replies
    Ann Coulter ^ | July 19, 2017 | Ann Coulter
    I think I've found the core problem with health care in America. And guess what? It involves Delta Airlines! A few weeks ago, MSNBC's Rachel Maddow was going on and on about a "single insurance provider" that pays for 49 percent of all births, as well as full health care costs of almost 40 percent of all children in the United States. This single "insurer," Maddow said, was the biggest "health insurance provider in the country by a mile." Maddow was talking about Medicaid, which, of course, is not "insurance" but "welfare." When we're allowed to call things whatever we...
  • The CBO and its big lie: Their assumptions fail to understand human behavior.

    07/17/2017 9:09:01 AM PDT · by SeekAndFind · 5 replies
    American Thinker ^ | 07/17/2017 | Howard J. Warner
    As the CBO studies the revised Senate healthcare reform bill, both sides of this debate await their prognostication regarding the economics and numbers of covered individuals.  Their analysis may provide cover for the difficult political decisions that the spineless Republicans will make regarding any reform legislation.  Already, the Washington Post is calling its analysis “fake news” as it fears its analysis will improve the prospects of passage of a revised Senate bill. The CBO was created to allow Congress an analysis of legislative costs independent of the OMB analysis.  The OMB, which can be subject to the political whims...
  • Yes, Virginia, You Can Cut Taxes And Deficits At The Same Time — Just Ask The CBO

    07/14/2017 9:03:08 AM PDT · by SeekAndFind · 2 replies
    IBD ^ | 07/14/2017
    Budget: President Trump's budget plan doesn't come close to balancing the books, according to the Congressional Budget Office. But it does cut the deficit in half, even while reducing taxes. The CBO's analysis of Trump's budget says that it would, if enacted, produce a deficit of $720 billion in 2027, not the small surplus Trump claimed. That's what made the headlines. But as if often the case, it's what didn't make the headlines — or get pundit tongues wagging — that matters. In this case, it's the fact that almost the entire difference between the CBO's and Trump's view is...
  • CBO Releases Report on Pres. Trumo's Proposed Budget

    07/14/2017 7:10:16 AM PDT · by Principled · 25 replies
    One America News Network ^ | 7-14-2017 | OAN Newsroom
    Office of Management and Budget Director Mick Mulvaney said Wednesday the Congressional Budget Office sabotaged scoring of the Republican health care bill. (Photo/AARON P. BERNSTEIN/REUTERS) July 14, 2017 OAN Newsroom The Congressional Budget Office says President Trump’s proposed budget would slash the deficit and greatly help the economy. Analysis by the CBO claims the 2018 budget would reduce the deficit by $160 billion, while increasing the GDP. Additionally, cuts to health care spending would save the economy over one trillion dollars over the next decade. The White House says it is thrilled by the CBO’s analysis, and claims the president’s...
  • CBO and OMB Agree: Federal Spending Will Top $4T for First Time This Year

    07/06/2017 10:14:55 AM PDT · by BradtotheBone · 8 replies
    CNSNEWS.Com ^ | July 6, 2017 | Terence P. Jeffrey
    ( - Both the Congressional Budget Office and the White House Office of Management and Budget project that federal spending will top $4 trillion for the first time in fiscal 2017, which began on Oct. 1, 2016 and will end on Sept. 30. In its “Update to the Budget and Economic Outlook: 2017 to 2027” published last week, CBO projected that total federal spending in fiscal 2017 will hit $4,008,000,000,000. That is up from the approximately $3,853,000,000,000 that CBO and OMB say the federal government spent in fiscal 2016. In President Donald Trump’s fiscal 2018 budget proposal, the OMB estimates...
  • ‘Obamaphone’ program stashes $9 billion in private bank accounts

    06/30/2017 3:28:57 PM PDT · by ColdOne · 65 replies ^ | 6/30/17 | Stephen Dinan
    The controversial “Obamaphone” program, which pays for cellphones for the poor, is rife with fraud, according to a new government report released Thursday that found more than a third of enrollees may not even be qualified. Known officially as the Lifeline Program, the phone giveaway became a symbol of government waste in the previous administration. Now a new report from the Government Accountability Office bears out those concerns. The report, requested by Sen. Claire McCaskill, Missouri Democrat, also says the program has stashed some $9 billion in assets in private bank accounts rather than with the federal treasury, further increasing...
  • CBO: Treasury to run out of cash in next 3 days, leading to default or delay in payments.

    06/30/2017 2:11:36 AM PDT · by gattaca · 39 replies
    Free Beacon ^ | Jun e30, 2017 | Ali Meyer
    The amount of money the government spends on programs and the amount it collects in taxes could change from the budget office projections, so the office warns that the Treasury could run out of funds even earlier. Currently, the federal deficit stands at $693 billion, which is an increase of $134 billion than what it projected in January. The federal government has an outstanding debt of $19.8 trillion, which includes $14.3 trillion in public debt and $5.5 trillion held by government accounts. Spending on major government programs such as Social Security and Medicare causes the amount of borrowing to increase....
  • CBO: By 2026, Senate Health Bill Would Leave 22 Million More Uninsured Compared To Current Law

    06/27/2017 7:45:09 AM PDT · by SeekAndFind · 24 replies
    Hotair ^ | 06/27/2017 | John Sexton
    The CBO says the Senate health reform bill would leave 22 million more people uninsured in 2026 compared to current law. That’s a slight improvement over the House bill which the CBO said would leave 23 million uninsured the same year. The CBO does note that the majority of this change next year would be the result of eliminating the penalty on not having insurance. From the CBO report: CBO and JCT estimate that, in 2018, 15 million more people would be uninsured under this legislation than under current law—primarily because the penalty for not having insurance would be...
  • CBO: Senate GOP health-care bill would leave 22 million more people uninsured by 2026

    06/26/2017 1:44:11 PM PDT · by westnews · 72 replies
    The Washington Post ^ | 6/26/2017 | Amy Goldstein
    Senate Republicans’ bill to erase major parts of the Affordable Care Act would cause an estimated 22 million more Americans to be uninsured in the coming decade — about 1 million fewer than similar legislation recently passed by the House, according to the Congressional Budget Office.
  • 22m Americans to lose cover in Senate healthcare bill

    06/26/2017 2:32:13 PM PDT · by Ennis85 · 61 replies
    BBC News ^ | 26th June 2017 | BBC News
    Some 22 million Americans could lose their health insurance over the next decade under a Senate bill to replace Obamacare, a congressional report says. However, the bill would reduce the budget deficit by a total of $321bn (Ł252bn) in 2017-2026, the non-partisan Congressional Budgetary Office said. Similar legislation passed by the House of Representatives was also said to be likely to leave millions uninsured. A number of Republicans have expressed reservations about the Senate plan. The draft legislation, unveiled last week, is unlikely to be approved by Democrats, who see it as cruel and unfair. President Donald Trump's Republican party...
  • H.R. 1628, American Health Care Act of 2017

    05/25/2017 11:12:04 AM PDT · by leprechaun9 · 4 replies
    CBO ^ | May 24, 2017 | CBO
    Uncertainty Surrounding the Estimates The ways in which federal agencies, states, insurers, employers, individuals, doctors, hospitals, and other affected parties would respond to the changes made by the legislation are all difficult to predict, so the estimates discussed in this document are uncertain.
  • 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 ^ | 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 ^ | 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,...