CBO: Obamacare Repeal Would Save $1.4 Trillion

National Review Online ^ | February 18, 2011 | Andrew Styles

[lbryce]

In a letter to House Speaker John Boehner (R., Ohio), CBO Director Douglas Elmendorf writes:

The enacted legislation contained a set of provisions designed to expand health insurance coverage that was estimated to increase federal deficits. The costs of those coverage expansions—which include the cost of the subsidies to be provided through the exchanges, increased outlays for Medicaid and the Children’s Health Insurance Program (CHIP), and tax credits for certain small employers—will be partially offset by revenues from the excise tax on high-premium insurance plans and net savings from other coverage-related effects. By repealing those coverage provisions of PPACA and the Reconciliation Act, over the 2012-2021 period H.R. 2 would yield gross savings of $1,390 billion and net savings (after accounting for the offsets just mentioned) of $1,042 billion.

The full 20 page letter is available to view at the link provided below.

Link:CBO 20 Page Letter to House Speaker John Boehner

[lbryce]

TexasM1A got it right but let me just say the savings, benefits transcend beyond the realm of financial matters. As far as the budget is concerned, first off there's the $400,000+ salary, then there's Air Force One he uses as his personal flying carpet, taking to the skies on a whim whenever his wanderlust comes to the fore, the urge to apologize for America or bow his sorry head to to the floor becomes too tantalizing to resist. Considering the cost of operating AFO is pegged at $100,000 per hour, it's not too difficult to imagine surpluses very soon.

And when you drop Michelle's squandering our money into the equation.... :-)

[phockthis]

sfl

[Techster]

One trillion 1,000,000,000,000 equals 999,999,999,999 + 1. That is 999 billion, 999 million, 999 thousand, 999 plus 1.