If video fails, go to http://divine-ripples.blogspot.com/2011/01/gop-will-disappoint-sometimes-shouldnt.html
Jan 8, 2011
CBO Says Repealing ObamaCare Would Reduce Net Spending by $540 Billion in Letter to Congressional Staffers!
The Congressional Budget Office, in an email to Capitol Hill staffers obtained by the Spectator, has said that repealing the national health care law would reduce net spending by $540 billion in the ten year period from 2012 through 2021. That number represents the cost of the new provisions, minus Medicare cuts. Repealing the bill would also eliminate $770 billion in taxes. It’s the tax hikes in the health care law (along with the Medicare cuts) which accounts for the $230 billion in deficit reduction.
Full email, from Edward “Sandy” Davis, CBO’s Associate Director for Legislative Affairs, below.
To interested Hill staff:CBO and the staff of the Joint Committee on Taxation (JCT) have not yet developed a detailed estimate of the budgetary impact of H.R. 2, the Repealing the Job-Killing Health Care Law Act, which would repeal the major health care legislation enacted in March 2010. Yesterday, we released a preliminary analysis of that legislation indicating that, over the 2012-2021 period, the effect of enacting H.R. 2 on the federal budget as a result of changes in direct spending and revenues is likely to be an increase in deficits in the vicinity of $230 billion, plus or minus the effects of forthcoming technical and economic changes to CBO’s and JCT’s projections for that period.We have been asked to provide the revenue and direct spending components of that total. Extrapolating the estimated budgetary effects of the original health care legislation and accounting for the effects of subsequent legislation, CBO anticipates that enacting H.R. 2 would probably yield, for the 2012-2021 period, a reduction in revenues in the neighborhood of $770 billion and a reduction in outlays in the vicinity of $540 billion, plus or minus the effects of forthcoming technical and economic changes to CBO’s and JCT’s projections.CBO will post a Director’s blog with this information on the CBO website shortly. Please let me know if you have any questions.SandyEdward “Sandy” DavisAssociate Director for Legislative AffairsCongressional Budget Office
Subscribe to:
Posts (Atom)
Popular Posts
-
The dam finally burst Wednesday as the mainstream media was forced to begin addressing the many very serious unanswered questions regar...
-
Excerpt from http://conservativereport.org/benghazi-valerie-jarrett-cic/ " The second, and most troubling aspect of the refu...
-
Lila Rose has been criticized of unenthical behavior in her efforts to expose the immoralities and illegal activities of Planned Parenthood ...
-
May 02, 2010 — There was an immigration protest in Downtown Atlanta which revealed some shocking discoveries. The speakers spoke almost enti...
-
Click here for source or type http://www.youtube.com/watch?v=3sTy26XYyN4 In a poignant and powerful metaphor, this video presents the b...
-
This is something about this video - amazing, touching, inspiring. See if it resonates with you and do leave a comment if it does to encour...
-
No wonder people are conflicted. It's that approach-avoid conflict. This video explains it all. http://www.youtube.com/watch?v=9j3_Ki...
-
Dr. Rubinstein asserts that Obama supports the destruction of Israel because the creation of this state has been a historical mistake. If t...
-
Are Card. Wuerl's pastors closet Obama supporters? Dissent within the Archdiocese of Washington D.C.Remember when I posted about how disappointed I was with Card. Wuerl because I did not hear his letter against the HHS mandate read during t...
-
In the past, the US sent observers abroad to monitor the elections. (My uncle was even mistaken to be CIA because he visited during those d...
Blog Archive
- ► 2013 (529)
- ► 2012 (797)
- ▼ 2011 (540)
- ► 2010 (672)