Health care repeal's cost: $230 billion to deficit
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2011/images/01/07/t1larg.capitol.dome.jpg caption="It's one of the promises on which House Republicans campaigned: If elected, we will repeal health care reform." width=300 height=169]
Charles Riley
CNNMoney Staff Reporter
NEW YORK (CNNMoney) - It's one of the promises on which House Republicans campaigned: If elected, we will repeal health care reform.
One problem: Rolling back the law would probably increase federal budget deficits by a total of about $230 billion by 2021, according to a preliminary estimate released Thursday by the nonpartisan Congressional Budget Office.
The long-run outlook isn't any better. The CBO warns that long-term projections are highly uncertain, but said a repeal would increase federal deficits in the decade after 2019 by around 0.5% of GDP.
And that's a major problem for Republicans - who also say they want to reduce the deficit and roll back federal spending to 2008 levels.
However, it's not a complete shock that the CBO's estimate predicts a debt increase if Republicans succeed in repealing the law. After all, the original legislation was predicted to lower the deficit, a key selling point for Democrats.
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Filed under: 360° Radar • Charles Riley • Health Care • Raw Politics |
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The numbers on the health care debate are becoming:-
"An Inconvenient truth for Republicans" in that the CBO predicts the 230BN extra cost to the deficit if repealed.
The Republicans are putting forward a repeal of an act that does not exist officially.
" A repeal of the job killing health care act"
Since no act by that name exists it is a none vote technically and legally.
It is a pure politically biased headline and is being shame facedly reported by CNN as fact! The actual name will be something far less dramatic and have to refer to the specific bill as passed by its correct title, or is even more political theater that you are helping foster and your integrity goes out the window. Along with that of Republicans who created the farce.
No wonder we are losing respect for media and politicians.. who all just chase the sound bite and not facts any more.
Regards,
Hodgson.
When someone is against the health care bill, I would like to hear a specific reason- not just generalizations, but a specific reason why it is bad. I have never heard a reporter stop the ranting and ask what is one specific reason why you think the bill is so bad.
I respect Anderson. I wish he would be the one to ask that question.
Repealing the healthcare bill is ludicrous. Yes, there are problems with the bill but the benefits far out way the problems. I have been lucky working for companies who do not include a preexisting condition clause within the major medical "fine print", but there are may people who aren't so lucky and are in more need for medical coverage than most. A good example is a person with terminal cancer who maxed out their lifetime benefit maximum.
The controversy over Health Care is just one example of how the welfare of the average American is not a real concern for many of those governing our lives. We see the standard of living for Mr Average getting lower while a small minority gets richer and issues such as Health Care take all the attention away from this even greater problem. Gradually America is morphing into a society similar to the one in Europe that drove the masses to migrate here. High unemployment and illegal immigration means that there are always low cost employees available. This is not the vibrant America that was the envy of the world under Republican and Democratic administrations in the post World War 2 era. A growing underclass does not bode well for our future.
There was a new gallup poll on the repeal of the new health care law. The question posed only told those polled about the vote which can back 465 favoring repeal, 40% not favoring repeal and 14 % having no opinion.
A more accurate poll would be would you favor repeal if the following things were to happen:
A) it would increase the federal deficit;
B) Children under age 26 could no longer be on their parents health insurqnce;
C) Insurance companies (not insurers) could deny coverage for pre-existing conditions;
D) Insurance companies could cancel policies for excessive and costly utilzation;
and
E) Insurance could raise premiums without penalty.
I think a different response from the American people might be rendered, perhaps a more informed poll.
In the spirit of keeping them honest, perhaps you could add this to your
AC360. I studied health care organization and issues in the late 1970s and these changes are the most positive improvements in over 30 years. The fact is the Obama adminisration and the Democrats have not yet really put forward a comprehensive analysis and marketing approach to the American people.
Thank you.
what will be the overall increase to the GDP by 2019 without repeal? Thanks.
Even IF it's true this health care sham will cost much, much more than that. Hate to break it to you people but the CBO isn't always right.