Obamacare Will Increase the Deficit

Notwithstanding the numerous budget gimmicks and accounting tricks used in the Democrats’ health plan to hide its true cost, the Congressional Budget Office’s final cost estimate of the legislation issued in March 2010 concluded that—based on its scoring conventions and assuming the law would be fully implemented as written—the health care-related provisions of the plan would reduce the federal budget deficit by $124 billion over the FY 2010–2019 period.[1] Since that time, CBO has updated estimates of the cost of the insurance coverage provisions of the law in each of its baseline reports. In addition to those partial updates, on two occasions (February 2011 and July 2012) CBO has produced cost estimates for legislation to fully repeal the law, which provides a close approximation of the total budgetary cost of the law. (See Table 1 for a summary of the CBO estimates.)

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