February 19th, 2011
Econintersect: The Congressional Budget Office (CBO) put an exact cost on the provisions of House Resolution 2 (H.R. 2) which reverses ObamaCare. Currently this resolution was passed by the House but is unlikely to be passed by the Senate - and faces a certain veto by President Obama.
Over the eight years that are common to the two analyses (2012-2019), enactment of PPACA and the health-related provisions of the Reconciliation Act was projected last March to reduce federal deficits by $132 billion, whereas the repeal of that legislation is projected now to increase deficits by $119 billion.
CBO projects that enactment of H.R. 2 would increase the federal budgetary commitment to health care in the decade following the 10-year projection period.
The estimated effect in later years differs from that in the first decade because the effects of those provisions that would tend to increase the federal budgetary commitment to health care (such as the increase in Medicare spending and the repeal of the excise tax on insurance policies with relatively high premiums) would grow faster than the effects of provisions that would tend to decrease it (primarily the repeal of the coverage expansions).
As with the longer-term estimate of overall budgetary effects, that projection incorporates an assumption that the provisions of current law would otherwise remain unchanged throughout the next two decades.
For a complete read of the 20 page report with tables - (click here).