CBO lowers health reform cost estimate

(CBS/AP) Congressional economists are estimating somewhat lower costs for covering the uninsured under President Barack Obama's health care overhaul law, as well as slightly fewer people gaining coverage.

Assuming the Supreme Court does not overturn the law, the Congressional Budget Office would reduce the number of uninsured by 30 million in 2016, or 2 million fewer people than estimated last year. Total costs from 2012-2021 are about $50 billion lower than estimated last year. That's due to a combination of factors, including overall health care costs rising more slowly than in the recent past.

The CBO report also says the government will run a $1.2 trillion deficit for the budget year ending just a few weeks before Election Day. It would be the fourth straight year of trillion dollar-plus deficits.

The almost $100 billion spike from earlier projections for the fiscal 2012 deficit comes almost exclusively because Congress passed legislation recommended by President Barack Obama to renew a 2 percentage point cut in payroll taxes and jobless benefits for people languishing on unemployment rolls for more than six months.

Last year's deficit registered $1.3 trillion.

The report comes as Republicans controlling the House are preparing for this year's budget debate, which is sure to spill over into the presidential campaign as the two sides quarrel over Medicare, taxes and cuts to the Pentagon budget.

The budget plans of the leading GOP presidential candidates each call for new, significantly larger tax cuts that would add even more to projected deficits, according to independent analysts.

[occupy_cbs]

Right-Wing Media Falsely Claim Cost Of Health Care Law Has Doubled

Right-wing media are falsely claiming that a recent report by the Congressional Budget Office (CBO) shows that the cost of the Affordable Care Act (ACA) has doubled since CBO's estimate in 2010. In fact, CBO's analysis actually showed that the insurance coverage provisions of the health care law will cost less than originally estimated.

http://mediamatters.org/research/201203160005

[occupy_cbs]

chevyhotrod: "Your ignorance has no bounds......Just the fact that is was sold to the American people that is would only cost $900 billion over ten years, now we find out that it will cost $1.7 Trillion over ten years"



Actually hotrod, YOUR ignorance has no bounds and now you have proven your reading comprehension is much worse than average!

Here's the facts:
"The CBO, in an update to its budget outlook, now estimates that the overall coverage cost of Obama's Affordable Care Act will drop slightly, to $1.083 trillion over the next decade. Last year, the CBO estimated the price tag to be $1.131 trillion over the same period of time."

You must have made-up that phony figure of "$1.7 Trillion," since I see an estimated CBO price of $1.083 Trillion -- down from $1.131 Trillion last year -- a savings of $50 Billion over the decade, which was overall a $130 Billion reduction in budget deficits, and now will be a total reduction of $180 Billion in deficits over the decade.


Apparently, the Democrats are much more fiscally-responsible than the fiscally-irresponsible republicans than can only make deficits worse!

[occupy_cbs]

reality_sanity: "Total costs from 2012-2021 are about $50 billion lower than estimated last year. That's due to a combination of factors, including overall health care costs rising more slowly than in the recent past."

The rate of the increases of health care costs have slowed.
--- HCR only partially in effect is having the desired result.




Exactly!

This only proves that the PPACA is already having the desired effect of slowing the rate of health care cost increases that have been several times the inflation rate over the past decade (138% increase in premiums over the past decade), and anyone chomping on their SOUR GRAPES 'trying' to say how their insurance premiums have gone up considerably "because of the PPACA," are just plain delusional, outright LYING or being swindled by their for-profit insurance mafia!

If the PPACA is already having the desired effect of slowing health care costs, just think how good that will be when it is fully-implemented in 2014!

Thank you Democrats for standing up to the obstructionist republicans!

[occupy_cbs]

chevyhotrod: "You are really insane, THE DEMOCRATS PASSED THIS LAW WITHOUT A SINGLE REPUBLICAN VOTE"



NO, it is YOU that is truly insane and chomping on SOUR GRAPES as the highly-partisan troll you are!

Just as "AmericaBeforeCults" tried to explain to you, "Our Constitutionally elected legislators passed a law, in a fashion laid out by the Founders."

Just because republicans have never wanted health care reform to lower costs, keep the for-profit insurance mafia from denying coverage to those in need, make pre-existing conditions a term of the past, and insure that health care providers spent a certain percentage (80-85%) of their premium rates on providing health care, certainly only proves how despicable the GOP has become!

As a matter of fact, many of the cost-saving sections in the PPACA were originally republican ideas -- just like the 1990's mandate -- it's just absurd that the republicans didn't vote for their ideas!



But go ahead......keep stomping on SOUR GRAPES, hotrod, and show your true partisan stripes against honest and hard-working Americans!

[occupy_cbs]

The budget office estimated somewhat lower costs for covering the uninsured under President Barack Obama's health care overhaul law, as well as slightly fewer people gaining coverage.

Assuming the Supreme Court does not overturn the law, it would reduce the number of uninsured by 30 million in 2016, or 2 million fewer people than estimated last year. Total costs from 2012-2021 are about $50 billion lower than estimated last year. That's due to a combination of factors, including overall health care costs rising more slowly than in the recent past.

Due to built-in tax increases in the 2010 PPACA, now the CBO predicts that health care reform will reduce budget deficits by almost $180 billion over the first decade and now over $1 Trillion over the second decade, while increasing the insured by 30 million!

[occupy_cbs]

If the Bush tax cuts are renewed, CBO says, annual deficits would average more than $1 trillion a year over the coming decade and would, economists says, eventually spark an economic crisis.


Why do fiscally-irresponsible republicans fail to understand that the bush tax cuts have never paid for themselves, and cost us over $4 Trillion over the past decade, while the 2010 PPACA has built-in tax increases that cover the cost over the first decade and save more than $1 Trillion over the second decade?

[occupy_cbs]

If only the republicans could 'think' for themselves instead of following the deceitful lobbyist, grover nitwitt, and see that our severe revenue problem began in 2001, with the advent of the bush tax cuts, and the lowering of our federal revenue to a mere 14% of GDP!

[modinde]

http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-to-a-Joint-Session-of-Congress-on-Health-Care
"And here's what you need to know. First, I will not sign a plan that adds one dime to our deficits -- either now or in the future. (Applause.) I will not sign it if it adds one dime to the deficit, now or in the future, period. And to prove that I'm serious, there will be a provision in this plan that requires us to come forward with more spending cuts if the savings we promised don't materialize" obama. (Applause.)
Per the CBO, 03/14/12" , ...whereas the March 2012 estimate indicates that those provisions will increase deficits by $1,083 billion," the report reads.

[occupy_cbs]

The budget office estimated somewhat lower costs for covering the uninsured under President Barack Obama's health care overhaul law, as well as slightly fewer people gaining coverage.

Assuming the Supreme Court does not overturn the law, it would reduce the number of uninsured by 30 million in 2016, or 2 million fewer people than estimated last year. Total costs from 2012-2021 are about $50 billion lower than estimated last year. That's due to a combination of factors, including overall health care costs rising more slowly than in the recent past.

Due to built-in tax increases in the 2010 PPACA, now the CBO predicts that health care reform will reduce budget deficits by almost $180 billion over the first decade and now over $1 Trillion over the second decade, while increasing the insured by 30 million!

[jd2408]

I'm not sure anyone understands this new health care plan or the costs as yet. because no one seems to be talking about specific points.

Here is an article from the LA Times on how they are signing up their uninsured to make sure they get on the government plan.

http://articles.latimes.com/2012/feb/18/local/la-me-calif-uninsured-20120218

[reality_sanity]

Ludda, Ranger == the actual CBO report places the 2012 - 2021 cost at $1.1 Trillion. This is a different 10 year period than the one used for passage of the health care reform law -- read the real PDF.

http://cbo.gov/sites/default/files/cbofiles/attachments/03-13-Coverage%20Estimates.pdf

"CBO and JCT now estimate that the insurance coverage provisions of the ACA will have a net cost of just under $1.1 trillion over the 2012-2021 period—about $50 billion less than the agencies' March 2011 estimate for that 10-year period (see Table 1, following the text)."

[reality_sanity]

That's over $600 BILLION less than your fabrications.

[Raptorsmasher]

If Obamacare is overturned by the Supreme Court which is highly unlikely, here is what I propose: If you don't have medical insurance because you don't believe it's right for the government to tell you what to do, and you become ill, and you don't have the money to pay back your medical care provider, you will never be able to escape your obligation to pay off your debt, even through bankruptcy. Furthermore, should you die or leave the country in order to avoid payment, that debt will be the responsibility of your family. Someone has to pay, and those costs shouldn't be picked up by the people who chose to have medical insurance.

[luadda22]

You mean kinda like student loans?