THE COST OF REPEALING OBAMACARE

In March, 2010, President Obama signed into law the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, which would substantially overhaul healthcare in the United States. Since then, some opponents of the new laws have referred to the changes intended by the laws as “Obamacare.”

After the Republicans became the majority party in the House of Representatives as a result of the elections in November, 2010, an effort was made to repeal the new healthcare law. In particular, the House of Representatives passed the so-called Repealing the Job-Killing Health Care Law Act on January 19, 2011.

The non-partisan Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) studied the effects of repealing the new healthcare law and, in a letter dated February 18, 2011 addressed to the Speaker of the House, John Boehner, estimated the direct spending and revenue effects of  enacting the Repealing the Job-Killing Health Care Law Act would cause a net increase in federal budget deficits of $210 billion over the 2012-2021 period. (In March, 2010, the CBO and JCT estimated that enacting the new healthcare law would reduce federal deficits by $124 billion over the 2010-2019 period.)

Whatever becomes of “Obamacare,” we, as Americans, have a major stake in becoming knowledgeable about the issues involved and the projected savings or the projected costs to each of us, our children, and our grandchildren if the new healthcare law is enforced or the new healthcare law is repealed.

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This entry was posted on Wednesday, March 9th, 2011 at 4:28 pm. Both comments and pings are currently closed.

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