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Repealing health care law will hurt the deficit warns CBO, thoughts?

WASHINGTON (Reuters) – An effort by Republicans in the House of Representatives to repeal the healthcare law enacted last year would add to already huge federal budget deficits, the Congressional Budget Office warned on Thursday.

In a preliminary estimate of legislation the House is set to begin debating on Friday, the CBO said that repealing the Democrats' signature healthcare law would increase federal budget deficits by roughly $145 billion by the end of the decade, a slight revision of its earlier $143 billion.

That figure would rise to $230 billion by 2021, the CBO said.

The CBO also said repeal would result in 32 million fewer people having health insurance.

Republicans won majority control of the House last November after promising to repeal the healthcare law and slash the deficit, now at around $1.3 trillion.

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Asked by sweet-a-kins at 12:30 PM on Jan. 6, 2011 in Politics & Current Events

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