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8 Bumps

And NOW we have the rest of the story?

The Congressional Budget Office, in an email to Capitol Hill staffers obtained by the Spectator, has said that repealing the national health care law would reduce net spending by $540 billion in the ten year period from 2012 through 2021. That number represents the cost of the new provisions, minus Medicare cuts. Repealing the bill would also eliminate $770 billion in taxes. It's the tax hikes in the health care law (along with the Medicare cuts) which accounts for the $230 billion in deficit reduction.
Full email, from Edward "Sandy" Davis, CBO's Associate Director for Legislative Affairs, below.

To interested Hill staff:

CBO and the staff of the Joint Committee on Taxation (JCT) have not yet developed a detailed estimate of the budgetary impact of H.R. 2, the Repealing the Job-Killing Health Care Law Act, which would repeal the major health care legislation enacted in March 2010. Yesterday, we released a preliminary analysis of that legislation indicating that, over the 2012-2021 period, the effect of enacting H.R. 2 on the federal budget as a result of changes in direct spending and revenues is likely to be an increase in deficits in the vicinity of $230 billion, plus or minus the effects of forthcoming technical and economic changes to CBO’s and JCT’s projections for that period.

We have been asked to provide the revenue and direct spending components of that total. Extrapolating the estimated budgetary effects of the original health care legislation and accounting for the effects of subsequent legislation, CBO anticipates that enacting H.R. 2 would probably yield, for the 2012-2021 period, a reduction in revenues in the neighborhood of $770 billion and a reduction in outlays in the vicinity of $540 billion, plus or minus the effects of forthcoming technical and economic changes to CBO’s and JCT’s projections.

CBO will post a Director’s blog with this information on the CBO website shortly. Please let me know if you have any questions.

Sandy

Edward "Sandy" Davis
Associate Director for Legislative Affairs
Congressional Budget Office

Answer Question
 
Carpy

Asked by Carpy at 10:43 AM on Jan. 9, 2011 in Politics & Current Events

Level 39 (114,053 Credits)
Answers (23)
  • – collapse
    Omg what a long post!!
    ChanQ

    Answer by ChanQ at 10:49 AM on Jan. 9, 2011 (hidden) + expand

  • So the other shoe has dropped.
    pinkdragon36

    Answer by pinkdragon36 at 10:51 AM on Jan. 9, 2011

  • Omg what a long post!!

    ***
    You know ChanQ...if you find this section to difficult to follow, might I suggest the Just for Fun section?! You do realize you don't HAVE to post comments for the sake of getting points, right?!

    Why do I get the feeling I know you by your OTHER screen name?! LOL
    LoriKeet

    Answer by LoriKeet at 10:55 AM on Jan. 9, 2011

  • Chan, perhaps you could get someone to read it to you and use smaller words?
    Carpy

    Comment by Carpy (original poster) at 11:02 AM on Jan. 9, 2011

  • Chan, the *itches are in full attack mode this morning.Just to help out here, I recommend that you AVOID any topics in which THEY post because it is their hobby to attack. That is how they achieve some sort of self esteem. .....sigh..... I actually think they share a computer at the Loony Bin.Nobody in their right mind would post the way they do.


    ***


    Gerpie--take a good LOOOOONG look....


    mirror


    And you wonder why you are not well received here?!

    LoriKeet

    Answer by LoriKeet at 11:34 AM on Jan. 9, 2011

  • I still want to know how hundreds of thousands of dollars taken from one program and put into another duplicate program equals a savings
    itsmesteph11

    Answer by itsmesteph11 at 11:53 AM on Jan. 9, 2011

  •  Chan, the *itches are in full attack mode this morning.Just to help out here, I recommend that you AVOID any topics in which THEY post because it is their hobby to attack. That is how they achieve some sort of self esteem.
    .....sigh.....
    I actually think they share a computer at the Loony Bin.Nobody in their right mind would post the way they do.
    Have a nice day.
    Answer by kerp1960


    What was that you were saying the other day about calling people names and attacking, Kerp? I could swear you were talking about how the conservatives here attack with names and stuff. Isn't that sort of (or exactly) what you are doing right now?  Oh, BTW, I bookmarked this one for future posterity.  You can look forward to your words revisiting you.

    QuinnMae

    Answer by QuinnMae at 11:58 AM on Jan. 9, 2011

  • Chan, the *itches are in full attack mode this morning.Just to help out here, I recommend that you AVOID any topics in which THEY post because it is their hobby to attack. That is how they achieve some sort of self esteem.
    .....sigh.....
    I actually think they share a computer at the Loony Bin.Nobody in their right mind would post the way they do.
    Have a nice day.

    And again, gerpieluanon, thanks t=for the laugh. Maybe you should ask your mental health provider to up your meds.
    Carpy

    Comment by Carpy (original poster) at 11:59 AM on Jan. 9, 2011

  • That's pretty sad. Maybe you shouldn't spend so much time on the internet. Not such a big effort on the bookmarking thing. You give me lots of material to work with. I just like to remind you that your words have consequences too. Not that I (a complete stranger on the internet) can help you see the hypocrisy, but one can hope. It's hard to not respond to your inconsistent posts when in one breath you portray yourself as 'better than', and in the next breath you are right there slinging the mud with the rest of us. It's okay to just be you and not try to tell people that you are something that you aren't. You should try it, it's actually pretty liberating to not have to pretend that you are something that you aren't.

    QuinnMae

    Answer by QuinnMae at 12:12 PM on Jan. 9, 2011

  • Oh, and no on the stalker thing. It seems we cruise the same spot of this site so I don't really expend extra energy tracking you down. I can assure you I only find your inconsistent opinions worth responding to for the sheer entertainment value.  I think you are funny!

    QuinnMae

    Answer by QuinnMae at 12:14 PM on Jan. 9, 2011

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