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POWERFUL: Charlie Kirk's final speech delivered in South Korea 9/6/25 2026 in Bible Prophecy 2.4 Billion exposed to excessive heat Status: Not Logged In; Sign In United States News See other United States News Articles Title: BREAKING: CBO Says Repealing ObamaCare Would Reduce Net Spending by $540 Billion Source: [None] URL Source: http://spectator.org/blog/2011/01/07/breaking-cbo-says-repealing-ob Published: Jan 7, 2011 Author: Phillip Klein Post Date: 2011-01-07 15:45:11 by no gnu taxes Keywords: None Views: 1142 Comments: 2 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. Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest #1. To: no gnu taxes (#0) No big surprise. In the end, the Party would announce that two and two made five, and you would have to believe it. It was inevitable that they should make that claim sooner or later: the logic of their position demanded it. ... The heresy of heresies was common sense. -- George Orwell, 1984 -- http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=16281&Disp=9#C9 ME: THERE IS NO MORE MONEY. GO65: There will be no more money when the U.S. dollar has no value, until that time we can keep printing more. SUMMARY: Socialists refuse to accept reality. Capitalist Eric  posted on  2011-01-07   17:55:53 ET  Reply   Trace   Private Reply   #2. To: no gnu taxes (#0) 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 Read it carefully, the net result of repeal is an increase in the debt of $230 billion over 10 years. Since January 3, 2011, Republicans have controlled the power of the purse. go65  posted on  2011-01-07   19:03:35 ET  Reply   Trace   Private Reply   Top • Page Up • Full Thread • Page Down • Bottom/Latest

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