The Congressional Budget Office has released its latest estimates for the financial cost should Congress repeal the Affordable Care Act—and it wasn’t what many Republicans were hoping for.
Repealing Obamacare would add as much as $353 billion to the U.S. budget deficit through 2025, the non-partisan CBO found. When taking into account the economic effects of future policy changes — what’s called “dynamic scoring” — the deficit inflation would be closer to $137 billion.
That’s a pretty big sum, especially given that a CBO review in 2012 estimated that rescinding the law would add about $109 billion to the deficit over a decade.
While getting rid of the law would generate savings by ending insurance subsidies to millions of Americans, those savings would be surpassed by reversing the law’s cuts to Medicare and scrapping its various tax tax increases, the CBO said. It would also increase the ranks of the…
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