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Obamacare CBO Summary Update:
I just reviewed the CBO update on ObamaCare released July 24th that states the cost will be $84 billion less than predicted over the next decade. The savings ironically comes from 3 million fewer people under coverage. I say ironically because the whole point of Obamacare is to cover everyone.
So over the next decade Obamacare will cost $1.7 trillion. The Obamacare taxes will generate a trillion dollars. $700 billion in Medicare cuts (was originally $500 billion). So it’s a wash. Keep in mind that the CBO has a terrible record in estimating costs because it generally calculates the numbers under the best possible economic scenario.
I just reviewed the CBO update on ObamaCare released July 24th that states the cost will be $84 billion less than predicted over the next decade. The savings ironically comes from 3 million fewer people under coverage. I say ironically because the whole point of Obamacare is to cover everyone.
So over the next decade Obamacare will cost $1.7 trillion. The Obamacare taxes will generate a trillion dollars. $700 billion in Medicare cuts (was originally $500 billion). So it’s a wash. Keep in mind that the CBO has a terrible record in estimating costs because it generally calculates the numbers under the best possible economic scenario.
