Friday, January 7, 2011

Finally, The CBO Comes Through

Announced this afternoon:

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.

At no time during the entire Obamacare debate, do I recall hearing just how much it was going to cost. All we heard was how much it would reduce the deficit, making it sound, to those not paying much attention, as if it were a money-saver. Finally the spending number -- over half a trillion -- is out in the open.

And it bears remembering that the $770 billion in tax revenues are to be collected over 10 years while the expenses will be incurred only over the last six. It should go without saying that any private business that operated this way would be hauled up on charges of fraud.

These are numbers all that should have been part of the discussion leading up to the vote. That they weren't is only more reason to despise the Democratic party and our execrable American press.

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