CBO Can No Longer Predict ObamaCare Deficit Cuts

CBO Can No Longer Predict ObamaCare Deficit Cuts

According to The Fiscal Times, the Congressional Budget Office (CBO) “quietly” announced that it could no longer project whether or not ObamaCare would decrease the national deficit. Citing the source of this controversial news, The Fiscal Times states that,  “In a little noticed footnote to a report updating estimates of the effects of the insurance coverage provisions of the law, the agency headed by Douglas Elmendorf acknowledged that neither CBO nor the Joint Committee on Taxation could determine precisely how scores of provisions other than the insurance coverage would impact long term government spending.”  This quiet announcement stands in direct opposition to the administration’s initial claims that the Affordable Care Act would result in approximately $120 billion deficit reduction in the coming decade.  Due to the law’s numerous delays and changes since its adoption, the CBO is hard pressed to deliver any meaningful projections on long-term deficit impact. Now the nation faces the unsettling uncertainty of determining whether ACA implementation will reduce the deficit or add billions to the current unprecedented $17 billion plus deficit.

 

Click here to read the full Fiscal Times article. 

 

 

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