Budget Office: Health Care Repeal Would Add $230 Billion to Deficit

The non-partisan Congressional Budget Office (CBO) just released numbers that should make any deficit-fearing Republican stop dead on his or her way to vote to repeal health care reform.
If the Affordable Care Act is repealed, says the CBO, it would increase the federal budget deficit by $230 billion over the next decade and by $1.2 trillion in the following 10 years.
Contrary to their much ballyhooed new House rules that require any legislation that increases federal spending or the deficit to be paid for with equal spending cuts elsewhere, the bill to repeal health care reform has no such restrictions. Why?  Because their rules explicitly excluded the health care reform repeal bill (H.R. 2).
BTW, the rules also exclude any tax cuts for the wealthy or corporations from spending cuts elsewhere to make up the difference. But that’s a hypocrisy we’ll deal with some other time.
Says Rep. Sander Levin (D-Mich.):

The Congressional Budget office confirms that just one day after taking over the House, the Republican rhetoric on fiscal discipline doesn’t meet the reality test as their plans to take away valued health benefits from the American people will balloon our deficit by $230 Billion.

The astonishing addition to the deficit wasn’t the only huge repeal impact the CBO identified. Here are some of the others:

• Repeal means 32 million Americans will lose their health coverage.
• Repeal means individuals will pay more for their health insurance.
• Repeal means average health care policies will offer fewer benefits will.
• Repeal means premiums for employer-sponsored health insurance will increase.

While the CBO focused on the fiscal impact of repeal, let’s not forget that all the new rules governing insurance company practices would end. Republicans want to repeal the new law’s guarantee that children with pre-existing conditions cannot be denied coverage. Republicans want to repeal new rules limiting insurance company premium hikes and requirements that they spend money on health care, not CEO perks.
Says Ethan Rome, executive director of Health Care for American Now (HCAN!), “It’s only Day 2 of the Republican reign in the House, and we’re already up to our hips in double-talk and hypocrisy.”

Now the Republicans are rejecting the CBO’s new report that says repeal of the [Affordable Care Act] will jack up the budget deficit by $230 billion over 10 years. There’s no promise the Republicans won’t break, no principle they won’t sacrifice and no fact they won’t ignore to let the insurance companies off the hook and strip consumers of important protections like the ban on denying care to people with pre-existing conditions.

Rep. Pete Stark says “The Republican NoCare agenda should come with a Surgeon General’s warning: Dangerous to Your Health.”
Today, CBO confirmed the devastating effect their plan would have on the health of American families. If Republicans are successful, millions of Americans become uninsured, millions pay more than they should for their health benefits and our deficit balloons. Republicans support an Insurance Company Bill of Rights—not the Patients’ Bill of Rights