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CBO: Obamacare subsidies will cost 20 percent less than expected
Updated by Sarah Kliff and Ezra Klein on March 9, 2015, 11:00 a.m. ET
vox.com
excerpt:
Make no mistake: Obamacare spends a lot of money on its tax credits and Medicaid expansion. It recoups some, but not all, of that new spending with hundreds of billions of dollars in Medicare cuts, which reduce federal health spending. (The bulk of the remainder is made up with tax increases, but they're irrelevant for this calculation.) But back when the law was passing, Republicans argued up, down, and sideways that the Congressional Budget Office was sharply underestimating the amount of money Obamacare spends.
In fact, the CBO overestimated the cost of Obamacare — and by quite a lot. In April 2014, it marked down its Obamacare projection by more than $100 billion.
The government is now spending less on health care than CBO had projected back in January 2010 — a projection made before the Affordable Care Act, and its costly coverage provisions, came into law. |
