CBO Offers Grim Obamacare Numbers
Seven million people will lose their job-based health insurance, according to a new economic report from the Congressional Budget Office. That’s nearly double the previous estimate of 4 million.
NBC explains why the numbers have changed:
That’s mostly because of the deal Congress made last month to keep the country from going over the fiscal cliff, the CBO says. . . .
It takes away some of the tax breaks that employers get for providing health insurance to workers and their families. The change “will lead to a greater reduction in such coverage and higher enrollment in insurance exchanges than previously estimated by CBO,” the report reads.
The Hill’s write-up of the CBO report is especially bleak:
The Congressional Budget Office (CBO) estimated Tuesday that President Obama’s signature healthcare law will cost about $1.3 trillion over the next 10 years.
The figure represents a slight increase since August, when the nonpartisan budget office estimated that the law would cost about $1.17 trillion before 2022.
The Hill rounds the numbers, but the point is the same when you look at the more precise figures: We’ve officially reached the day when a $164 billion in added cost is merely a “slight increase.”