Jim Wright documents things. And yet, according to the non-partisan Congressional Budget Office the estimated budget impact of the ACA is a positive. When estimates are compared on a year-by-year basis, CBO [Congressional Budget Office] and JCT’s [Joint Committee on Taxation] estimate of the net budgetary impact of the ACA’s insurance coverage provisions has changed little since February 2013 and, indeed, has changed little since the legislation was being considered in March 2010. In March 2010, CBO and JCT projected that the provisions of the ACA related to health insurance coverage would cost the federal government $759 billion during fiscal years 2014 through 2019 (which was the last year in the 10-year budget window being used at that time). The newest projections indicate that those provisions will cost $710 billion over that same period. Those amounts do not reflect the total budgetary impact of the ACA. That legislation includes many other provisions that, on net, will reduce budget deficits. Taking the coverage provisions and other provisions together, CBO and JCT have estimated that the ACA will reduce deficits over the next 10 years and in the subsequent decade. That’s correct, a combined committee – both democrat and republican – continuously working since the ACA’s passage into law, having examined the law in detail, having continuously analyzed the ongoing implementation of the law, and having access to the best economic figures available and the best subject matter expertise in the nation, continue to the report that the ACA will in fact reduce overall government spending over the next twenty years.
Posted on: Sun, 22 Sep 2013 21:11:23 +0000
Recently Viewed Topics
© 2015