CBO: Immigration Reform Free! Flashback: Obamacare Deficit Neutral

The Mainstream Media is all abuzz following the CBO report on Immigration Reform exclaiming that legalizing some 9 million immigrants would be a Free Lunch or not add to the deficit.

While that all sounds really nice, I might remind our readers that the CBO claimed Obamacare would reduce deficit.  Now, three years later we find that the CBO was a tad off.

Obamacare will cost $6.2 trillion!

immigration obamacareThen: In his September 9, 2009, speech to a joint session of Congress, President Obama declared, “I will not sign a plan that adds one dime to our deficits—either now or in the future.”

Now: Over the next 75 years, the Affordable Care Act—Obamacare—will add an estimated $6.2 trillion to the primary deficit under the most realistic outlook on federal spending, according to a new report by the Government Accountability Office (GAO), the nonpartisan fiscal watchdog of Congress. The primary deficit, as noted by the GAO, is the difference between federal revenues and non-interest spending.

Senator Jeff Sessions (R–AL), who commissioned the study, released its findings this morning at a Senate Budget Committee hearing. The GAO report examines the long-term impact of Obamacare on the nation’s fiscal health.

Projections of spending and deficits and debt, as the GAO analysts observe, are often calculated under the “Baseline Extended Simulation,” which assumes that current law will “continue unchanged.” These projections can also be calculated under an “Alternative Simulation,” which assumes “historical trends and policy preferences continue.” Different assumptions lead to very different results.

The GAO found that under the baseline simulation the deficit problem shrinks but is not solved. Under the alternative simulation over 75 years, the GAO found the “primary deficit” would increase by 0.7 percent of gross domestic product (GDP) (Figure 5, p. 19) because of Obamacare. Translating that 75-year percentage estimate into today’s dollar amount, as Senator Sessions pointed out, would be $6.2 trillion over the next 75 years.

Via – Obamacare Will Add $6.2 Trillion to Primary Deficit Over 75 Years.

About Albert N. Milliron 6992 Articles
Albert Milliron is the founder of Politisite. Milliron has been credentialed by most major news networks for Presidential debates and major Political Parties for political event coverage. Albert maintains relationships with the White House and State Department to provide direct reporting from the Administration’s Press team. Albert is the former Public Relations Chairman of the Columbia County Republican Party in Georgia. He is a former Delegate. Milliron is a veteran of the US Army Medical Department and worked for Department of Veterans Affairs, Department of Psychiatry.

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