Will Obamacare Increase Or Decrease The Federal Budget Deficits? — Real Health Care Reform Healthshare

Will Obamacare Increase Or Decrease The Federal Budget Deficits?

ObamacareAccording to Congress’ nonpartisan budget scorekeepers, supporters of Obamacare, the health care reform law would decrease the federal budget deficits over the next decade. Based on the recent report released by the Congressional Budget Office (CBO), the law will decrease federal health care costs by $84 billion.
However, Republicans do not believe this. In fact, Mitt Romney, 2012 presidential candidate, insisted that the health care reform law would actually increase the federal deficits by trillions. The CBO said that this is not the case.
If you look at the report, it did not give an estimate how the health care reform law will decrease the deficits. However, the budget report pointed out that if the law gets overturned, it estimates that the deficit would increase by $109 billion over the next decade.
With the turn of events, the Supreme Court upheld the law but gave states the privilege to opt out of the Medicaid expansion without a penalty. The budget office said that it will reduce the number of people eligible to get health care coverage under Obamacare. Approximately 30 million Americans are expected to get coverage by 2022.
The CBO has consistently presented that the health care reform law will reduce the federal deficit and the number of uninsured Americans. What it failed to present is that it would also increase the taxes that we pay every year just to fund the new health care changes.
After the CBO report was announced, GOP leaders pointed out that the health care reform law would increase health care spending and costs. Republican leaders, especially Mitt Romney, said that they will do everything to take down the health care reform law and reduce the federal deficits. The November 6 elections will finally decide the fate of Obamacare.

 

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