Obamacare will boost the deficit by $131 billion, according to a new report from Senate GOP staff that cuts away at White House claims that the health-care law would lower spending.
The Congressional Budget Office has scored the health-care law several times over the years, most recently in 2012, when it estimated Obamacare would reduce deficits by $109 billion over 10 years. According to Senate Republicans, when that 10-year window is shifted to cover 2015-2024, the CBO’s estimated savings would grow to $180 billion.
But that projection didn’t include the many changes to the health-care law over the last several years. Exemptions from the individual and employer mandates, expanded spending on broken Obamacare exchanges, and Obamacare’s cuts to employment, per the CBO itself, have all added to the cost of the law.
When the version of Obamacare that’s actually been enacted into law is scored, the effect of the federal budget deficit is vastly different from the effect of the law as it was written. Republican staff for the Senate Budget Committee calculated a $300 billion swing since the CBO’s last numbers– making Obamacare a net deficit booster instead.