Bi-Partisan Defeat of Obamacare

The Congress just voted to repeal Obamacare. The CBO sent out the message that such a move would cut half a trillion dollars in spending.

The Congressional Budget Office, in an email to Capitol Hill staffers obtained by the Spectator, has said that repealing the national health care law would reduce net spending by $540 billion in the ten year period from 2012 through 2021. That number represents the cost of the new provisions, minus Medicare cuts. Repealing the bill would also eliminate $770 billion in taxes. It’s the tax hikes in the health care law (along with the Medicare cuts) which accounts for the $230 billion in deficit reduction.

A great way to start off the 112th Congress. And it shows how they can cut the deficit and debt and taxes all at the same time. Of course, the president and Senate Dems will try to kill it. We’ll see what they do. But in doing so they will reveal themselves to be against saving half a trillion dollars in spending and $770 billion in taxes. Not to mention a ton of regulations.

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