CBO: Repealing Obamacare would save $1.4 Trillion

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    Feb 18, 2011 10:47 PM GMT

    The enacted legislation contained a set of provisions designed to expand health insurance coverage that was estimated to increase federal deficits. The costs of those coverage expansions—which include the cost of the subsidies to be provided through the exchanges, increased outlays for Medicaid and the Children’s Health Insurance Program (CHIP), and tax credits for certain small employers—will be partially offset by revenues from the excise tax on high-premium insurance plans and net savings from other coverage-related effects. By repealing those coverage provisions of PPACA and the Reconciliation Act, over the 2012-2021 period H.R. 2 would yield gross savings of $1,390 billion and net savings (after accounting for the offsets just mentioned) of $1,042 billion.
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    Feb 18, 2011 11:32 PM GMT
    And the funding has stopped as of today!

    The GOP-led House voted today to block funding to implement the nation's health care law.

    The action came on several amendments to a must-pass spending bill that would pay for government operations from March through September.

    Specifically, the House voted to prohibit any funds be used by the Internal Revenue Service to carry out the law's mandate that Americans buy health insurance. The individual mandate, one of the law's key tenets, has been struck down by federal courts.