Feb 05, 2014 6:53 PM GMT
http://thehill.com/blogs/on-the-money/budget/197367-cbo-now-says-obamacare-risk-corridors-help-deficit#ixzz2sTWMqBP5The non-partisan Congressional Budget Office (CBO) on Tuesday threw a potential wrench into House Republican plans to tie an elimination of ObamaCare risk corridors to the next debt-ceiling increase.
The CBO now says that the program, which critics deride as an insurance "bailout," will earn the government $8 billion over the 2015 to 2017 period. Last May, the CBO said that the program had not net budgetary effect.
The government will pay insurers $8 billion over the period but will collect $16 billion in return from companies, yielding a net benefit.
The fact the program helps the budget could make GOP arguments against it more difficult and could require the party to find an offset in any bill repealing it.
The media must have been embarrassed by their shoddy reporting on the CBO report yesterday due to being duped by right-wing Teathuglican talking points.