The Leader Board

A CBO Report Shows That ObamaCare Will Create Over A Trillion Dollars In Higher Taxes, And $716 Billion In Medicare Cuts

 CBO: $1.05 Trillion In New Taxes

"Penalty Payments by Uninsured Individuals …

Changes in revenues 2013-2022: -55 [billion dollars]."

"Penalty Payments by Employers…        Changes in revenues 2013-2022: -106 [billion dollars]."
"Excise Tax on High-Premium Insurance Plans… Changes in revenues 2013-2022: -111 [billion dollars]."
"Associated Effects of Coverage Provisions on Tax Revenues… Changes in revenues 2013-2022: -216 [billion dollars]."
"Fees on Certain Manufacturers and Insurers… Changes in revenues 2013-2022: -165 [billion dollars]."
"Additional Hospital Insurance Tax…                                  Changes in revenues 2013-2022: -318 [billion dollars]."
"Other Revenue Provisions… Changes in revenues 2013-2022: -87 [billion dollars]."
Total: 1.05 trillion dollars  (Douglas Elmendorf, CBO Director, Letter To Speaker Boehner, Table 2, 7/24/12)

 

CBO: '$716 Billion' In Medicare Cuts

CBO: "As you requested, the Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) have estimated the direct spending and revenue effects of H.R. 6079, the Repeal of Obamacare Act, as passed by the House of Representatives on July 11, 2012. … Many of the other provisions that would be repealed by enacting H.R. 6079 affect spending for Medicare, Medicaid, and other federal programs. … an estimated $716 billion over that 2013–2022 period." (Douglas Elmendorf, CBO Director, Letter To Speaker Boehner, P.1 & 13, 7/24/12)

 

President Obama Promised: 'I Will Protect Medicare'

PRESIDENT OBAMA: "So don't pay attention to those scary stories about how your benefits will be cut … that will not happen on my watch. I will protect Medicare." (President Obama, Remarks To Joint Session Of Congress, 9/9/09)

 

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