Did you know? Obamacare, also known as the ACA will reduce the federal budget even more than the CBO initially reported. Also, more people will be covered than initially thought. Also, the Republicans are dead set on repealing the whole thing.
In 2010, it estimated that Obamacare’s costs to the federal budget between 2014 and 2019 would hit $759 billion. That figure has steadily declined with each revision. The new figures project “a net cost of $36 billion for 2014, $5 billion less than the previous projection for the year; and $1,383 billion for the 2015–2024 period.” That last figures is “$104 billion less than the previous projection.”
It also projected an increase to the number of people gaining coverage under Obamacare — though a modest one. Compared to its February estimates, the CBO now assumes that 7 million more people will gain coverage under the Obamacare exchanges. In total, it projects that “12 million more nonelderly people will have health insurance in 2014 than would have had it in the absence of the ACA” — an increase that appears to be independent of the spike in Obamacare enrollments at the end of March.
