Official White House Press Statement: Jack Lew White House Blog Post on ACA Repeal and Today’s CBO letter

Jack Lew Blog Post on ACA Repeal and Today’s CBO letter

 

WASHINGTON – Today, the Director of the Office of Management and Budget Jack Lew posted the following statement to the White House blog. You can view the statement HERE.

 

New Year, New Estimate, Same Result

Posted by Jack Lew on January 06, 2011 at 04:18 PM EST

The new year starts with a renewed focus on the Affordable Care Act (ACA), which the President signed into law last year and has already delivered a host of consumer protections and benefits to millions of Americans.

Yesterday, the House Republican leadership introduced a bill to repeal the ACA. Today, the Congressional Budget Office (CBO) sent a letter to the Speaker of the House giving its assessment of the budgetary effects of a repeal: it would increase the budget deficit by hundreds of billions of dollars over the next decade. The CBO letter notes that “over the 2012–2021 period, the effect of H.R. 2 [the repeal of ACA] on federal deficits … is likely to be an increase in the vicinity of $230 billion.”  This result is not surprising since CBO scored the ACA as reducing the deficit by more than $100 billion through 2019 and by more than $1 trillion in the decade after that.

To be fair, CBO is clear that this is a preliminary estimate that does not take into account a host of changes in the economy, technical matters, and the effects of the implementation to date. But even after a more comprehensive analysis, we should expect the same outcome: the deficit would increase substantially if ACA were repealed. As CBO Director Elmendorf wrote in his blog today, “those developments will probably not have a major effect on the overall budgetary impact of repealing the legislation.”

For those in both parties who care about the deficit and our future fiscal course, the repeal of the ACA should concern them deeply. Rising health care costs are the biggest driver of our long-term deficits, and getting them under control is crucial for the fiscal health of the nation and to keep our economy growing, creating jobs, and competing in the world economy. Beyond that, we need to keep in mind that repealing the ACA also would roll back what the bill already has done to help millions of Americans — from the families benefitting from the end to lifetime dollar limits on essential benefits to the young people now able to join their parents’ policies and the seniors who now are able to afford their prescription drugs. And repeal would deny an estimated 32 million American citizens health insurance in years to come.

Jack Lew is the Director of the Office of Management and Budget

 

Lover, Fighter, Friend, Journalist, and Activist.

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2 comments on “Official White House Press Statement: Jack Lew White House Blog Post on ACA Repeal and Today’s CBO letter
  1. Jackie Anderson says:

    Friday, July 29, 2011
    federal debt ceiling…..STOP PAYMENT on congresspeople’s checks & all funds to
    Dear Jack Lew:
    If time runs out on raising the federal debt ceiling,
    & the treasury must stop cutting funds paid out,
    the FIRST funds to be STOPPED need to be:
    ANY and ALL checks & funds of all kinds to the Senate and House Congresspeople;
    to include pay checks, medical payments (their health insurance and costs) and all other costs the federal government pays out for and to Congresspeople. They need to feel directly the consequences of their actions.
    I would prefer to penalize the only those most responsible, i.e. especially the Tea Party ideologues, but if not possible, then penalize them all.)

    Congress needs to increase revenue, the well off must pay their fair share. Please, GET THIS DONE.
    Thank you,
    Jackie Anderson
    Tucson, AZ 85716

    subject: can’t we tax the companies that move jobs overseas???

    Dear President Obama and Jack Lew:

    1)  please:    counter the Republicans and Tea Party’s  VERY EFFECTIVE  repetitive airwave/media argument that taxing corporations would result in loss of workers’ jobs here.
               
            It is my understanding that the large corporations pay little or no taxes…yet as you, President Obama,    have mentioned,         are reaping record profits…but  you need to FURTHER  enlighten the public   that:  these corporations are NOT providing jobs HERE,   but are expanding jobs OVERSEAS…..so to tax them FAIRLY would NOT  cause any American job losses….as they have no intention of using those huge profits to provide jobs here anyway…     (or do you think that this is inaccurate????)

    2)   Tax companies that move jobs overseas:       
           why can’t we use taxation incentives:     if the huge corporations are going to create jobs (with cheaper labor) overseas….level the playing field by taxing them (their FAIR SHARE anyway) ..
    ……and reward any that CHANGE to expand jobs here reward with  lower taxes…   why do you not educate us the American people on these issues???????

    and please:     HOLD FIRM….    do NOT  slash  the life line, safety and health foundation that made and keeps this country a strong country of middle class and small business

    Large corporations  are reaping HUGE profits and paying little or no taxes.   We need them to pay at least a modicum of their share.

    Please get this done…. and lets raise the needed taxes along with work against  WASTE and CORRUPTION  by LARGE  OFFENDERS…
       whom  usually seem to be the wealthy corrupt who steal from the government BIG TIME

    sincerely,
    Jackie Anderson

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