Almost Classical

This response to various news stories on the repeal of healthcare reform is one of several interesting responses. Will Repeal of Obamacare Increase the Deficit? One of the problems with any estimates from the CBO is that such estimates can only use numbers and assumptions provided by Congress. Usually, the assumptions of Congress are incorrect, assuming cuts that are never enacted and revenues that never materialize. The CBO states in its analysis of H.R. 2, the heath care repeal act: As with all of CBO’s cost estimates, these estimates—both for the first 10 years and beyond—reflect an assumption that the provisions of current law would otherwise remain unchanged throughout the projection period and that the legislation being considered would be enacted and implemented in its current form. CBO’s responsibility to the Congress is to estimate the effects of proposals as written and not to forecast future legislation. However, current law now includes a number of policies that might b...