Reigniting a debate about the bottom line for President Barack Obama’s health care law, a leading conservative economist estimates in a study to be released Tuesday that the overhaul will add at least $340 billion to the deficit, not reduce it.
Charles Blahous, who serves as public trustee overseeing Medicare and Social Security finances, also suggested that federal accounting practices have obscured the true fiscal impact of the controversial legislation, the fate of which is now in the hands of the Supreme Court.
Officially, the health care law is still projected to help reduce government red ink. The Congressional Budget Office, the government’s non-partisan fiscal umpire, said in an estimate last year that repealing the law actually would increase deficits by $210 billion from 2012-2021.
The CBO, however, has not updated that projection. If $210 billion sounds like a big cushion, it’s not. The government has recently been running annual deficits in the $1 trillion range.
Read more at Official Wire. By Ricardo Alonso-zaldivar, AP.
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