The sky actually wasn't falling when Obamacare began, but its costs apparently are now.
The Congressional Budget Office on Monday said it expects the federal government will spend significantly less on Obamacare than had been projected.
Instead of $1.35 trillion in costs from 2016 through 2025, Affordable Care Act-related expenditures are expected to be $1.207 trillion, the CBO said. That is an 11 percent reduction.
The drop in projections is largely due to to lower estimates for cost increases of health insurance sold on government-run marketplaces, and a slight reduction in the number of people expected to gain coverage under ACA-related programs, the agency said.
The CBO said the costs of Obamacare subsidies issued by the government will drop 20 percent, or $209 billion, as a result of those factors over the decade.
Read MoreIRS rescue for Obamacare? Maybe
However, it also expects the overall number of people without health insurance to be lower in the coming decade than had been previously projected. And the agency expects slightly fewer people to lose health coverage through their employer than had been projected.
And, because insurance premiums are expected to rise slower than previously forecast, the CBO is now estimating the government will collect 41 percent less in total taxes paid by employers for the so-called Cadillac tax on pricey health insurance plans. The lowered tax revenue estimates of $87 billion over a decade will offset the larger decreases in overall Obamacare-related costs.