The CBO is weighing in on the projected economic effects of a possible Obamacare repeal. With a Supreme Court decision expected any day that could effectively gut the program, the analysis is sure to gain a lot of attention.
The officially non-partisan analysts at the CBO predict mixed results if the ACA ceases to exist. Their projection is that it would actually boost the GDP annually by 0.7% because more people would seek and get work to pay for their medical coverage. The CBO believes those added jobs would bring in another $216 billion in revenues to the economy through 2025.
But not counting the added revenues that would come from those added jobs, the report expects a complete repeal to add a total of $353 billion to the federal deficit over the next 10 years. Most of that new red ink is expected to come from increased Medicare costs.
Both sides of the Obamacare debate will latch on to the aspects of this report that support their claims.