Repeal ACA...adds 9.1 Trillion in Debt

[djsunyc]

http://www.kansascity.com/news/local/news-columns-blogs/the-buzz/article126086284.html

The U.S. Senate approved a budget resolution early Thursday morning as part of its plan to repeal parts of the Affordable Care Act, known as Obamacare.

They had to take out the credit card to do it.

The resolution says the public debt will start at $20,034,788,000,000 (that’s $20 trillion+) in 2017, then rise to $29,126,158,000,000 ($29.1 trillion) in fiscal year 2026.

That’s an increase in $9.1 trillion over ten years, or about $900 billion annually on average.

The debt increase is the reason Sen. Rand Paul of Kentucky was the only Republican senator to vote against the bill.

Sens. Roy Blunt of Missouri, and Pat Roberts and Jerry Moran of Kansas, all voted for the resolution adding to the debt. Sen. Claire McCaskill voted no.

Republicans have said the additional $9.1 trillion in debt isn’t a realistic figure, but even some conservatives aren’t convinced. The FY 2026 deficit alone would exceed $1 trillion.

The House may vote today or tomorrow. We’ll add local votes to this post after they’re cast.

[metroins]

1. I honestly have always liked Rand Paul

His politics and mine don't jive but I've always seen him as less extreme, more refined and kind of an old school politician even though he's new school.

I understand he is probably doing it because KYNECT is doing so well.

Still, it takes balls to vote No as a republican.

[Skittles]

2. male body parts are not required for courage

[LittleBlue]

3. The one thing we must emphasize, above all others, is that no matter

what the number is fiscally, the lack of cost control will cause healthcare to spiral faster toward crisis. The ACA served as a braking mechanism of sorts to slow the rate of % of GDP we devote to healthcare.

We cannot afford to see spiraling cost increases nearing double digits. It simply isn't feasible long-term. This is the kind of argument you can use to win over even fiscal conservatives. It will flat out increase prices, which is never good even from an economics standpoint.

[Jim Lane]

4. No, the actual figure would be much smaller.

What they voted on was a resolution setting an overall budget framework. It envisioned that the total of the deficits incurred over the next ten years would exceed $9 trillion. The inclusion of the Obamacare repeal didn't mean that repeal was the sole cause of all that additional debt.

There was one estimate (from a deficit-hawk lobby group) that ACA repeal would increase the deficit by a ten-year total of $350 billion.

[BSdetect]

5. Apart from condeming us all to owe much more there are also millions

of families and individuals who will be bankrupted.

People will lose their homes.

I hate that they are so thoughtless.