Health Care Repeal Will Cost $230 Billion

Sen. Richard Durbin

Legislation being pushed by House Republicans to repeal President Barack Obama's health care overhaul will add $230 billion to the federal debt by 2021, according to an analysis released Thursday by the nonpartisan Congressional Budget Office.

Democrats immediately pounced on the report, arguing, among other things, that it undermines the new GOP House majority's emphasis on fiscal responsibility.

"Not only would repeal of health care reform add to our deficit, it would dump more than 30 million Americans from coverage who will be protected by our new health care reform act," said Sen. Richard Durbin, D-Illinois.

"So more than 50 million Americans won't have the protection of health insurance. That is a personal family tragedy even beyond our discussion of the deficit."

Republicans have argued that the health care overhaul -- widely considered Obama's signature domestic accomplishment -- will hamper the country's long-term economic growth.

They also argue that by pushing for a repeal, they are simply fulfilling a campaign promise.

The people "want this bill repealed, and we are going to repeal it," said House Speaker John Boehner, R-Ohio. If it is not repealed, "it will ruin the best health care system in the world ... (and) will ruin our economy."

Boehner took issue with the analysis, arguing that it was based on unrealistic economic and fiscal assumptions originally provided by Democrats.

"I don't think anyone in this town believes that repealing Obamacare is going to increase the deficit," he said.

Republicans have exempted a repeal of the health care law from new rules prohibiting legislation from adding to the federal debt.

Although the GOP-controlled House is considered likely to pass a repeal of the health care overhaul, most political analysts believe that it has little chance of clearing the Senate or surviving a presidential veto.

Source: CNN