Of course, they didn’t exactly tell you that back when they were debating the bill:
Taking into account all of the provisions related to health care and revenues, the two pieces of legislation were estimated to increase mandatory outlays by $401 billion and raise revenues by $525 billion. …
Imagine two scenarios of a lawmaker who was on the fence last March. He or she is a Blue Dog Democrat, or a Democrat from a fiscally conservative red district, and is deeply concerned that the legislation may be fiscally responsible. He is presented with two different statements from CBO:
1. “CBO says these bills will reduce the budget deficit by $124 billion over the next decade.”
2.“CBO says these bills will increase federal entitlement spending by $401 billion over the next decade, and will increase taxes by $525 billion over that same time period, for a net deficit reduction of $124 billion.”
These are very different statements. Both are true. CBO said only the first when Members were looking to understand the fiscal impacts of this legislation.
To hear Democrats tell it, Obamacare reduces the national debt by curing America’s health care woes. Really, it reduces deficits (at least on paper) by taxing us more.
And, of course, our deficits won’t actually be reduced by this legislation. The cost estimates are low. These entitlement programs always soar past their cost expectations. And Democrats have already demured on many of the spending cuts they promised in the bill.
So not only will Obama be a huge tax hike, transferring more wealth from the private sector to the public sector, but our deficits will continue to grow as well.