The Congressional Budget office has assessed the Republican Health Care insurance plan and the results are less than stellar. The CBO estimates 24 million Americans will lose health care coverage by 2026, 14 million next year, and the plan will reduce the deficit by $337 Billion. According to the CBO federal spending would be reduced by $1.2 Trillion and Federal Revenue would be reduced by $0.9 Trillion by 2026. With a deficit over $20 TRILLION, the savings aren’t impressive. (House Speaker Ryan described the reduction as “substantial”. Seriously?)
Insurance premiums will increase by 15% to 20% in the first years of the Republican plan but decrease by 10% in 2026. Older Americans will pay “substantially more” and younger people would pay less. (The Boomers aren’t going to like that.)
White House spokesman Sean Spicer was quick to say CBO is likely to be ‘wildly off’ in their estimates. Speaker of the House Paul Ryan was also quick to defend their plan, making it clear that this is just the first of a three-part plan to replace Obamacare. According to Ryan the second and third parts will include tort reform and give Americans the ability to purchase health insurance across state lines. Ryan is very busy defending this current mess of a plan.
Some Republicans believe even if this bad bill passes the House it will be completely re-written in the Senate. Republicans in the House are fearing a backlash next year when they run for re-election if this bill is successful.
Why can’t they just repeal Obamacare as they’ve promised for years? Why must Republicans on the Hill be such wimps? They’re right, many of them could lose their seats next year if Republicans cannot do better than this current bill to replace Obamacare. And it sure won’t help our Republican candidates in Virginia this year.
