The incoming Republican majority in the House of Representatives has a new rule. They must offset the cost of any legislation that would increase federal spending. Sounds good, yes?
And yet, they are attempting to repeal Obama’s health care reform bill, a bill that the Congressional Budget Office says will reduce the federal deficit by $143 billion.
So what to do? Simple. The Republicans exempt repealing health care reform from their new rules. They have modified the new rule so that it doesn’t apply to repealing health care reform.
But wait, there’s more. They have also exempted extending the Bush tax cuts for the rich. Oh, and the lowered estate tax. And changes to the Alternative Minimum Tax. Actually, they exempted all tax reductions. And on top of that, they also exempted the cost of implementing any trade agreements. Why not?
I’m so glad they are serious about balancing the budget.
UPDATE: The Congressional Budget Office estimates that repealing Obamacare will cost $230 billion and will result in fewer people having health insurance and will raise the price of health insurance for those people purchasing on the individual market. Needless to say, Republicans disputed the nonpartisan CBO results by making up their own numbers.