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CBO Roundup: The March 2012 Baseline

- March 13, 2012

The National Debt Held By The Public Will Reach 93.2 Percent Of GDP By 2022. (“Updated Budget Projections: Fiscal Years 2012 To 2022,” Congressional Budget Office, 3/13/12)

The Congressional Budget Office Finds That Social Security Will Be Bankrupt By 2016

By 2016, Social Security’s Disability Trust Fund Will Be Bankrupt. (“Combined OASDI Trust Funds: March 2012 Baseline,” Congressional Budget Office, 3/13/12)

  • The Cumulative Shortfall In The Disability Trust Fund Will Total $260 Billion By 2022. (“Combined OASDI Trust Funds: March 2012 Baseline,” Congressional Budget Office, 3/13/12)
  • Social Security Will Run A Primary Deficit Indefinitely, Reaching $113 Billion A Year By 2022. (“Combined OASDI Trust Funds: March 2012 Baseline,” Congressional Budget Office, 3/13/12)

Medicare’s Hospital Trust Fund Will Continue To Run A Deficit

Medicare’s Hospital Insurance Trust Fund Will Run An Annual Deficit Of $16.7 Billion By 2022 As Its Balance Dwindles To Just $67.6 Billion. (“Medicare: March 2012 Baseline,” Congressional Budget Office, 3/13/12)

Medicare’s Net Outlays Will Grow At An Annual Rate Of 10.7 Percent By 2022, Up From 7.6 Percent For 2011. (“Medicare: March 2012 Baseline,” Congressional Budget Office, 3/13/12)

The Cost Of ObamaCare Continues To Cost More Than Previous Estimates

The Cost Of ObamaCare’s Health Insurance Exchanges Will Reach $129 Billion A Year By 2022, With Subsidies Averaging $7,270 Per Enrollee. (“Combined OASDI Trust Funds: March 2012 Baseline,” Congressional Budget Office, 3/13/12)

CBO Estimates That ObamaCare’s Insurance Coverage Provisions To Cost $1.5 Trillion By 2021, Up $51 Billion From Last Year’s Estimate. (Updated Estimates For The Insurance Coverage Provisions Of The Affordable Care Act, Congressional Budget Office, 3/13/12)

ObamaCare Increases Entitlement Spending On Medicaid And CHIP $168 Billion By 2021. “According to CBO and JCT’s projections for the 2012–2021 period, spending for Medicaid resulting from the coverage provisions of the ACA will be $160 billion more than estimated last year, and such spending for CHIP will be $8 billion more.” (Updated Estimates For The Insurance Coverage Provisions Of The Affordable Care Act, Congressional Budget Office, 3/13/12)

ObamaCare Penalizes Employers And Uninsured Individuals At The Tune Of $26 Billion. (Updated Estimates For The Insurance Coverage Provisions Of The Affordable Care Act, Congressional Budget Office, 3/13/12)

4 Million People Will No Longer Receive Health Insurance Coverage Through Their Employer. “The extent of the changes varies from year to year, but in 2016, for example, the ACA is now estimated to reduce the number of people receiving health insurance coverage through an employer by an additional 4 million enrollees relative to the March 2011 projections.” (Updated Estimates For The Insurance Coverage Provisions Of The Affordable Care Act, Congressional Budget Office, 3/13/12)




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