Soon after the Supreme Court upheld the bulk of Obamacare, the Congressional Budget Office came out with a new estimate for its cost. No surprise: As before, CBO said it would reduce, not raise, the federal deficit. This put a warm glow in the heart of every Democrat and Obamacare supporter.
Too bad it’s a fairy tale. With the election only weeks away, the point must be emphasized: This law is a fiscal calamity.
CBO said the court ruling reduces the 10-year cost of Obamacare by $84 billion because states won’t be required to expand coverage under Medicaid. But that doesn’t come close to solving the budget problem.