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Friday, November 16, 2012

Chart- CBO: Largest Potential Deficit Cut Would Be Repealing Obamacare Subsidies

By Susan Duclos

Via Investors Business Daily we see a CBO chart which shows that the largest potential deficit cut, three times the size of anything else, would be to repeal Obamacare subsidies.

A Congressional Budget Office report on ways to reduce the deficit, released last week to help guide budget negotiators in the upcoming "grand bargain" talks, contains one eye-opening item.

It turns out that the single biggest pot of potential deficit savings available to lawmakers is ... ObamaCare.

In its list of "options to reduce mandatory spending" and cut the deficit, the CBO says that repealing ObamaCare's massive insurance subsidies would cut federal spending by $150 billion in 2020 alone. Repealing the individual mandate would save another $40 billion that year, the CBO says.

No other single spending cut proposal on the CBO's list — and no tax hikes under serious consideration in Washington — comes close.

Read the entire article over at IBD

So while Obama and Congressional members meet again to attempt to negotiate a way to keep the nation from going over the fiscal cliff, which the CBO says will send the U.S. into another recession, and while Obama refuses the Republican's offer of hundreds of billions in new revenues (not from tax hikes) unless he can add tax increases for small businesses into the deal, it is worth noting that the biggest savings would be the repeal of Obamacare subsidies, to which Obama will not even entertain.

Note- Obama and Democrats continue to attempt to mislead Americans by calling it a tax increase for the "wealthy" and not acknowledging the thousands upon thousands of small businesses that file individually that would get caught in Obama's tax scheme.