Obama and his party’s spending habit are the reasons for the fiscal cliff we currently face. None of this ever happened under that “evil” President Bush. Neither did the credit downgrade. The CBO points out the biggest area that could be cut to help reduce Obama’s record deficits. Obamacare is where cuts should be made.
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.