Top income earners have been hardest hit by the recession and taxes, according to the Congressional Budget Office.
The Supreme Court’s ruling on the president’s controversial health care law could end up costing taxpayers up to half-a-trillion dollars more than originally thought.
“In all, between 2013 and 2022, deficits would total $6.4 trillion (or 3.2 percent of total GDP projected for that period), $3.5 trillion more than the cumulative deficit in CBO’s baseline,” the nonpartisan office wrote in its analysis of the president’s budget.
The non-partisan Congressional Budget Office estimates that Obamacare will cost taxpayers $1.76 trillion, double the $900 billion price tag advanced by the president, and could lead businesses to cut off coverage to 20 million Americans, according to a report released Wednesday.
The Congressional Budget Office underestimated the deficit by $93 billion, the non-partisan organization said on Tuesday.