CBO Says Repealing ObamaCare Would Reduce Spending by $540 B

Yes, Nmysys, I truly hope that they do. Because the cost of repealing the health care is expected to increase the federal deficit by $145 billion dollars and increase people's insurance costs. Here's the actual memo to Rep Boehner.
http://www.cbo.gov/ftpdocs/120xx/doc120 ... Repeal.pdf

Honorable John Boehner
Speaker of the House
U.S. House of Representatives
Washington, DC 20515

Dear Mr. Speaker:
The Congressional Budget Office (CBO) has reviewed H.R. 2, the Repealing the Job-Killing Health Care Law Act, as introduced on January 5, 2011. That bill would repeal the Patient Protection and Affordable Care Act (PPACA, Public Law 111-148) and the provisions of the Health Care and Education Reconciliation Act of 2010 (P.L. 111-152) that are related to health care. CBO has not yet developed a detailed estimate of the budgetary impact of repealing that legislation, although it is working with the staff of the Joint Committee on Taxation (JCT) to complete such an estimate in the near future. Because Congressional deliberations on H.R. 2 could begin very soon, CBO is providing in this letter a less-detailed preliminary analysis of that legislation. CBO and JCT estimated that the March 2010 health care legislation would reduce budget deficits over the 2010–2019 period and in subsequent years; consequently, we expect that repealing that legislation would increase budget deficits.

The remainder of this letter describes—in broad terms and on a preliminary basis—CBO’s assessment of the effects that repealing PPACA and the relevant provisions of the Reconciliation Act would have on federal budget deficits, the federal government’s budgetary commitment to health care, the number of people with health insurance, and health insurance premiums in the private market.

Impact on the Federal Budget in the First Decade
As a result of changes in direct spending and revenues, CBO expects that enacting H.R. 2 would probably increase federal budget deficits over the 2012–2019 period by a total of roughly $145 billion, plus or minus the effects of technical and economic changes that CBO and JCT will include in the forthcoming estimate.
Effects on Health Insurance Premiums
In particular, if H.R. 2 was enacted, premiums for health insurance in the individual market would be somewhat lower than under current law, mostly because the average insurance policy in this market would cover a smaller share of enrollees’ costs for health care and a slightly narrower range of benefits. Although premiums in the individual market would be lower, on average, under H.R. 2 than under current law, many people would end up paying more for health insurance—because under current law, the majority of enrollees purchasing coverage in that market would receive subsidies via the insurance exchanges, and H.R. 2 would eliminate those subsidies.

http://factcheck.org/2011/01/a-job-killing-law/
A ‘Job-Killing’ Law?
House Republicans misrepresent the facts. Experts predict the health care law will have little effect on employment.
January 7, 2011

As it's an exercise in futility, mere political posturing (look a the name of the bill, for Heaven's sake, inflammatory words at their finest), and a waste of time and taxpayer money for this repeal to move forward (it will never pass the Senate or Presidential veto), Republicans should be focusing on working with Dems and Independents to fashion a compromise on healthcare. Work together to fix what's wrong with the first bill and actually accomplish something.