Obamacare's Good News Only Tells Half the Story

We should be glad to learn that the CBO thinks we'll be spending less on subsidies. But we shouldn't put more weight on that statistic than it can actually bear.

Good news? Maybe.

Photographer: Matt McClain/The Washington Post via Getty Images

Is Obamacare costing less than we expected? I've seen notes to that effect on the Web and social media, thanks to newly released estimates from the Congressional Budget Office. However, that's something of a misreading of the CBO document, which only covers the cost of the insurance coverage provisions in Obamacare. Those are obviously a huge part of the law. But they're not the only part of the law, and we don't have a CBO estimate for the rest.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.