With more than 8 million Americans now dependent on medical coverage through Obamacare, the law may finally be cemented into the foundation of U.S. society.
Eight million people signed up for Obamacare in the law’s first year, President Barack Obama said, declaring that Republicans should stop trying to repeal the measure and work to improve it instead.
President Barack Obama’s proposed 2015 budget would increase taxes by $1.4 trillion over the next decade compared with current law, the budget agency said.
For Obamacare procrastinators, time’s up.
U.S. taxpayers would need to pay an average of $1,259 more a year to make up the federal and state taxes lost to corporations and individuals sheltering money in overseas tax havens, according to a report.
The U.S. government’s deficit will fall to $492 billion this year, according to the Congressional Budget Office, a steeper drop than originally predicted from $680 billion in fiscal year 2013.
Treasuries declined for the first time in three days as stronger-than-forecast economic data boosted stocks and reduced the appeal of the safety of U.S. government bonds.
The Congressional Budget Office, the main arbiter of Obamacare’s effects on the economy, left unchanged its estimate of the number of people expected to gain insurance coverage under the law.
Six months ago, global finance officials meeting in Washington berated the U.S. for failing to put its fiscal house in order. This time, the critics were silent.
As the political fight over raising taxes for high-income Americans fades away, so are predictions for negative economic fallout.
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