save billions of dollars. new budget outlook estimates the provision, the so-called bailout will cause a net gain of $8 billion to the government. therefore, repealing the risk corridors as republicans now want to do would cost taxpayers $8 billion. otherwise known as the cost of the food stamp cuts. just passed into law. joining me now to discuss the obamacare bailout and fictions about obamacare, msnbc contributor josh barro and politics at business insider. we have to be clear, there is no bailout here. this program exists for a really good reason, too, which is obamacare is creating a whole new insurance market. we don t know exactly who s going to sign up for the health plans and the insurers don t know. when they have to go and set premiums for these things, they have to guess and if they guess people might be really sick, they ll set really high premiums, people won t buy the plans. the way the risk corridor works is the government says for the first three years of the program
would cost taxpayers? well, it s probably going to save billions of dollars. new budget outlook estimates the provision, the so-called bailout will cause a net gain of $8 billion to the government. therefore, repealing the risk corridors as republicans now want to do would cost taxpayers $8 billion. otherwise known as the cost of the food stamp cuts. just passed into law. joining me now to discuss the obamacare bailout and fictions about obamacare, msnbc contributor josh barro and politics at business insider. we have to be clear, there is no bailout here. this program exists for a really good reason, too, which is obamacare is creating a whole new insurance market. we don t know exactly who s going to sign up for the health plans and the insurers don t know. when they have to go and set premiums for these things, they have to guess and if they guess people might be really sick, they ll set really high premiums, people won t buy the plans. the way the risk corridor works is the gover
well, it s probably going to save billions of dollars. new budget outlook estimates the provision, the so-called bailout will cause a net gain of $8 billion to the government. therefore, repealing the risk corridors as republicans now want to do would cost taxpayers $8 billion. otherwise known as the cost of the food stamp cuts. just passed into law. joining me now to discuss the obamacare bailout and fictions about obamacare, msnbc contributor josh barro and politics insid s at business we have to be clear, there is no bailout here. this program exists for a really good reason, too, which is obamacare is creating a whole new insurance market. we don t know exactly who s going to sign up for the health plans and the insurers don t know. when they have to go and set premiums for these things, they have to guess and if they guess people might be really sick, they ll set really high premiums, people won t buy the plans. the way the risk corridor works is the government says for the fir
rescinded or disavowed their vote reopening the government, preventing economic catastrophe. there is still a huge amount of tension over where to go next. i guess i wonder what, you know, your thinking is for the months ahead. well, look, i think maybe john boehner wasn t joking because it s entirely possible congress built on its 9% approval rating and won t be in session in december. i think we re going to dumb down success. success is probably going to be something on the order of, you know, a $10 billion to $20 billion change in the budget outlook, something little on one side, something a little bit on another side to get past some of the sequester cuts. but i think look, you know, the fact that legislating is probably largely done for the year, i don t think is totally surprising. immigration reform wasn t going to happen this year.
weeks and average americans and what the cuts will mean but i do think we ll go past of the march 1 deadline and those cuts will go into effect not for rest of the year, but probably for a few weeks. but it does seem they will go in effect because the two sides are so far apart. and nancy, what happens if they do go into effect? what s the effect to the economy? well, that s the biggest concern at this point. the white house yesterday put out a briefing and a memo who talked about how the cuts will affect everyday people. it s going to affect everything from cuts to fbi personnel to cuts to food safety inspection. headstart, preschool programs. but the biggest concern, of course, as well, it will have a drag on the economy. the congressional budget office which is like the official budget score keeper of washington, put out a new budget outlook for 2013 this week. and it really talked about how, yes, the economy is recovering.