Betsy McCaughey: CBO Report on ACA Repeal Costs Is 'Gibberish'

A Congressional Budget Office report asserting a repeal of Obamacare would hike the federal budget deficit by $353 billion is "gibberish" — since a repeal would actually "be a huge tax cut for the American people," former New York Lt. Gov. Betsy McCaughey told Newsmax TV Friday.

In an interview with "Newsmax Prime" host J.D. Hayworth, the health policy expert declared "it may cost the government money, but it means you have the money."

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"Let's decode this Washington gibberish," she explained. "What the CBO is really saying is that the taxes the Obamacare law force you to pay are much bigger than the benefits you get back. If the law is repealed, those taxes will no longer be taken out of your pocket, and so your tax cut will be bigger than the benefits you give up...."

From Washington's point of view, she noted, "that means it's costing them money. But guess what, it's saving you money."

"When they say they're canceling taxes, it costs them money," she added. "That's going to add to their deficit. But … it's going to mean you have money in your pocket to spend. So repealing Obamacare is going to be a huge tax cut for the American people."

McCaughey also is skeptical about a nationwide Medicare fraud sweep that, according to Reuters, has arrested 243 people across the country for allegedly submitting fake billing that totaled $712 million.

"I'm always glad to hear when they're looking into fraud and there probably is plenty of fraud, but just remember, this is the same Obama administration that has never built the back end of the Obamacare computer system," and the same bureaucracy that can't verify the accuracy of Obamacare subsidy payments, she said.

"So I'm not sure that they're identifying the right people who are committing fraud under Medicare. It's hard to believe they're doing anything right."

"In Washington, no one is minding the store," she added.