A new report, cited in various media outlets, claims that repealing Obamacare would “cost roughly $350 billion” over a decade and “leave no funds available for ‘replacement’ legislation.” In truth, repealing Obamacare and replacing it with a good conservative alternative would cut federal spending by at least $1 trillion over a decade, and probably more. Only in Washington could repealing a huge federal program with a 10-year price tag of roughly $2 trillion be described as bringing about a “cost” increase.

The report in question was released by the Committee for a Responsible Federal Budget (CRFB). It essentially parrots the projections of the Congressional Budget Office—the CRFB writes that its estimates “are based primarily” on three CBO reports—which have been wrong about Obamacare’s coverage numbers and costs at nearly every turn. (For example, the CBO originally said Obamacare would lead to 15 million more people having private health insurance as of 2017 (23 million in the exchanges minus 8 million who lost other private plans), while it now says that tally is only 9 million (15 million in the exchanges minus 6 million who lost other private plans)—just 60 percent of the original projection.)