New health care cost? $820,000,000,000
Don't blame the CBO. The simply missed a key part in scoring this boondoggle. It was Chuck Blahous that scored this, and while we're not surprised at his numbers, we're sure it will knock a lot of people out of their seats. HT to Captain Ed
Nearly lost in all of the publicity about the Congressional Budget Office’s finding that proposed health care legislation would worsen the current-law deficit by $239 billion over the next 10 years is something far more troubling: The proposed legislation would actually worsen the imbalance in federal health care programs by more than $800 billion over the next 10 years — and far more thereafter.
CBO’s analysis shows quite clearly that the proposed changes to federal health care commitments would worsen the deficit by $1.042 trillion, with proposed health care savings netting only $219 billion. The net effect of these health care “reforms,” therefore, is to dig the financial hole in federal health care programs deeper — not by $239 billion but by $820 billion over the next decade.
Worse yet, by the 10th year of the analysis, the additional annual costs of the proposed health care changes would be more than four times the expected savings — worsening the imbalance by more than $150 billion in the 10th year alone. Thus, the more than $800 billion gap would only grow larger over time, with no end in sight.
Just this past week, President Barack Obama promised explicitly that such an outcome would not come to pass: “I will not sign health insurance reform — as badly as I think it’s necessary, I won’t sign it if that reform adds even one dime to our deficit over the next decade — and I mean what I say.”
Legislation currently under consideration doesn’t even come close to this standard. The health care changes now on the table wildly exceed, by more than $800 billion, the fiscal criteria the president has said he will insist upon.
The oft-cited finding that these bills as a whole would add “only” $239 billion to the deficit over 10 years is based on the Joint Committee on Taxation’s accompanying analysis of provisions to increase unrelated income taxes by $581 billion during the same time period.
Whatever the merit of these other income tax increases, they have nothing to do with health care reform or with “bending the cost curve.” They are, rather, being proposed to offset part of the true $820 billion deficit impact of proposed federal health care expansion.
Let's put this in perspective the way I did in the title of the post. That's $820,000,000,000. And remember that Mr. Blahous says that the costs would continue to increase with no end in sight. There is no way this nation can sustain those costs. Eventually, the government will run out of rich people to tax, and they'll move onto the middle class next.
We know a lot of people would like us to focus on the crap in the proposed reform, but we'd rather focus on the money. This administration is spending money it doesn't have, and can't afford. We can't get nations like China to buy up our debt as it is, and China is warning us about the road this president has embarked on. It will lead to economic disaster for us and for the world.
We know there are those out there that believe Barry is doing this on purpose to bring the nation to it's knees. We don't really believe that. He's moving right along with that 40 year wish list from the Democrats that they want enacted. And he's simply too obtuse to realize the damage he's doing to the country. Recall, if you will, this infamous quote made by Biden:
"And he's gonna need help. And the kind of help he's gonna need is, he's gonna need you - not financially to help him - we're gonna need you to use your influence, your influence within the community, to stand with him. Because it's not gonna be apparent initially, it's not gonna be apparent that we're right."
Biden said that at a campaign stop where he told supporters that Barry would be tested -- internationally -- in his first six months. Now while that has been true, thus far (see Iran and North Korea, folks), but it's also true here in America. Biden, like Obama, believes that they can do no wrong, and that whatever they are doing is good for the nation. And they'll plead with the public to trust them and give them a chance. Their ideas will work.
We didn't want them passing the Pork-A-Palooza stimulus because we knew that you can't spend your way out of a recession.
We abhorred the auto bailouts and the bank bailouts. The free market has a way to deal with insolvent businesses. They get bought up by other companies, or they go under. The government spending money -- our money -- to prop them up, and eventually seize a majority ownership in them is not only wrong, it's downright illegal.
The health care industry is 1/6th of America's economy. The provisions of the reform alone will kill us. It'll be rationed health care, care denied to seniors, taxpayer funded abortions, death counseling for the elderly, poor care, long waits, doctors that will limit the amount of patients they see, and eventually an exodus of health care professionals. And on top of all that, we'll be forking over a price tag that no one in their right mind should be paying for half-assed care.
If the government wants real health care reform, then start with tort reform to lower costs. Look at the idea of health savings accounts, provided by a tax credit everyone in the country would get, and allow us to control our health care as opposed to Uncle Sam controlling it. Those two ideas would go a lot further in bringing down health costs, reforming the industry, and preserving our own individual liberty and freedom. Freedom? Liberty? You're probably asking "Thomas, what do you mean by that?" Captain Ed covered it yesterday. The freedoms that will be stripped from us in this debacle are integral to each and every one of us. If this passes (and we're not convinced it will as it's written now) those freedoms will be stripped from us, and the government will have near absolute control over our lives.
If we let this happen we'll be the puppets on the string, and we'll be on the hook for the cost. This isn't reform. This isn't change. It's control because liberals don't trust us to make any decision on our own. They are so enamoured with their beloved Mother Government, and refusing to see that history is not on their side with that idea, that they are leading this nation over the cliff like a group of lemmings.
Publius II
Nearly lost in all of the publicity about the Congressional Budget Office’s finding that proposed health care legislation would worsen the current-law deficit by $239 billion over the next 10 years is something far more troubling: The proposed legislation would actually worsen the imbalance in federal health care programs by more than $800 billion over the next 10 years — and far more thereafter.
CBO’s analysis shows quite clearly that the proposed changes to federal health care commitments would worsen the deficit by $1.042 trillion, with proposed health care savings netting only $219 billion. The net effect of these health care “reforms,” therefore, is to dig the financial hole in federal health care programs deeper — not by $239 billion but by $820 billion over the next decade.
Worse yet, by the 10th year of the analysis, the additional annual costs of the proposed health care changes would be more than four times the expected savings — worsening the imbalance by more than $150 billion in the 10th year alone. Thus, the more than $800 billion gap would only grow larger over time, with no end in sight.
Just this past week, President Barack Obama promised explicitly that such an outcome would not come to pass: “I will not sign health insurance reform — as badly as I think it’s necessary, I won’t sign it if that reform adds even one dime to our deficit over the next decade — and I mean what I say.”
Legislation currently under consideration doesn’t even come close to this standard. The health care changes now on the table wildly exceed, by more than $800 billion, the fiscal criteria the president has said he will insist upon.
The oft-cited finding that these bills as a whole would add “only” $239 billion to the deficit over 10 years is based on the Joint Committee on Taxation’s accompanying analysis of provisions to increase unrelated income taxes by $581 billion during the same time period.
Whatever the merit of these other income tax increases, they have nothing to do with health care reform or with “bending the cost curve.” They are, rather, being proposed to offset part of the true $820 billion deficit impact of proposed federal health care expansion.
Let's put this in perspective the way I did in the title of the post. That's $820,000,000,000. And remember that Mr. Blahous says that the costs would continue to increase with no end in sight. There is no way this nation can sustain those costs. Eventually, the government will run out of rich people to tax, and they'll move onto the middle class next.
We know a lot of people would like us to focus on the crap in the proposed reform, but we'd rather focus on the money. This administration is spending money it doesn't have, and can't afford. We can't get nations like China to buy up our debt as it is, and China is warning us about the road this president has embarked on. It will lead to economic disaster for us and for the world.
We know there are those out there that believe Barry is doing this on purpose to bring the nation to it's knees. We don't really believe that. He's moving right along with that 40 year wish list from the Democrats that they want enacted. And he's simply too obtuse to realize the damage he's doing to the country. Recall, if you will, this infamous quote made by Biden:
"And he's gonna need help. And the kind of help he's gonna need is, he's gonna need you - not financially to help him - we're gonna need you to use your influence, your influence within the community, to stand with him. Because it's not gonna be apparent initially, it's not gonna be apparent that we're right."
Biden said that at a campaign stop where he told supporters that Barry would be tested -- internationally -- in his first six months. Now while that has been true, thus far (see Iran and North Korea, folks), but it's also true here in America. Biden, like Obama, believes that they can do no wrong, and that whatever they are doing is good for the nation. And they'll plead with the public to trust them and give them a chance. Their ideas will work.
We didn't want them passing the Pork-A-Palooza stimulus because we knew that you can't spend your way out of a recession.
We abhorred the auto bailouts and the bank bailouts. The free market has a way to deal with insolvent businesses. They get bought up by other companies, or they go under. The government spending money -- our money -- to prop them up, and eventually seize a majority ownership in them is not only wrong, it's downright illegal.
The health care industry is 1/6th of America's economy. The provisions of the reform alone will kill us. It'll be rationed health care, care denied to seniors, taxpayer funded abortions, death counseling for the elderly, poor care, long waits, doctors that will limit the amount of patients they see, and eventually an exodus of health care professionals. And on top of all that, we'll be forking over a price tag that no one in their right mind should be paying for half-assed care.
If the government wants real health care reform, then start with tort reform to lower costs. Look at the idea of health savings accounts, provided by a tax credit everyone in the country would get, and allow us to control our health care as opposed to Uncle Sam controlling it. Those two ideas would go a lot further in bringing down health costs, reforming the industry, and preserving our own individual liberty and freedom. Freedom? Liberty? You're probably asking "Thomas, what do you mean by that?" Captain Ed covered it yesterday. The freedoms that will be stripped from us in this debacle are integral to each and every one of us. If this passes (and we're not convinced it will as it's written now) those freedoms will be stripped from us, and the government will have near absolute control over our lives.
If we let this happen we'll be the puppets on the string, and we'll be on the hook for the cost. This isn't reform. This isn't change. It's control because liberals don't trust us to make any decision on our own. They are so enamoured with their beloved Mother Government, and refusing to see that history is not on their side with that idea, that they are leading this nation over the cliff like a group of lemmings.
Publius II
posted by Syd And Vaughn | 12:20 PM
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