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Breaking News: The Bottom Line on Reid’s Health Care Bill
From Politico:
Senate Majority Leader Harry Reid’s health reform bill comes in at $849 billion, and will reduce the federal budget deficit by $127 billion in the first 10 years, the Congressional Budget Office says, according to a senior Democratic aide.
I wonder if that’s enough to perusade the Senate 3.
5 Responses to “Breaking News: The Bottom Line on Reid’s Health Care Bill”
… and didn't provide a link to actually look at the bill. A lot of tricks are used to skew the numbers, so the numbers themselves are rather meaningless until we see how the bill gets there.
As I recall the House bill math, there is the counting of 10 tax increase years against 7 years of new health spending. Therefore, it may technically be correct on it deficit effect over the ensuing ten calendar years, but nonetheless does not disclose the true cost of 10 years of health spending. But, after all, we had to find a way to say it cost less than $900 billion.
The biggest fallacy is that you can offer more coverage without dramatically increasing demand. Most of the unfunded liability of Medicaid/Medicare comes from not anticipating how dramatically costs would rise. Hopefully, all sides know that the numbers are mostly fantasy.
The bill is junk, no doubt, just as is the House bill. What matters is that the Senate got off the ground and actually made “progress.” Now they may well get together with the House and produce a (bad) bill for Obama to sign before year's end, and then all congratulate themselves and be cheered by the choir.
“Hopefully, all sides know that the numbers are mostly fantasy.”
I'm certain they do. These are the same people who chose not to reform Medicare at all before proceeding to write this legislation affecting everyone else (in addition to Medicare beneficiaries).