CBO goofed: Obamacare doesn't "save" money

December 28, 2009 - 2:19pm — Capitol Notebook

Before the debate over health care reform really got started, President Obama said that the final result of reform should NOT increase the deficit (and debt).   In fact, he said he would not sign a bill that added "one dime" to the deficit.

Well, we're about to find out how serious that promise was, because it turns out that the calculator at the Congressional Budget Office doesn't work so well.  In its first look at the Senate version of the bill, the CBO showed a savings, leading Obama was able to take to the stage and declare "mission accomplished", saying:

"This bill with strengthen Medicare and extend the life of the program.
Because it’s paid for and gets rid of waste and inefficiency in our
health care system this will be the largest deficit reduction plan in
over a decade. In fact, we just learned from the Congressional Budget
Office that this bill will reduce our deficit by $132 billion over the
first decade of the program, and more than one trillion dollars in the
decade after that."

But it turns out that it's easy to show a bill costs less than it really does if you count the "savings" twice.  Which is what the CBO just admitted that it did in its analysis of the bill.

The result?  A 170 BILLION dollar hole in the deficit.

And given that reducing costs was (from time to time) one of the primary reason the Democrats claimed that America needed their version of health care reform, it will be interesting to see what the rationale is now...since a Democrat run CBO just said it will actually increase costs.

 

Responces

Comments

Submitted by shirleygoodness... on December 29, 2009 - 8:19am.

In light of the goings-on in D.C, these days, I would think the statement by the President could be more accurately called (If I attempt to remain "politically correct") an example of "creative communication"!!  In truth, I believe it to be a deliberate misrepresentation of Obama's true agenda.  The Democratic party is beginning to look more and more like a Marxist regime.  If you search the manifesto of Marxism you will find that what is happening now, and what has been festering like a cancer for years is the malignancy of atheistic imperialism!  Is this REALLY what we want our children and grandchildren to inherit from us?!!  Is there any intelligent life left in Washington D.C.?????  They are a) deaf b) deceitful c) dangerous d) delinquent e)derelict

 

 

I am trying very hard to remain in check as I comment on your blog, Drew.  I am so concerned about what we are passing on to our children and grandchildren that I cannnot keep quiet!  Our elected officials who represent America to the entire world are selfish, proud, immoral and corrupt, for the most part!  This statement may sound harsh, but is it not truth?  Why does the world look at us like we are all spoiled brats who think they can get away with anything and everything?  What kind of people are representing us to the world?  Think about it, folks!  If our elected officials have no more self-control than the deliberate misrepresentation they are guilty of imposing upon us for their own financial gain; they are guilty of inflamatory conduct and outright treason!

NOT ONE DIME INDEED, Mr. president!!!  I did not vote for you, and I am urging everyone I talk to to vote, with full understanding of your deceptive nature, in the next election.  You have just doomed the Democratic Party, sir!! 

I urge YOU, my friends to use caution and every ounce of self-control you can muster (please, pray for it!) because the angry reactions I am hearing are indicative of potential problems.  The example we give to the world must be honorable and Christian in motive.  We do nothing to disgrace who we are and what we stand for.  SPEAK UP --we MUST... LOSE SELF-CONTROL--Heaven forbids!!  Our Father, Who art in Heaven, hallowed be Thy Name...

 

 

 

 
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