Senate version of health care RAISES the deficit
Not as though this should be a shock to anyone, but over the weekend the government's Chief Actuary for Medicare and Medicaid gave their official estimate of the impact of the Senate's version of health care reform on the government's balance sheet.
The result? Red ink. Two-hundred and eighty billion worth over the coming decade.
Via Human Events:
Regarding “Coverage,” CMS estimates that the measure will “reduce the
number of uninsured from 57 million under current law to 23 million”
primarily by increasing eligibility for Medicaid. What this does is
shift the cost burden from the federal government to cash-short states.
It’s an accounting gimmick, not a cost savings. ...
CMS estimates that 18 million people would receive new coverage under
Medicare with a further 2 million who have employer-based insurance
signing up for Medicaid as supplemental insurance. They also estimate
that 21 million people will receive coverage “through the newly created
Crowding out private insurance (the Democrats’
real goal), CMS guesses that 15 million people will drop their current
individual health insurance policies to join an Exchange. Furthermore,
the report notes that “some smaller employers would be inclined to
terminate their existing coverage, and companies with low salaries
might find it to their -- and their employees’ -- advantage to end
their plans, thereby allowing their workers to qualify for heavily
subsidized coverage through the Exchanges.”
In other words, currently-private insurance costs will suddenly be borne in large part by taxpayers. ...
And, of course, the bigger long-term problem here is one of liberty. As in, the more the government is on the hook for paying for our healthcare, the more control the government has over our healthcare. And the less control we have as individuals.
Which makes this bill a perfect example of the old saying that, "there's no such thing as a free lunch".