The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

CBO Updates and Reverses: ObamaCare will add to deficit – UPDATED!

Posted by iusbvision on March 19, 2010

Kudo’s to Hotair for finding this explosive update so soon.

Via directly from Hotair.com:

The exciting conclusion to yesterday’s post about what a shameless fraud the CBO numbers are. How do you slap a $940 billion pricetag on what’s actually a multitrillion-dollar bill? Well, as we’ve seen, the first thing you do is make sure not to start the program until almost halfway through CBO’s window of time for measuring how much it’ll cost. That cuts a trillion or two right off the top. But what if that still leaves you with budget deficits, thus crippling your sub-moronic talking point about how this massive new federal entitlement will save money over time?

Simple. You break the bill up and pass one of the expensive parts separately later. It’s come to this:

You asked about the total budgetary impact of enacting the reconciliation proposal (the amendment to H.R. 4872), the Senate-passed health bill (H.R. 3590), and the Medicare Physicians Payment Reform Act of 2009 (H.R. 3961). CBO estimates that enacting all three pieces of legislation would add $59 billion to budget deficits over the 2010–2019 period.

Under current law, Medicare’s payment rates for physicians’ services will be reduced by about 21 percent in April 2010 and by an average of about 2 percent per year for the rest of the decade. H.R. 3961 would increase those payment rates by 1.2 percent in 2010 and would restructure the sustainable growth rate mechanism beginning in 2011. Those changes would result in significantly higher payment rates for physicians than those that would result under current law. CBO estimates that enacting H.R. 3961, by itself, would cost about $208 billion over the 2010–2019 period. (That estimate reflects the enactment of two short-term extension acts, which lowered the cost in 2010 by about $2 billion compared with CBO’s estimate of November 4, 2009.)…

CBO estimates that enacting H.R. 3961 together with those two bills would add $59 billion to budget deficits over the 2010–2019 period. That amount is about $10 billion less than the figure that would result from summing the effects of enacting the bills separately. The $10 billion difference occurs primarily because H.R. 3590 and the reconciliation proposal would modify how the government’s payments to Medicare Advantage plans are set.

Still waiting to find out that if that memo urging Democrats not to talk about “doc fix” is real or not, but you can see why it’s good advice either way. Not only are they hiding another $208 billion in costs, but their dishonesty in passing doc fix separately will cost another $10 bil that could be avoided by passing everything together. Except, of course, that trying to pass everything together would send “fiscally conservative” Democrats fleeing for the hills — not because they care about a trillion-plus pricetag, but because they care that you might care. Or maybe they don’t even care about that, given the way the votes are falling today. Add Suzanne Kosmas to the roll of the shame.

More to come tonight, no doubt, in a very special edition of the Friday evening news dump.

Update: Oh look, some more hidden costs discovered by CBO. Who’s up for another $50 billion on the hook just to administer this thing?

In its March 11, 2010, cost estimate for H.R. 3590, the Patient Protection and Affordable Care Act (PPACA), as passed by the Senate, CBO indicated that it has identified at least $50 billion in specified and estimated authorizations of discretionary spending that might be involved in implementing that legislation. The authority to undertake such spending is not provided in H.R. 3590; it would require future action in appropriation bills. The attached table provides additional information about those authorizations.

Discretionary costs under PPACA would arise from the effects of the legislation on several federal agencies and on a number of new and existing programs subject to future appropriation. Those discretionary costs fall into three general categories…

 

UPDATE Associated Press weighs in:

On Friday March 19, 2010, 6:33 pm EDT

WASHINGTON (AP) — Congressional budget scorekeepers say a Medicare fix that Democrats included in earlier versions of their health care bill would push it into the red.

The Congressional Budget Office said Friday that rolling back a programmed cut in Medicare fees to doctors would cost $208 billion over 10 years. If added back to the health care overhaul bill, it would wipe out all the deficit reduction, leaving the legislation $59 billion in the red.

The so-called doc fix was part of the original House bill. Because of its high cost, Democrats decided to pursue it separately. Republicans say the cost should not be ignored. Congress has usually waived the cuts to doctors year by year.

One Response to “CBO Updates and Reverses: ObamaCare will add to deficit – UPDATED!”

  1. Kevin Resca said

    I’m glad someone caught the Dems in this outright lie. Why aren’t Republicans getting this message out to the American People??

    [Hi Kevin thanks for stopping by. I think that the word is getting out. It gets out on blogs and on Fox and on radio etc. The approval numbers for the Tea Party in a recent Gallup Poll are just another example. The elite media’s monopoly on information is over. Just be sure to not let the elite media’s lock step narrative get you down! :) – Editor]

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