PDA

View Full Version : Latest CBO report....



TXduckdog
10-08-2009, 11:19 AM
Yesterday's Congressional Budget Office (CBO) report pegs its cost at $829 billion over the next 10 years. The CBO report claims the bill won't add to the budget deficit until 2015óbut the bill only manages that feat by delaying benefits and imposing taxes and Medicare and Medicaid cuts up front.


Tax us first...for 2 -3 years and THEN we get the benefits....that's rich.

YardleyLabs
10-08-2009, 12:24 PM
Actually, the benefits grow over time and are primarily related to anticipated constraints on non-physician fee for service rates under Medicare.

"After 10 years the bill would result in a deficit reduction of $81 billion, and continue to save the country money each year, the report said. While the CBO usually doesn't venture into projecting costs past 10 years, Elmendorf said that after 2019, cost savings and revenues would grow faster than the cost of expanding insurance." (http://www.medpagetoday.com/PublicHealthPolicy/Washington-Watch/16339)

A summary of the report, included in the transmittal letter from Elmendorf, is at http://media.washingtonpost.com/wp-srv/politics/documents/CBO_Baucus_letter.pdf?sid=ST2009100704101.

TXduckdog
10-08-2009, 06:37 PM
Much better report at:

http://online.wsj.com/article/SB125494356104171425.html

The nonpartisan Congressional Budget Office found the sweeping measure will cover 94% of nonelderly legal U.S. residents, up from about 83% currently. The bill will cut the deficit by $81 billion over the 10-year period, owing to trims in Medicare spending and new taxes.

Most of the bill's funding comes from $404 billion in cuts to Medicare and other government insurance programs that Democrats say will reduce waste but won't hurt recipients' benefits. An additional $201 billion comes from a 40% excise tax on particularly generous health-insurance plans levied on insurers. The rest comes from annual fees on insurers, medical-device makers and pharmaceutical companies, as well as a series of other changes to the tax treatment of health expenses.


This is serious voodoo math. See my post on how well this worked in NY, Washington and Tennessee.....IT DIDN'T.

Raymond Little
10-09-2009, 07:02 AM
Much better report at:

http://online.wsj.com/article/SB125494356104171425.html

The nonpartisan Congressional Budget Office found the sweeping measure will cover 94% of nonelderly legal U.S. residents, up from about 83% currently. The bill will cut the deficit by $81 billion over the 10-year period, owing to trims in Medicare spending and new taxes.

Most of the bill's funding comes from $404 billion in cuts to Medicare and other government insurance programs that Democrats say will reduce waste but won't hurt recipients' benefits. An additional $201 billion comes from a 40% excise tax on particularly generous health-insurance plans levied on insurers. The rest comes from annual fees on insurers, medical-device makers and pharmaceutical companies, as well as a series of other changes to the tax treatment of health expenses.


This is serious voodoo math. See my post on how well this worked in NY, Washington and Tennessee.....IT DIDN'T.
Did the CBO take into account losing the 201 Billion once the excise tax kicks in????? Kinda like the luxury tax from the 90's.:rolleyes: