May 12, 2010
ABOUT THOSE CBO NUMBERS.... Remember when Republicans were unhappy with the Congressional Budget Office? The CBO kept saying the Dems' health care reform bill would save hundreds of billions of dollars, and since that proved incredibly inconvenient to Republicans, the party decided the CBO wasn't credible enough for their tastes.
Well, forget all of that. Politico reported yesterday that the CBO now believes the Affordable Care Act "will likely cost about $115 billion more in discretionary spending over ten years than the original cost projections. The additional spending -- if approved over the years by Congress -- would bring the total estimated cost of the overhaul to over $1 trillion."
Republicans were thrilled, and far-right blogs pounced. They probably should have read the report first.
The Center on Budget and Policy Priorities' Paul N. Van de Water took a closer look at the CBO report, and sets the record straight.
In March, when CBO estimated health reform's effects on the deficit, it appropriately included all of the legislation's impact on mandatory spending. (Mandatory spending, like Medicare and Medicaid, continues from year to year unless Congress passes new legislation to reduce it.)
CBO's March estimate did not include the legislation's impact on discretionary spending -- the spending Congress provides each year in appropriation bills -- because the legislation did not directly affect discretionary spending. Moreover, there's no way CBO can estimate how the legislation might affect the future discretionary funding Congress will actually appropriate for any specific program or how that appropriation will affect total discretionary spending.
Instead, CBO in March provided a separate table showing the possible discretionary spending that could -- contingent on future appropriations legislation -- result from enactment of health reform. Yesterday's letter from CBO simply updated those figures.
Tim Fernholz added, in response to the CBO report, "No surprise costs, just the predictable requirement that Congress budget wisely in the face of limited resources. While the attempts to score political points with this report shouldn't surprise you, they shouldn't convince you, either."
And Brian Beutler summarized it this way: "Republicans want to assign to HCR costs Congress may or may not ever actualize -- even though budget experts say that's not how it should be done, and in fact isn't how it's usually done."
There's just not that much to see here. Move along.
—Steve Benen 4:30 PM
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So in other words, Congress can extend health insurance coverage to the vast majority of Americans over a ten year period for about one-seventh the cost of the Iraq War to date. I wonder which expenditure will leave our country better off in the long run?
Posted by: jonas on May 12, 2010 at 4:42 PM | PERMALINK
jonas - doesn't matter - obamarahma and dems are all going to support endless wars.
obamarahma has a secret commission, packed with folks that have wanted to eliminate social security for years, looking at ways to cut the budget.
Endless wars are not even on the table...
obamarahma sold out his progressive debate on REAL reform, used bait-and-switch to create an insurance industry bail out, and will soon be cutting the most successful federal program of all time.
All because they, like dur chimpfurher and the repugs, demand funding endless wars.
Posted by: joe on May 12, 2010 at 4:48 PM | PERMALINK
So how's dat hopey changey thing work out fer ya?
Posted by: joe on May 12, 2010 at 4:49 PM | PERMALINK
"So how's dat hopey changey thing work out fer ya?"
Pretty darned good. The economy is on the mend. We have health care reform, and cap and trade looks like it's on the way. Financial reform is coming along nicely. We're winding down in Iraq, and things seems to be improving in Afghanistan.
How's that paranoia thingy workin' out for you, joe?
Posted by: JPS on May 12, 2010 at 4:55 PM | PERMALINK
JPS - I see the brainwashing works pretty good for you.
obama is nothing more and nothing less than a corporate shill. There has been no meaningful desecalation in iraq and the use of private contractors has INCREASED.
Endless wars are far as the eye can see, and fools like you want to proclaim its all good.
Just wait til obamas secret commission, packed with anti social security folks, proclaims we need to cut programs like this while military expenditures increase (and are off the table).
New boss, same as the old and dick cheney is still laughing all the way to the bank.
And folks like you say, "it is good!"
Posted by: joe on May 12, 2010 at 5:07 PM | PERMALINK
Last I looked, moron, REAL unemployment was almost 20 percent, you call that "on the mend"?
Job creation is hundreds of thousands short of where it needs to be, this despite MASSIVE give-aways to auto industry and wall street.
But obamarahma doesn't miss an opportunity to lie - proclaiming gm repaid its tarp loans - WRONG - they just shuffled around TARP monies!
There is not meaningful indication economy is on the mend - for every bogus figure cited as "proof" there are even more verifiable numbers to show you its a lie.
hopey changey = corporate scam-master
Posted by: joe on May 12, 2010 at 5:11 PM | PERMALINK
So the Repubs are not going to read or study this well and just distort as usual. As you said,nothing to see here but the usual stuff. As for 'hopie changie thing'..for me it is working out quite well in fact! Glad everyone asks!
I approve of everything Obama has done except the wars... I want them ended NOW.
Posted by: mishanti on May 12, 2010 at 5:27 PM | PERMALINK
Joe, you do know that crack is whack. You shouldn't smoke it while blogging, because as we see, it can result in the nonsensical jibberish that you have already typed. Step away from the pipe, Joe. Rehab is your friend.
Posted by: lkt on May 12, 2010 at 5:31 PM | PERMALINK
joey joe joe. You really must seek treatment.
Life is so much harder when you struggle to cling to your worldview, in the face of facts which contradict it.
Posted by: JPS on May 12, 2010 at 5:43 PM | PERMALINK
$115B over 10 years = $11.5B per.
Republicans are "upset" at this large number. Remember that in this context (linked to on this site)...Red States post on Cantor's gimmick...
"It’s a total of less than $6 billion in possible cuts against an annual budget that is over $1.6 trillion in the red. The total cuts offered amount to less than 1/2 of 1 percent if the budget.
...
Nice try Eric, but we don’t find parlour tricks entertaining right now."
The extra cost is double the Cantor gimmick (6B vs. 11.5B), still less than 1/2 of 1%, .oo7% to be exact.
Just remember that....
Posted by: victory on May 12, 2010 at 6:59 PM | PERMALINK
[You are done here. --Moderating Staff]
Posted by: Joe on May 12, 2010 at 10:14 PM | PERMALINK
joey joe joe, you are a spittle flecked idiot.
Grow up, get a life.
Posted by: JPS on May 12, 2010 at 10:20 PM | PERMALINK
Posted by: joe on May 13, 2010 at 12:04 AM | PERMALINK