Morgen on July 16, 2009 at 11:46 am
The Director of the CBO, Douglas Elmendorf, testified today before the Senate Budget Committee this week on the budget impact of the healthcare legislation now being considered by Congress. The Washington Post reports (emphasis added):
Instead of saving the federal government from fiscal catastrophe, the health reform measures being drafted by congressional Democrats would worsen an already bleak budget outlook, increasing deficit projections and driving the nation more deeply into debt, the director of the nonpartisan Congressional Budget Office said this morning.
“On the contrary,” Elmendorf said, “the legislation significantly expands the federal responsibility for health-care costs.”
Though President Obama and Democratic leaders have said repeatedly that reining in the skyrocketing growth in spending on government health programs such as Medicaid and Medicare is their top priority, the reform measures put forth so far would not fulfill their pledge to “bend the cost curve” downward, Elmendorf said. Instead, he said, “The curve is being raised.”
As much as I have made it a personal mission to expose the political deception underlying the Democrats’ grand plans for healthcare reform, the true achilles heel of the legislation is the fact that it utterly fails to achieve the President’s stated goal of lowering costs over the long run. This fact has been obvious to anyone who has considered the implication of expanding and subsidizing coverage for the 40+ million people who are uninsured. But this hasn’t stopped most of the media from covering for ObamaCare by going along with the Administration’s propaganda on “lowering costs”. Thankfully, the CBO is a non-partisan institution, and the Director had the courage to speak out and expose this.
I was actually in the midst of researching a new story related to the CBO cost estimate when I saw the article in the WaPo. As frightening as the current budget estimates look as outlined above, I think the CBO has significantly underestimated the potential cost based on an intentionally vague provision inserted by the most liberal proponents of the bill. Stay tuned.