Monday, August 17, 2009

CBO Undershot Cost of Health Care Plan by $1 Trillion+?

Beyond the fear of a Government takeover of your medial care, the next biggest concern is the amount of money the plan would cost. The Obama administration said it would be deficit neutral. The Congressional Budget Office (CBO) put the figure at more than a trillion dollars over the next decade. The CBO may actually have undershot the true cost by more than a trillion dollars. It is extremely difficult to calculate the true costs considering that the bills are in flux, but there is a huge difference between deficit neutral and potentially piling on another almost $2.5 trillion to our already record smashing unsustainable debt.

"Many policymakers began searching for a way to get costs below the CBO’s frightening estimate of $1.1 trillion over ten years. Others attacked the CBO, calling its estimates irresponsible.

The CBO is actually being kind to the would-be reformers. Its analysis likely understates—by at least $1 trillion—the true costs of expanding health coverage as current Democratic legislation contemplates. ... We believe that the Democratic bills currently under consideration in the House and Senate would cost $2.1 trillion and $2.4 trillion, respectively—much higher than CBO’s figures.

No comments:

Post a Comment

Related Posts with Thumbnails

Like what you read; Subscribe/Fan/Follow