CNN: CBO finds Dem bill with public option reduces deficit

Discussion in 'Politics' started by Dr.Traveler, Oct 21, 2009.

  1. Dr.Traveler
    Offline

    Dr.Traveler Mathematician

    Joined:
    Aug 31, 2009
    Messages:
    3,952
    Thanks Received:
    652
    Trophy Points:
    190
    Location:
    In a Non-Euclidean Manifold
    Ratings:
    +1,054
    CBO finds Dem bill with public option reduces deficit

    WASHINGTON (CNN) -- A preliminary estimate from the Congressional Budget Office projects that the House Democrats' health care plan that includes a public option would cost $871 billion over 10 years, according to two Democratic sources.

    CBO also found that the Democrats' bill reduces the deficit in the first 10 years.

    This new CBO estimate, which aides caution is not final, is significantly less than the $1.1 trillion price tag of the original House bill that passed out of three committees this summer. More importantly, it comes under the $900 billion cap set by President Obama in his joint address to Congress last month.

    CBO analyzed what House Speaker Nancy Pelosi calls a "more robust" public option -- one that ties reimbursement rates for doctors to current Medicare rates, plus a 5 percent increase.

    At a meeting with House Democrats on Tuesday night, Pelosi did not release CBO's preliminary numbers, but told members that CBO told leaders the House bill would cost well below $900 billion. Aides say final CBO numbers could be released on Wednesday.

    -------------------------------------

    (more at link above)
     
    • Thank You! Thank You! x 1
  2. rayboyusmc
    Offline

    rayboyusmc Senior Member

    Joined:
    Jan 2, 2008
    Messages:
    4,015
    Thanks Received:
    338
    Trophy Points:
    48
    Location:
    Florida
    Ratings:
    +338
    This can't be. That's not what Boehner and the rest of Insurance Whores are sayng.:lol:
     
  3. Hellokitty
    Offline

    Hellokitty Member

    Joined:
    Oct 12, 2009
    Messages:
    124
    Thanks Received:
    21
    Trophy Points:
    16
    Ratings:
    +21
    The bill collects taxes for 10 years but only is covering a small portion of the uninsured for 4 years.
     
  4. Dr.Traveler
    Offline

    Dr.Traveler Mathematician

    Joined:
    Aug 31, 2009
    Messages:
    3,952
    Thanks Received:
    652
    Trophy Points:
    190
    Location:
    In a Non-Euclidean Manifold
    Ratings:
    +1,054
    I'll be looking forward to the full report. I'm kinda curious at the mathematics behind how taking on a new entitlement actually reduces the deficit. That should be interesting.

    I'm also curious the response this report will get. Both parties are guilty of trumpeting reports by the non-partisan CBO when it fits their agenda. The Republicans have to be fuming at this one.
     
  5. saveliberty
    Offline

    saveliberty Diamond Member

    Joined:
    Oct 12, 2009
    Messages:
    42,075
    Thanks Received:
    6,122
    Trophy Points:
    1,830
    Ratings:
    +20,006
    You only have to look back about 17 months and see the CBO estimated Fannie Mae and Freddie Mac needed $25b. to fix the mortgage problem. Four months later they REVISED the figure to $300b. A 1200% error. It doesn't take much to see the health care reform could easily be off $100b. or more.

    If the CBO is off 10% and the insurance industry is even 10% right the program fails to meet Obama's test and is not a deficit neutral plan, but a deficit builder.
     
    • Thank You! Thank You! x 1
  6. Dr.Traveler
    Offline

    Dr.Traveler Mathematician

    Joined:
    Aug 31, 2009
    Messages:
    3,952
    Thanks Received:
    652
    Trophy Points:
    190
    Location:
    In a Non-Euclidean Manifold
    Ratings:
    +1,054
    I imagine there will be a revision on this figure. Last I checked we're still at 5 competing bills that have to be pared down to one. As the bill changes, the numbers will too.
     
  7. Ravi
    Offline

    Ravi Diamond Member

    Joined:
    Feb 27, 2008
    Messages:
    81,365
    Thanks Received:
    12,696
    Trophy Points:
    2,205
    Location:
    Hating Hatters
    Ratings:
    +29,806
    Given that we already pay for 46% of health care coverage through tax dollars, it is likely that requiring everyone to have insurance (thereby enlarging the pool and lowering costs) and offering a public option will reduce the deficit.
     
  8. saveliberty
    Offline

    saveliberty Diamond Member

    Joined:
    Oct 12, 2009
    Messages:
    42,075
    Thanks Received:
    6,122
    Trophy Points:
    1,830
    Ratings:
    +20,006
    Problems with your statement:

    1. We don't require everyone to have insurance. We fine a great number of them if they
    don't take coverage, but there is still 6%, by CBO figures, who will remain uninsured.
    2. The pool does get larger, but you are adding pre-existing conditions from a large
    number of these people. They will increase costs, not decrease.
    3. You are adding a new system with the public option. It requires medical professionals
    to fill out more forms for reimbursement and to follow their procedures and
    regulations. This increases costs too.
    4. We pay for health insurance with tax dollars.
     
  9. Mr. Capitalism
    Offline

    Mr. Capitalism Active Member

    Joined:
    Aug 10, 2009
    Messages:
    336
    Thanks Received:
    57
    Trophy Points:
    28
    Ratings:
    +57
    "The Communist Bullshit Organization?" - Love, Crusader Frank
     
  10. Dr.Traveler
    Offline

    Dr.Traveler Mathematician

    Joined:
    Aug 31, 2009
    Messages:
    3,952
    Thanks Received:
    652
    Trophy Points:
    190
    Location:
    In a Non-Euclidean Manifold
    Ratings:
    +1,054
    Frank will come by and make his own sarcastic quips. No need to jump the gun.
     

Share This Page