CBO is Beginning to Sound More and More Like the Medicare Actuary
In its annual long-term budgetary outlook, the Congressional Budget Office [says it is] “using the same growth rates that would have been applied in the absence of the [ObamaCare] legislation”…
[Also,] CBO notes that “increases in payment rates for many providers will be held below the rate of increase in the average cost of providers’ inputs” and “it is unclear whether the [Medicare provisions] can be sustained, and, if so, whether it will be accomplished through greater efficiencies in the delivery of care or will instead reduce access to care or diminish the quality of care.”
Source: Chris Jacobs of the RPC
Surprise. Surprise. Health reform is not going to save the government any money!
Back in December 2008, the CBO shot full of holes, then President-elect Obama’s proposed cost-saving measures in his health reform proposal. The President and his advisors originally planned to pay for universal coverage with prevention, chronic disease management and health information technology.
Although not bad ideas, economists (and Obama advisors) like Gruber and Cutler (arguably) knew these ideas would not save significant sums of money. But they sounded good to voters who didn’t know any better.
Bruce, no one is surprised.
Tom, I’m sure you are right. Especially no one on Capitol Hill.