Learning from History? The Big Lie … CBO Says that Obamacare is Deficit Neutral, Just Look at Medicare’s Projections

 

If we do not learn from the past, we are only destined to repeat it.

Folks, if you believe that Obamacare will be deficit neutral and save money from our federal deficits, I have some swamp land and a bridge to sell you. According to the latest CBO, they state that it is deficit neutral, but with some real accounting issues.

The CBO report was key because President Obama and the Democrats had promised to have a deficit neutral bill.  Had the CBO report said the plan would increase the deficit it almost certainly would have meant the end of reform.  Instead the report shows the bill generating more revenue than it spends through a number of means including reduction in fraud and waste.

CBO report can be seen HERE.

If any private accounting firm ever used such tactics as are included in the CBO’s analysis, they would be jailed. As reported at the WAPO, Democrats got the score they needed. Of course they did, the fudged the numbers. You can manipulate any number to look the way you want by subtracting reality.  Forget all of the nuances, the deals, the lies and the spin. Think of this in basic form and consider if you had done something similar in your own life.

Obamacare if passed today and signed into law by President Barack Hussein Obama does not take effect until 2014. However, the taxes and other means of raising money for this health care reform boondoggle take effect immediately.

How many of you would pay for a car for four years and not have the use of it? How many of you would make payments on your cell phone of blackberry and not have the use of it until four years later? Who out there pays four years of a mortgage and lives in another home?

What’s the difference?

How could anything be considered deficit neutral if you take in monies for 10 years and only pay out for a 6 year time period? Come on folks, try having your account do that one with your IRS tax returns and see what happens.

Also, such things like the doctor fix are not even included in the CBO. Tell me what Congress in the future is going to tell seniors that they are cutting medicare? What happens when they don’t? The cost of Obamacare is not deficit neutral. Not by a long shot. This bill has more accounting schemes in it like Arthur Anderson, World Com, Enron, Global Crossing and Bernie Madoff all rolled up into one.

As this so-called historic health care vote nears a victory for Obama, it is America that loses for not learning from history.

Let’s compare Obamacare’s promises to Medicare. If we do not learn from the past, we are only destined to repeat it. An estimate is just that, an estimate. When there are things purposely left out the fudge the numbers, the estimate is even worse. Check out the estimates of Medicare. Ever wonder why Medicare is going bankrupt? Because the estimates were wrong. So Obamacare could never be the same, right?

Medicare (hospital insurance). In 1965, as Congress considered legislation to establish a national Medicare program, the House Ways and Means Committee estimated that the hospital insurance portion of the program, Part A, would cost about $9 billion annually by 1990.v Actual Part A spending in 1990 was $67 billion. The actuary who provided the original cost estimates acknowledged in 1994 that, even after conservatively discounting for the unexpectedly high inflation rates of the early ‘70s and other factors, “the actual [Part A] experience was 165% higher than the estimate.”

Medicare (entire program). In 1967, the House Ways and Means Committee predicted that the new Medicare program, launched the previous year, would cost about $12 billion in 1990. Actual Medicare spending in 1990 was $110 billion— off by nearly a factor of 10.

Medicaid DSH program. In 1987, Congress estimated that Medicaid’s disproportionate share hospital (DSH) payments—which states use to provide relief to hospitals that serve especially large numbers of Medicaid and uninsured patients—would cost less than $1 billion in 1992. The actual cost that year was a staggering $17 billion. Among other things, federal lawmakers had failed to detect loopholes in the legislation that enabled states to draw significantly more money from the federal treasury than they would otherwise have been entitled to claim under the program’s traditional 50-50 funding scheme.

Medicare home care benefit. When Congress debated changes to Medicare’s home care benefit in 1988, the projected 1993 cost of the benefit was $4 billion. The actual 1993 cost was more than twice that amount, $10 billion.

Imagine if we project the same miscalculations to Obamacare.

However, the ultimate danger of Obamacare is once America sees how much damage that this has done to our budget and country, it will be too late to fix. This is why Barack Obama and the Democrats defied the will of the people and were willing to act like suicide bombers. This was their intention all along.

Obama’s intention all along was … single payer universal health care.

Obama has always been a proponent of single payer health care

Obama admits his health care plan will eliminate private health care over time

One thing is for certain. A historic vote today will mean a historic and epic loss in the 2010 midterms. If Democrats want to be in denial, that is fine. Rest assured they will not know what hit them after the votes are counted.  By Obama, Pelosi and Reid ramming this vote down American’s throats against the will of the people, even more races just came into play.



If you liked this post, you may also like these:

  • Why Americans do not Trust Barack Obama and Obamacare … The Math and Rhetoric Does not Pass the Deficit Neutral Test
  • Before the Speech: Obamascare for Health Care Reform … People Will Die!!!
  • Obama Government Posts Largest Monthly Federal Deficit in US History … $223 Billion in February 2011
  • Caylee/Casey Anthony Trial: Perry Plan In Effect Prosecution Takes A Hit-”Not Race Neutral” Defense Strikes Dwindle
  • Record Deficits for Fiscal Year 2009: $1.42 Trillion … More than Triple the Record Set Last Year … BTW, Where are the Jobs?




  • Comments

    8 Responses to “Learning from History? The Big Lie … CBO Says that Obamacare is Deficit Neutral, Just Look at Medicare’s Projections”

    1. caesu on March 21st, 2010 6:10 pm

      YES WE CAN
      single payer health care

    2. nancyK9 on March 21st, 2010 8:03 pm

      YES WE DID long time no see, friend

    3. Buster on March 22nd, 2010 12:28 am

      It’ll be Bush’s fault

    4. Michelle Smith on March 22nd, 2010 9:41 am

      Fools

    5. Scott on March 23rd, 2010 7:36 am

      #1 and #2 – you two idiots don’t even know what’s in the bill; yet you dance like little kids. You have no idea how this will affect your pocket in the long run. You have no idea that these benefits don’t kick in until 2014 and that you will be paying taxes immediately to pay for this atrocity. You have no idea how this will affect your children’s pockets in the future. I work in the govn’t and I know for a fact 940B means 1.8 TRILLON! You have no idea how government works.

      I pray and hope for your sake your parents can get the medical care they want to live a longer life instead of their services being rationed to pay for a puke illegal like caesu or yoyo.

      Talk about blind sheep! WoW!

    6. super dave on March 23rd, 2010 10:32 am

      to look at obama or even a democrat , you see evil, liars, cheaters , thugs, murderers of babies. this means you yoyo and greasu. baby killers.

    7. Just in case you needed a good scare: « libertariat on January 26th, 2012 9:20 pm

      [...] CBO. Congress has designed the CBO to make everything look good. In fact, the CBO is so optimistic it’s scary.  Here’s a very well done paper and a response to that paper summing up the findings of [...]

    8. Why the CBO should not be trusted « libertariat on January 26th, 2012 9:24 pm

      [...] CBO. Congress has designed the CBO to make everything look good. In fact, the CBO is so optimistic it’s scary.  Here’s a very well done paper published by the Federal Reserve Bank of St. [...]

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