“Try the CBO’s own page to understand what they said rather than Pelosi’s office’s spin.”
I did. And here is what they said.
“By the end of the 10-year period, in 2019, the coverage provisions would add $202 billion to the federal deficit, CBO and JCT estimate. That increase would be partially offset by net cost savings of $50 billion and additional revenues of $86 billion, resulting in a net increase in the deficit of an estimated $65 billion.”
And Pelosi’s spin is accurate. — The estimates also cover important reinvestments in Medicare and Medicaid, including phasing in the closing of the “donut” hole in the Medicare drug benefit. The bill’s long-term reform of Medicare’s physician fee schedule to eliminate the potential 21 percent cut in fees, and put payments on a sustainable basis for the future, will cost about $245 billion. Those costs, however, are not included in the net calculations above, as they will be absorbed under the upcoming statutory “pay go” legislation that is pending in the House.
It’s great news for Obamacare and great news for Americans. But not for the “I hate everything Obama” teabaggers. Their journey in the wilderness just got a lot longer.
