Mar 18, 2010

The CBO says health care bill will cut the budget deficit and cover the uninsured

The nonpartisan Congressional Budget Office (CBO) released its preliminary analysis on the compromise health insurance reform bill today, and it shows simply that Republicans and teabaggers have been lying for an entire year.

Here’s what the CBO says the bill does:
It cuts the deficit: It cuts the deficit by $130 billion in the first 10 years (2010 - 2019), and it cuts the deficit by $1.2 trillion in the second 10 years.

It reduces annual growth in Medicare expenditures by 1.4 percentage points per year-while improving benefits and lowering costs for seniors. It also extends Medicare's solvency by at least nine years. It expands health insurance coverage to 32 million Americans Helps guarantee that 95 percent of Americans will be covered. It is fully paid for - costs $940 billion over a decade. (Americans spend nearly $2.5 trillion each year on health care now and nearly two-thirds of the bill's cost is paid for by reducing health care costs).

More importantly, here’s what it will do for the residents of the 8th Congressional District. Despite those benefits, you can rest assure of two things: the lies from Republicans will continue, and U.S. Rep. Mike Rogers will vote against it.

+ Improve coverage for 505,000 residents with health insurance.
+ Give tax credits and other assistance to up to 150,000 families and 15,100 small businesses to help them afford coverage.
+ Improve Medicare for 90,000 beneficiaries, including closing the donut hole.
+ Extend coverage to 20,000 uninsured residents.
+ Guarantee that 8,100 residents with pre-existing conditions can obtain coverage.
+ Protect 1,700 families from bankruptcy due to unaffordable health care costs.
+ Allow 63,000 young adults to obtain coverage on their parents' insurance plans.
+ Provide millions of dollars in new funding for 10 community health centers.
+ Reduce the cost of uncompensated care for hospitals and other health care providers by $29 million annually.


liberalshateusa said...

Not True
Medicare fix would push health care into the red.

WASHINGTON (AP) -- Congressional budget scorekeepers say a Medicare fix that Democrats included in earlier versions of their health care bill would push it into the red.

The Congressional Budget Office said Friday that rolling back a programmed cut in Medicare fees to doctors would cost $208 billion over 10 years. If added back to the health care overhaul bill, it would wipe out all the deficit reduction, leaving the legislation $59 billion in the red.

The so-called doc fix was part of the original House bill. Because of its high cost, Democrats decided to pursue it separately. Republicans say the cost should not be ignored. Congress has usually waived the cuts to doctors year by year.

liberalshateusa said...

I never heard Obama say once in his many campaign style speeches that this bill would provide better Health care to it's citizens.

You know they will not cut 500 billion from medicare.

Why do the taxes start immediately and the health care 4 years later?
To keep to CBO numbers under 1 trillion.

All smoke and mirrors. This bill stinks.

You still have a tea bag on your chin.

liberalshateusa said...

Caterpillar: Health care bill would cost it $100M

Dow Jones Newswires | Caterpillar Inc. said the health-care overhaul legislation being considered by the U.S. House of Representatives would increase the company's health-care costs by more than $100 million in the first year alone.

In a letter Thursday to House Speaker Nancy Pelosi (D-Calif.) and House Republican Leader John Boehner of Ohio, Caterpillar urged lawmakers to vote against the plan "because of the substantial cost burdens it would place on our shareholders, employees and retirees."

Caterpillar, the world's largest construction machinery manufacturer by sales, said it's particularly opposed to provisions in the bill that would expand Medicare taxes and mandate insurance coverage. The legislation would require nearly all companies to provide health insurance for their employees or face large fines.

The Peoria-based company said these provisions would increase its insurance costs by at least 20 percent, or more than $100 million, just in the first year of the health-care overhaul program.

"We can ill-afford cost increases that place us at a disadvantage versus our global competitors," said the letter signed by Gregory Folley, vice president and chief human resources officer of Caterpillar. "We are disappointed that efforts at reform have not addressed the cost concerns we've raised throughout the year."

Business executives have long complained that the options offered for covering 32 million uninsured Americans would result in higher insurance costs for those employers that already provide coverage. Opponents have stepped up their attacks in recent days as the House moves closer toward a vote on the Senate version of the health-care legislation.

A letter Thursday to President Barack Obama and members of Congress signed by more than 130 economists predicted the legislation would discourage companies from hiring more workers and would cause reduced hours and wages for those already employed.

Caterpillar noted that the company supports efforts to increase the quality and the value of health care for patients as well as lower costs for employer-sponsored insurance coverage.

"Unfortunately, neither the current legislation in the House and Senate, nor the president's proposal, meets these goals," the letter said.

Communications guru said...

Sorry, hate the USA, but the CBO says “An estimate of the budgetary effects of the reconciliation proposal, in combination with the effects of H.R. 3590, the Patient Protection and Affordable Care Act (PPACA), as passed by the Senate. The combination of those two pieces of legislation would reduce federal deficits by an estimated $138 billion over the 2010-2019 period.”

Here’s the link:

The bottom line is it will give 32 million Americans who had no access to health care actual health care and better health care to the millions more with “pre-existing conditions” better health care.

“You still have a tea bag on your chin?” What the hell does that mean, hate the USA? You’re the teabagger, not me.

I can’t wait until Sunday. A year of outrageous lies and scare tactics financed by the $1.4 million a day spent by the insurance company lobby will be wasted. They should have spent that money on actual health care instead of spending it on lies.