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Thread: An 'Obamacare' Cost Explosion?

  1. #1
    Havakasha is offline

    An 'Obamacare' Cost Explosion?

    Typical distortions.


    http://tpmdc.talkingpointsmemo.com/2...ref=fpnewsfeed
    An ‘Obamacare’ Cost Explosion? Hardly — GOP Distorts CBO Report

    SAHIL KAPUR MARCH 15, 2012, 2:09 PM 3804 31
    Republicans and conservative media are cherry-picking a figure in a new Congressional Budget Office spending estimate (PDF) to assert that the cost of “Obamacare” has nearly doubled to $1.76 trillion. But the claim ignores the corresponding savings during the additional period of the spending projection, thus distorting the actual cost estimates of the law.

    “The new CBO projection estimates that the law will cost $1.76 trillion over 10 years — well above the $940 billion Democrats originally claimed,” Rep. Tom Price (R-GA), the No. 4 House Republican, declared in a press advisory. The powerful Energy & Commerce Committee said the CBO report “reveal[s] a shocking new sticker price of $1.8 trillion.”

    Fox News and other conservative outlets have trumpeted the out-of-context number as vindication for those who warned it’ll cost far more than advertised.

    CBO’s actual revised estimate is that the “gross costs of the coverage provisions,” — the money used to provide people Medicaid or private insurance — has risen by about $50 billion over the 2012-2021 period since its previous estimate, from $1.445 trillion to $1.496 trillion. That’s the only relevant change to spending projections in the report.

    So where are conservatives getting the idea that the cost of the law doubled? When it passed in 2010, CBO said its 10-year outlays would be about $940 billion. But because the law isn’t set to be fully implemented until 2014, when the coverage expansion takes effect, that initial estimate included several years in which the law cost very little. Now that it’s 2012, CBO’s 10-year outlook captures more years during which the law will be in full effect. The law’s price tag appears higher, but its costs in no way doubled.

    Conservatives, however, want to use the effect of this sliding window to make it appear as if the health care law is a budget buster. But this latest CBO report focuses exclusively on the law’s spending provisions, and ignores its savings — the taxes and spending cuts, that also mostly take effect in 2014.

    Indeed, CBO still holds that the law reduces the deficit by billions of dollars over 10 years. That’s just not in this report.

    “CBO and JCT have not estimated the budgetary effects in 2022 of the other provisions of the ACA; over the 2012-2021 period, those other provisions were previously estimated to reduce budget deficits,” the CBO report reads.

    All of which means that the cost projections have only experienced minor changes in the CBO report, a far cry from the conservative claims that the Affordable Care Act’s price tag has skyrocketed or doubled.
    Last edited by Havakasha; 03-15-2012 at 06:26 PM.

  2. #2
    Havakasha is offline
    http://www.tnr.com/blog/jonathan-coh...uble-price-fox


    No, Obamacare's Cost Didn't Just Double. Sigh.
    Jonathan CohnMarch 15, 2012 | 9:40 am 12 comments

    Sorting through the deceptive attacks on health care reform gets old, even for me. But on Wednesday the Republicans and their allies made a claim so obviously misleading that they, and the media outlets parroting them, must have known they spreading false information.

    The basis for the claim is the Congressional Budget Office’s latest projections for the Affordable Care Act, which critics (and I!) like to call Obamacare. When Congress first passed the law, in the spring of 2010, CBO made official estimates of how much the law would cost, how many people would get insurance as a result, and so on. It updated that estimate one year later and has, now, updated it one more time.

    The CBO distributed its report in the morning and, by 11 a.m., Republican offices on Capitol Hill were spitting out press releases about it. According to the Republicans, CBO had discovered that Obamacare was going to cost $1.76 trillion over the next ten years. “The CBO’s revised cost estimate indicates that this massive government intrusion into America’s health care system will be far more costly than was originally claimed,” Tom Price, chairman of the House Republican Policy Committee, said. Within a few hours, both Fox News and the Washington Times were carrying online stories making the same claim. According to the Fox News account, CBO was “showing that the bill is substantially more expensive – twice as much as the original $900 billion price tag.”

    If CBO had truly determined that health care reform’s cost will be twice the original estimates, it would be huge news. But CBO said nothing of the sort.

  3. #3
    SiriuslyLong is offline
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    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Quote Originally Posted by Havakasha View Post
    http://www.tnr.com/blog/jonathan-coh...uble-price-fox


    No, Obamacare's Cost Didn't Just Double. Sigh.
    Jonathan CohnMarch 15, 2012 | 9:40 am 12 comments

    Sorting through the deceptive attacks on health care reform gets old, even for me. But on Wednesday the Republicans and their allies made a claim so obviously misleading that they, and the media outlets parroting them, must have known they spreading false information.

    The basis for the claim is the Congressional Budget Office’s latest projections for the Affordable Care Act, which critics (and I!) like to call Obamacare. When Congress first passed the law, in the spring of 2010, CBO made official estimates of how much the law would cost, how many people would get insurance as a result, and so on. It updated that estimate one year later and has, now, updated it one more time.

    The CBO distributed its report in the morning and, by 11 a.m., Republican offices on Capitol Hill were spitting out press releases about it. According to the Republicans, CBO had discovered that Obamacare was going to cost $1.76 trillion over the next ten years. “The CBO’s revised cost estimate indicates that this massive government intrusion into America’s health care system will be far more costly than was originally claimed,” Tom Price, chairman of the House Republican Policy Committee, said. Within a few hours, both Fox News and the Washington Times were carrying online stories making the same claim. According to the Fox News account, CBO was “showing that the bill is substantially more expensive – twice as much as the original $900 billion price tag.”

    If CBO had truly determined that health care reform’s cost will be twice the original estimates, it would be huge news. But CBO said nothing of the sort.
    Funny how CBO estimates are Gospell to the liberals when they agree with liberal doctrine, but not when they don't.

    YOU ARE PATHETIC. The cost estimates have doubled for the next ten years. Was anyone sold this?
    Last edited by SiriuslyLong; 03-15-2012 at 09:41 PM.

  4. #4
    Havakasha is offline
    Some people just dont know how to read. Unbelieveable.
    It has nothing to do with "liberals" disagreeiing with CBO,
    it has everthing to do with your Republican distortions.


    "If CBO had truly determined that health care reform’s cost will be twice the original estimates, it would be huge news. But CBO said nothing of the sort."
    Last edited by Havakasha; 03-16-2012 at 12:20 AM.

  5. #5
    Havakasha is offline
    CBO’s actual revised estimate is that the “gross costs of the coverage provisions,” — the money used to provide people Medicaid or private insurance — has risen by about $50 billion over the 2012-2021 period since its previous estimate, from $1.445 trillion to $1.496 trillion. That’s the only relevant change to spending projections in the report.

    So where are conservatives getting the idea that the cost of the law doubled? When it passed in 2010, CBO said its 10-year outlays would be about $940 billion. But because the law isn’t set to be fully implemented until 2014, when the coverage expansion takes effect, that initial estimate included several years in which the law cost very little. Now that it’s 2012, CBO’s 10-year outlook captures more years during which the law will be in full effect. The law’s price tag appears higher, but its costs in no way doubled.

    Conservatives, however, want to use the effect of this sliding window to make it appear as if the health care law is a budget buster. But this latest CBO report focuses exclusively on the law’s spending provisions, and ignores its savings — the taxes and spending cuts, that also mostly take effect in 2014.

    Indeed, CBO still holds that the law reduces the deficit by billions of dollars over 10 years. That’s just not in this report.

    “CBO and JCT have not estimated the budgetary effects in 2022 of the other provisions of the ACA; over the 2012-2021 period, those other provisions were previously estimated to reduce budget deficits,” the CBO report reads.

    All of which means that the cost projections have only experienced minor changes in the CBO report, a far cry from the conservative claims that the Affordable Care Act’s price tag has skyrocketed or doubled.

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