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Thread: Budget Office Lowers Its Estimate on Federal Spending for Health Care

  1. #11
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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Beware all government prognostications that predict good times are just around the corner.

    Also, I wonder how much of those savings are because many states didn't expand medicaid?
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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Quote Originally Posted by Threegoofs View Post
    WASHINGTON — The growth of federal spending on health care will continue to decline as a proportion of the overall economy in the coming decades, in part because of cost controls mandated by President Obama’s health care law, the nonpartisan Congressional Budget Office said on Tuesday.

    The budget office said in its annual 25-year forecast that federal spending on major health care programs would amount to 8 percent of gross domestic product by 2039, one-tenth of a percentage point lower than its previous projection.

    With the latest revision, the budget office has now reduced its 10-year estimate for spending by Medicare, Medicaid and other health programs by $1.23 trillion starting in 2010, the year the health care law took effect. By 2039, the savings would amount to $250 billion a year today, or about 1.5 percent of the economy.

    http://www.nytimes.com/2014/07/16/bu...care.html?_r=0

    This is the biggest news that no one is talking about. I guess scary stories are better for pageviews and eyeballs.

    This is a massive shift. In fact, its exactly what Obama discussed when he talked about 'bending the cost curve' of Medicare. Exactly.

    Heres a nice graph showing the budget impact.



    Thats total federal government spending... a massively lower projection.
    This is good news.
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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Let's see the logic here... A graph that shows only a revision of the path from a little less than 10% of rise in costs to GDP to a ~7.5% of a rise in costs to GDP , which still shows a path toward unsustainable spending (as stated in the OP's own article), potential fiscal collapse and economic destruction... is a good thing.

    Amazing logic.
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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Quote Originally Posted by Beaudreaux View Post
    Let's see the logic here... A graph that shows only a revision of the path from a little less than 10% of rise in costs to GDP to a ~7.5% of a rise in costs to GDP , which still shows a path toward unsustainable spending (as stated in the OP's own article), potential fiscal collapse and economic destruction... is a good thing.

    Amazing logic.
    Apparently, in your world everyone is getting younger and Medicare rolls aren't known to be expanding by basic demographic math.

    I bet you were screaming a few years ago about Obamas draconian Medicare cuts, right?
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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Quote Originally Posted by Threegoofs View Post
    Apparently, in your world everyone is getting younger and Medicare rolls aren't known to be expanding by basic demographic math.

    I bet you were screaming a few years ago about Obamas draconian Medicare cuts, right?
    How does that address what I said?
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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Quote Originally Posted by Beaudreaux View Post
    Let's see the logic here... A graph that shows only a revision of the path from a little less than 10% of rise in costs to GDP to a ~7.5% of a rise in costs to GDP , which still shows a path toward unsustainable spending (as stated in the OP's own article), potential fiscal collapse and economic destruction... is a good thing.

    Amazing logic.
    We have an aging population. We have been expecting medical cost and governments share of medical cost to rise vis-a-vis GDP all along. The good news is that we have made some headway in slowing down the growth in spending. We aren't going to make it go away unless we really do have death panels and death squads rounding up everyone over 75.

    Quote Originally Posted by jmotivator View Post
    Beware all government prognostications that predict good times are just around the corner.

    Also, I wonder how much of those savings are because many states didn't expand medicaid?
    We would likely have greater savings had the states expanded medicaid, which would have opened up preventative medicine to more people today easing the burden of catastrophic care tomorrow.

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    Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Quote Originally Posted by Beaudreaux View Post
    How does that address what I said?
    Maybe with a little background on the issue, you would understand.

    I think upside guys post #16 summarized it nicely.
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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Quote Originally Posted by upsideguy View Post
    We have an aging population. We have been expecting medical cost and governments share of medical cost to rise vis-a-vis GDP all along. The good news is that we have made some headway in slowing down the growth in spending. We aren't going to make it go away unless we really do have death panels and death squads rounding up everyone over 75.
    Hence the need for means testing for Medicare, just as a start. But, I know that that would be against the Progressive plan of full redistribution... oh, wait... Why is it again that the Democrats and Progressives in particular are against means testing?
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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Quote Originally Posted by Threegoofs View Post
    Maybe with a little background on the issue, you would understand.

    I think upside guys post #16 summarized it nicely.
    Maybe to achieve what you assume this means, you would be championing cost cuts and reform of the system? Or are you just happy as a pig in slop that the total collapse of the system is going to be just slightly slower?
    Everything in your life is a reflection of a choice you have made. If you want a different result, don't blame someone else, or expect others to make a change, you should stop complaining and make a different choice. Remember, the circumstances of your birth don't determine the outcome of your life.

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    Re: Budget Office Lowers Its Estimate on Federal Spending for Health Care

    Quote Originally Posted by Beaudreaux View Post
    Maybe to achieve what you assume this means, you would be championing cost cuts and reform of the system? Or are you just happy as a pig in slop that the total collapse of the system is going to be just slightly slower?
    Cost cuts? Reform of the system?

    That was called the ACA.
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