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Thread: Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit

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    Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit

    You can't take money from one place and move it saying it will reduce the deficit. As long as you still spend it, it will increase the deficit.

    FOXNews.com - Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit


    Savings from Medicare touted by Democrats as a means to pay for the Senate health care bill were double-counted and the legislation will increase the deficit, not decrease it, a senior Republican senator said Wednesday, citing a new letter from the Congressional Budget Office.

    As the Senate prepares for a crucial vote before final passage of a massive overhaul bill that Democrats argue will reduce the deficit by $132 billion over 10 years, Sen. Jeff Sesssions, R-Ala, said the nearly $500 billion in cuts to Medicare actually will add $300 billion to the deficit

    "The real score on this legislation is that it would cause the deficit to increase, and not be a surplus as the president has promised," Sessions told Fox News. "And a lot members of our Congress have said I won't vote for this bill unless it's deficit neutral. It's not deficit neutral. It will add to the debt. That's clear today."

    Sessions reached his calculations after speaking to CBO Director Doug Elmendorf.

    In his letter to Sessions, Elmendorf wrote that government counts money two ways, either through trust fund accounting, in which money is borrowed from future Medicare payments to pay for existing Medicare programs but is like a revolving line of credit, or unified budget accounting, in which the trust fund money is borrowed from Medicare but then spent on other health care programs that don't generate money to be be paid back into Medicare later.

    "The key point is that the savings to the (Hospital Insurance) trust fund under the (Patient Protection and Affordable Care Act) would be received by the government only once, so they cannot be set aside to pay for future Medicare spending and, at the same time, pay for current spending on other parts of the legislation or on other programs," Elmendorf wrote.

    "To describe the full amount of HI trust fund savings as both improving the government's ability to pay future Medicare benefits and financing new spending outside of Medicare would essentially double-count a large share of those savings and thus overstate the improvement in the government's fiscal position," he wrote.

    Sessions said the cuts to Medicare can extend the government program or create money for a new entitlement program -- but not both.

    "Either you've weakened the Medicare substantially or you're going to have no money to spend on the new program that's being created," he said. "You cannot spend this money twice."

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    Re: Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit

    The truth no longer matters in the Politics of Washington D.C. especially when the intent of something like this phony Health Bill has nothing what ever to do with anything the Leftists claim it's about. They have failed to address the true issues at any level and have used the corrupt practice of political payoffs, bribes, threats and intimidation to force it through.

    They are so corrupt that they know the people don't want it and are now trying to make it impossible to correct this disaster after they are removed from office.

    We are facing devastation in health care and the economy.

    Idiots like Roger Hedgecock are claiming the insurance Companies are going to get even richer. What he doesn't seem to be paying any attention to is that Obama Been Lying has said it is his goal to put the insurance companies out of business with a single payer plan and he knows that can't be done in the first go around and said so himself.
    YouTube - Obama on single payer health insurance

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    Re: Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit

    Quote Originally Posted by ptif219 View Post
    You can't take money from one place and move it saying it will reduce the deficit. As long as you still spend it, it will increase the deficit.

    FOXNews.com - Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit


    Savings from Medicare touted by Democrats as a means to pay for the Senate health care bill were double-counted and the legislation will increase the deficit, not decrease it, a senior Republican senator said Wednesday, citing a new letter from the Congressional Budget Office.

    As the Senate prepares for a crucial vote before final passage of a massive overhaul bill that Democrats argue will reduce the deficit by $132 billion over 10 years, Sen. Jeff Sesssions, R-Ala, said the nearly $500 billion in cuts to Medicare actually will add $300 billion to the deficit

    "The real score on this legislation is that it would cause the deficit to increase, and not be a surplus as the president has promised," Sessions told Fox News. "And a lot members of our Congress have said I won't vote for this bill unless it's deficit neutral. It's not deficit neutral. It will add to the debt. That's clear today."

    Sessions reached his calculations after speaking to CBO Director Doug Elmendorf.

    In his letter to Sessions, Elmendorf wrote that government counts money two ways, either through trust fund accounting, in which money is borrowed from future Medicare payments to pay for existing Medicare programs but is like a revolving line of credit, or unified budget accounting, in which the trust fund money is borrowed from Medicare but then spent on other health care programs that don't generate money to be be paid back into Medicare later.

    "The key point is that the savings to the (Hospital Insurance) trust fund under the (Patient Protection and Affordable Care Act) would be received by the government only once, so they cannot be set aside to pay for future Medicare spending and, at the same time, pay for current spending on other parts of the legislation or on other programs," Elmendorf wrote.

    "To describe the full amount of HI trust fund savings as both improving the government's ability to pay future Medicare benefits and financing new spending outside of Medicare would essentially double-count a large share of those savings and thus overstate the improvement in the government's fiscal position," he wrote.

    Sessions said the cuts to Medicare can extend the government program or create money for a new entitlement program -- but not both.

    "Either you've weakened the Medicare substantially or you're going to have no money to spend on the new program that's being created," he said. "You cannot spend this money twice."
    In fact basically a 'Shell game'.
    And yet so pitiably few people see it.
    I am not against Health care reform, I am against this being represented as Health Care reform that will at same time reduce the Deficit.

    Amazing that so many ostensibly educated Politicians are unable to understand the jargon they themselves trot out.

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    Re: Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit

    It has come to the point when we really should as intelligent, honest people throw out the Republicans and the Democrats. They show little interest in doing what is right for those they are supposed to represented.
    "Political bias optional, civility a must" - DebatePolitics.com

    The Truth

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    Re: Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit

    Quote Originally Posted by The Truth View Post
    It has come to the point when we really should as intelligent, honest people throw out the Republicans and the Democrats. They show little interest in doing what is right for those they are supposed to represented.
    They are merely a symptom of populist democracy, until you end that there is no hope of anything actually changing.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: Senator Cites New Budget Letter to Argue Health Care Bill Will Hike Deficit

    Quote Originally Posted by Harry Guerrilla View Post
    They are merely a symptom of populist democracy, until you end that there is no hope of anything actually changing.
    I know it would never happen, but I always thought that there should be some simple questions on every ballot and if you got the answers wrong the ballot would go into a shredder never to be counted. Unfortunately, there may be too much room for corruption.

    Multiple choice questions like:

    Who is the current V.P.?

    It's just a thought, but yes we seem to have an ignorant populace when it comes to the government and political issues. We certainly don't seem to be finding real leaders for congress. We just keep seating political hacks who thrive on power and money.
    "Political bias optional, civility a must" - DebatePolitics.com

    The Truth

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