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Thread: CBO ups health care cost projections

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    CBO ups health care cost projections

    Why does this not surprise me...

    Congressional Budget Office estimates released Tuesday predict the health care overhaul will likely cost about $115 billion more in discretionary spending over ten years than the original cost projections.

    The additional spending — if approved over the years by Congress — would bring the total estimated cost of the overhaul to over $1 trillion.

    Republicans pounced on the news, which they called another sign that the Obama administration makes promises it cannot deliver.

    “The American people wanted one thing above all from health care reform: lower costs, which Washington Democrats promised, but they did not deliver,” said House Minority Leader John A Boehner (R-Ohio). “It was clearly irresponsible for Washington Democrats to force this legislation through Congress without being truthful about its full impact on the nation’s finances. Republicans are fighting to repeal this job-killing health care law and replace it with reforms focused first on lowering costs and protecting American jobs.”

    But a Democratic leadership aide on Capitol Hill said the Congress will have to stay within the budget.

    "Just like other authorized programs, the discretionary programs in health reform will need to compete for funds within set budgetary limits,” the aide said. “Republicans fighting to repeal reform can say what they want, but the bottom line is that CBO says reform will reduce the deficit and slow the growth of health care costs - period.”

    The Congressional Budget Office expects the federal agencies to spend $10 billion to $20 billion over 10 years on administrative costs to implement the overhaul. The CBO expects Congress to spend an additional $105 billion over 10 years to fund discretionary programs in the overhaul.
    CBO ups health care cost projections - Jennifer Haberkorn - POLITICO.com

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    Re: CBO ups health care cost projections

    I'll take "Things that should surprise no one but will be ignored by many" for $200, Alex.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: CBO ups health care cost projections

    This is precisely what the Democrats promised us wouldn't happen. I'm shocked.
    There is nothing more dangerous to the liberty of Man than a Government or a Religion seizing upon the strings of an overdeveloped herd instinct amongst the people.

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    Re: CBO ups health care cost projections

    This is really not too surprising. Although the health law sought to expand coverage, it did not address the "excess cost growth" problem inherent in the U.S. health care system. Until that problem is addressed, national health expenditures will likely remain on an unsustainable course. Addressing that problem will likely require a dramatic restructuring of the industry, major changes in industry practices (particularly with respect to technology procurement e.g., early adoption of technology), administrative savings, emphasis on measuring productivity, etc. Such measures are likely to be far more controversial than the recently enacted health legislation.

    Ultimately, budget constraints (governmental and private sector) and an unwillingness of foreigners to continue to finance U.S. health expenditures (via channels of purchases of U.S. debt and the nation's current account deficit) will lead to a gradual disintegration of the current system, which remains largely unchanged even after the newly-enacted health law. Of course, gimmicks such as a single-payer approach won't be viable solutions, as the systemic problem concerns industry structure and practices, not the number of payers.

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    Re: CBO ups health care cost projections

    Also, for those who are interested, the actual CBO letter can be found at:

    "http://www.cbo.gov/ftpdocs/114xx/doc11490/LewisLtr_HR3590.pdf"

    Note: One should copy and paste the above URL into one's address bar to access the document.

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    Re: CBO ups health care cost projections

    It seems to me that EVERY government program ends up costing far more than the government thought it would. It's as reliable as the sun coming up. So why doesn't the CBO just take their estimates and triple them? Then we'll all know the real number.
    Wow. Am I awesome or what?

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    Re: CBO ups health care cost projections



    Enough said. And this is just one program.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: CBO ups health care cost projections

    Quote Originally Posted by phattonez View Post


    Enough said. And this is just one program.
    At it's like that for every program, albeit not to that level. Both parties accept the CBO numbers, but their track record is so bad I don't see why.
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    Re: CBO ups health care cost projections

    It's like what the CBO does with tax numbers. They never take ino account that tax changes will cause a response in the population. For them, it's like the Laffer Curve doesn't even exist.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: CBO ups health care cost projections

    yes, no surprise, we all knew

    also, another bit of common knowledge: big companies are preparing to DUMP coverage plans for their hundreds of thousands of employees

    Four companies mulled dropping health insurance plans - Jennifer Haberkorn - POLITICO.com

    another promise by president putz exposed as phony---if you like your coverage you can keep it

    at&t, for example, figures that its 2.4B of current health care costs can be cut to a bare 600M by dumping all the dans and debbies onto dumbo's doles

    waxman of energy and commerce was conducting hearings to embarrass the megacorps for their greed

    until the docs were delivered demonstrating the dread deliberation

    waxman cancelled his inquisition

    party on, progressives

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