Fantasies
CBO NOW SAYS Repealing Obamacare Will Save US $540 Billion
Anybody who could possibly believe that a massive new medical care entitlement would save money needs put down the crack pipe and try to re-enter the real world. CBO says repealing ObamaCare would reduce spending by $540 billion over ten years. Good. But I don't for one moment believe that number, either. The true amount saved by killing this monstrosity would be far more than that.
Just consider the actual cost of Medicare vs. the projected costs -- House Ways and Means predicted in 1967 that Medicare (introduced the previous year) would cost about $12 billion by 1990. In fact, by 1990, the Medicare tab was... $110 billion! The CBO estimates 2010 Medicare spending at $528 billion, $735 billion in 2015, $1,038 billion in 2020. Those will be underestimates, too, even without ObamaCare.
Byron
Anybody who could possibly believe that a massive new medical care entitlement would save money needs put down the crack pipe and try to re-enter the real world. CBO says repealing ObamaCare would reduce spending by $540 billion over ten years. Good. But I don't for one moment believe that number, either. The true amount saved by killing this monstrosity would be far more than that.
Just consider the actual cost of Medicare vs. the projected costs -- House Ways and Means predicted in 1967 that Medicare (introduced the previous year) would cost about $12 billion by 1990. In fact, by 1990, the Medicare tab was... $110 billion! The CBO estimates 2010 Medicare spending at $528 billion, $735 billion in 2015, $1,038 billion in 2020. Those will be underestimates, too, even without ObamaCare.
Byron
posted by Byron | Friday, January 07, 2011
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