By Pete the Banker
Remember the President’s selling point on the Health Care Bill (Mar 18, 2010), “Passage of health-insurance reform … Overall , the bill will cut the deficit by $138 billion in the first decade… “
Remember the President’s selling point on the Health Care Bill (Mar 18, 2010), “Passage of health-insurance reform … Overall , the bill will cut the deficit by $138 billion in the first decade… “
But we were assured we could rest easily for the CBO issued the following analysis, “…to help offset the cost of the measure, Democrats plan a 3.8 percent Medicare tax on unearned income, a leadership aide said. Overall, the bill will cut the deficit by $138 billion in the first decade and reduce the shortfall further in the next 10 years, the nonpartisan budget office said.“
And as of Friday we find out from the CBO that suddenly we have a decade of massive deficits to anticipate. Is the CBO’s timing of the new estimate calculated or is it simply coincidental? The CBO disclosed that the $247B projected surplus was really going to be a $7.4B deficit over the next decade, with the most significant political event intervening just coincidentally — the Congressional passage and President’s signature of the Health Care Bill. “CNBC, working with the Congressional Budget Office, found that the 10-year outlook for the nation’s deficit has deteriorated by almost $8 trillion. In effect, every man, woman and child in the United States has taken on an extra $25,000 in debt, CNBC has learned. Comparing the CBO’s outlook in 2008 to the current forecast, CNBC found that what was once a projected $247 billion surplus for the years 2009 through 2018, is non an estimated $7.4 trillion deficit”.
Oops, only a small miscalculation?! So now we find out that the argument to give the so call blue dog “fiscally responsible” Democrats political cover for their Yes vote on the Health Care Bill was really all based on a lie. What a difference a week and a Presidential signature make!!
Tell ’em where you saw it. Http://www.victoriataft.com
