The amount of money ObamaCare steals from Medicare continues to change. The fraud that is Obamacare, uses fuzzy accounting and double counting to hide the real cost from taxpayers. Kathleen Sebelius was busted for this while testifying on the $500 billion theft from Medicare to pay for ObamaCare. They claimed the $500 billion was to be used for both saving Medicare and to fund ObamaCare.
Now we learn, thanks to the CBO, ObamaCare robs more money from Medicare to support ObamaCare.
Obamacare would snatch $716 billion from Medicare to pay for its expensive outlays, an startling increase of nearly $200 billion from the original estimate of the law's impact, according to an analysis by the independent Congressional Budget Office .
The new numbers create a potential political hazard for President Obama, who desperately needs the votes of Medicare beneficiaries in senior-rich swing states like Florida and Pennsylvania.
What's more, the cuts are regressive, affecting all beneficiaries, since they are aimed at health care providers. Serious Medicare reform, which Obama has studiously avoided during his years as president, would be much more targeted toward benefits, particularly those of wealthier seniors.
The CBO study, which comes in a analysis of GOP-backed legislation to repeal Obamacare, finds that repeal would recoup $716 billion in cuts to Medicare that Obamacare would make from 2013-2022.
According to CBO:
Of that amount, higher payments for hospital services account for $260 billion; for skilled nursing services, $39 billion; for hospice services, $17 billion; for home health services, $66 billion; and for all other services, $33 billion.
An analysis of the original March 20, 2010 CBO estimate found that Obamacare would cost Medicare $533 billion dollars during the 2010-2019 ten year period, according to the Kaiser Family Foundation, the independent health policy analysis group relied on by both Democrats and Republicans,.
Since the new estimate covers a later ten year period, the increase in Obamacare's take from Medicare is not due to a mistake in the original estimate, but to a real and growing adverse effect of Obamacare on Medicare's finances over time.
The huge cuts in Medicare, coupled with dramatic increases in taxes, were part of an effort by the law's authors to overcompensate for the costs of Obamacare so they could sell the legislation as a measure that would reduce the deficit.
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