Republicans extend tax cuts for super rich; decimate teachers

iVillage Member
Registered: 09-26-2010
Republicans extend tax cuts for super rich; decimate teachers
9
Thu, 02-17-2011 - 12:22pm
iVillage Member
Registered: 02-05-2011

I was trying to follow all the links. One seems to be about Wisconsin and unions, another about education funding generally in Texas, and the 3rd seems to be a Fox News bash piece.

The Wisconsin piece seems reasonably factual, the NY Times piece on Mrs. Bush is an opinion piece, the Examiner Fox News bash seems to be nit picking on some issues. For example, TARP, yes signed into law by Bush, but half reserved for Obama, who then went on to spend a lot more.

The Bush TARP was largely returned to the Treasury, not the Obama, Bush kept GM and Chrysler alive in discussion with Democrats, allowing Obama to decide what to do. The details, and in fact the actual bail out of GM and Chrysler were done solely by Obama and Democrats with very little Republican support. The article seems to indicate the students doing the poll at Maryland are a bit confused themselves and could benefit by watching some Fox News.



The CBO score question is plain wrong, the CBO had to use existing law, which included a substantial cut in payment to Medicare providers. Congress (under Democrats) changed the law, and increased Medicare spending substantially. This has made the old CBO score not only obsolete, but totally wrong. Obamacare WILL increase the deficit, because Democrats never intended to cut Medicare payments to providers which was in the law and was an assumption of the CBO when it gave a deficit cut score.
iVillage Member
Registered: 11-04-2010
<>

That's funny!

iVillage Member
Registered: 09-26-2010

"The CBO score question is plain wrong, the CBO had to use existing law, which included a substantial cut in payment to Medicare providers. Congress (under Democrats) changed the law, and increased Medicare spending substantially. This has made the old CBO score not only obsolete, but totally wrong."

From non-partisan Factcheck.org

iVillage Member
Registered: 02-05-2011
GIGO comes to mind. The CBO is forced to accept existing law and extrapolate from that. The Obamacare law was passed with an assumption that there would be massive cuts in Medicare payments to providers. This was part of the savings. Everyone knew this wouldn't happen, except the CBO, which was required to pretend there would be massive cuts to Medicare providers.

After Obamacare was passed, the same Congress that passed Obamacare with promised cuts to Medicare, changed the law, and maintained the current provider payment scheme. The CBO hasn't yet published a rescore of this change in law, once it does, Obamacare will greatly add to the deficit.

The law passed by the Democrats that increased provider payments, is often referred to in slang as the doctor fix. It adds 20 billion per year to Medicare, or 200 billion dollars over 10 years. Lets assume Obamacare would save money if the doctor fix wasn't enacted, then the CBO would have produced a useful document. However, that isn't what happened, instead over the next 10 years Obamacare is over budget by 59 billion dollars, and Obamacare was over budget by this amount within weeks of being passed.

Shortly Republicans will have the CBO score Obamacare with the doctor fix included in the assumptions, then continuing with Obamacare will cost us 59 billion dollars. Though that is only the start. There are going to be many other costs. Already health coverage premiums have skyrocketed under Obamacare. Many insurance companies have elected not to cover minor children. These kids who used to be insurable now have no way of getting any protection.

This was no secret, and was understood long ago, see - http://finance.yahoo.com/news/Medicare-fix-would-push-apf-2700343586.html?x=0&.v=2

The CBO is only permitted to score for 10 years. Obamacare was designed to only spend 2% of it's 10 year cost during the first 4 years. There will be 4 years of income, and not much in the way of benefits spent for 4 of the 10 years the CBO was required to score. This means the cost is understated as only 60% of the cost is being considered by the CBO.

If we assume 1 trillion dollars is 60% of the cost, yet income will come in for 10 years, the CBO is underestimating the cost of Obamacare by 40% once it has begun to pay benefits. This isn't a trillion dollar law with a surplus, it is a 1.5 billion dollar law with a planned 500 billion dollar deficit over 10 years. The CBO is required to only review the law as passed. It is very clear Obamacare doesn't balance.

Again, this was no surprise, you can read more about it here - http://www.weeklystandard.com/blogs/cbo-obamacare-would-cost-over-2-trillion


iVillage Member
Registered: 11-04-2010
<>

Considering the fact that skyrocketing premiums were not caused by the health care law, I'm doubting the rest of your post.
iVillage Member
Registered: 02-05-2011
iluvkrats wrote:
<>

Considering the fact that skyrocketing premiums were not caused by the health care law, I'm doubting the rest of your post.

Obamacare requires coverage of "children" until 26, and requires no limits on coverage. This has had a great impact on premiums. It also mandates open enrollment of children under 18. In many states enrollment of young children has ceased as no private insurance company will sell a policy for a child.

iVillage Member
Registered: 11-04-2010

<>

I'm not buying it. Children and young adults are excellent risks when it comes to insurance as they rarely have major health issues. In other words, the insurance companies collect the premiums and don't pay out much in the way of claims for those insureds. If insurance companies are telling you that keeping young people on their insurance and adding more children to their enrollment is the cause for skyrocketing premiums, you have just been lied to.

Some insurance companies didn't want to take on children with preexisting conditions, so they dropped all single coverage child policies (which apparently aren't very common in the first place).

iVillage Member
Registered: 05-23-2008

I can see giving a tax

iVillage Member
Registered: 05-23-2008

You can blame doctors and other medical institutions for the high cost of Medicare.