Posted by AzBlueMeanie:
I previously posted the fact checks by CNN, ABC News and PolitiFact in Fact Check: Romney-Ryan 'pants on fire' – the $700 billion lie that will not die.
Today the Washington Post's fact checker Glenn Kessler weighs in on the GOP's $700 billion lie that will not die. Answering readers’ questions about Medicare – The Washington Post:
Did Obama cut $700 billion from Medicare?
The current Medicare system, in place since the mid-1960s, is essentially a government-run health-care program [that's "sociaism" to you teabaggers], with hospital and doctors’ fees paid by the government, though beneficiaries also pay premiums for some services as well as deductibles and co-insurance.
During the primaries, Republicans used to claim that Obama funded his health care plan with $500 billion in cuts.
So how did it balloon to a $700 billion figure? There is a simple explanation. The Congressional Budget Office last month issued a new estimate based on a different — and later — 10-year time frame (2013-2022). Of course, Republicans decided to pick the biggest number possible.
But, as we have repeatedly explained, Medicare spending is not being reduced. It still goes up year after year.
The $700 billion figure (technically, $716 billion) comes from the difference over 10 years between anticipated Medicare spending (what is known as “the baseline”) and the changes the law makes to reduce spending. Moreover, the savings mostly are wrung from health-care providers, not Medicare beneficiaries. (It is worth noting that, given past practices, the Medicare actuary has doubted whether such cuts will ever come to pass.)
The proposed reduction in spending actually strengthens the long-term health of the Medicare program, according to Medicare trustees reports. And spending on Medicare over that 10-year period would still be $7.8 trillion.
In fact, House Republicans adopted many of these same cuts in their own budget. (They argue they devote the savings to reforming Medicare, not funding a new entitlement.) Both parties agree that controls are needed on Medicare spending — that is the only way that the Medicare trust funds last longer — but they disagree over the best path forward. We have generally given Republicans Two Pinocchios for such claims.