The GOP’s ‘new math’ on ‘Obamacare’
Posted by AzBlueMeanie:
I happened to catch this AP report in the Arizona Republic Study: Obama's health-care law would raise deficit
[A] leading conservative economist estimates in a study to be released Tuesday that the overhaul will add at least $340 billion to the deficit, not reduce it.
Charles Blahous, who serves as public trustee overseeing Medicare and Social Security finances, also suggested that federal accounting practices have obscured the true fiscal impact of the controversial legislation, the fate of which is now in the hands of the Supreme Court.
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Blahous, in his 52-page analysis released by George Mason University's Mercatus Center, said, "Taken as a whole, the enactment of the (health-care law) has substantially worsened a dire federal fiscal outlook.
The AP disclosed that "Blahous served in the George W. Bush White House from 2001-2009, rising to deputy director of the National Economic Council. He currently is a senior research fellow at the Mercatus Center."
The Mercatus Center just happens to be one of the billionaire bastard Koch brother's think tanks. Koch-Funded GOP Economist Uses New Math To Find That Health Reform Increases The Deficit | ThinkProgress:
George W. Bush’s Social Security privatization guru Charles Blahous — who now works for the Koch-funded Mercatus Center — is out with a new report alleging that the Affordable Care Act adds $340 billion to the deficit. The new math relies on the old “double counting” meme — an argument advanced by Republicans in Congress in the final days of the health care reform debate alleging that the Congressional Budget Office (CBO) appropriated the same revenue for extending the solvency of the Medicare trust fund as it did for paying out benefits.
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What Blahous calls “double counting” is actually the “unified budget process,” an accounting method that considers the spending and revenues of the entire federal budget over a 10 year period and the way Congress keeps track of its dollars. It’s the same math that the Congressional Budget Office (CBO) relied on to conclude in 2010 that the law “would produce a net reduction in federal deficits of $143 billion over the 2010–2019 period as result of changes in direct spending and revenues.” Earlier this week, the CBO updated its estimate, reporting that the Affordable Care Act is expected to cost $50 billion less than they anticipated and Medicare actuaries reported that as a result of the savings in the law, the life of Medicare’s Hospital Insurance (HI) Fund is extended to 2024, instead of in 2016.