The Politico is breaking some more bad news for Barry O and his socialist storm troopers. According to a CBO analysis, the $1 trillion healthcare plan’s independent panel designed to keep Medicare spending in check would, at best, save only $2 billion of the $1 trillion plan.
the Congressional Budget Office said the proposal to give an independent panel the power to keep Medicare spending in check would only save about $2 billion over 10 years- a drop in the bucket compared to the bill’s $1 trillion price tag.
“In CBO’s judgment, the probability is high that no savings would be realized … but there is also a chance that substantial savings might be realized. Looking beyond the 10-year budget window, CBO expects that this proposal would generate larger but still modest savings on the same probabilistic basis,” CBO Director Douglas Elmendorf wrote in a letter to House Majority Leader Steny Hoyer on Saturday.
The Blue Dogs might want to hang their hat on CBO’s more speculative cost savings projections, but those will whither away as the bill expands through Congress.
In other words, this bill will devastate the economy and drive up the deficit even further.