June 18, 2009
I love this title from NPR on the cost of Obama-care:
T-Word Looms Large In Health Care Cost Debate The T-word they are talking about is trillion.
Despite reassurances by President Obama and Democratic leaders that all new spending would be fully offset by other spending cuts or tax increases, Republicans immediately jumped on the T-word.
Now saying trillion is akin to swearing. Like N-word or B-word.
And it’s soap in the mouth for the head of the (nonpartisan) CBO :
According to our preliminary assessment, enacting the proposal would result in a net increase in federal budget deficits of about $1.0 trillion over the 2010-2019 period. When fully implemented, about 39 million individuals would obtain coverage through the new insurance exchanges. At the same time, the number of people who had coverage through an employer would decline by about 15 million (or roughly 10 percent), and coverage from other sources would fall by about 8 million, so the net decrease in the number of people uninsured would be about 16 million or 17 million
The full report here.
WTF? One t-word dollars (over ten years) and we will reduce the number of uninsured by only 17 m-word people? It works both ways right? F-word that.
Why not give one trillion dollars to the uninsured so they can buy their own insurance. The number of uninsured people in the US is roughly 48 million. If you split up the cost of this part of the Obama plan, an uninsured family of four would get over $8,000 a year to pay for insurance. If you take out the uninsured that already would be covered by Medicaid but haven’t applied, that number falls to 31 million. That means a family of four would get almost $13,000 a year. If you want to be harsh and subtract out illegal immigrants without health insurance, the amount rises to $17,000 a year. That should be enough to buy you some decent insurance.
March 2, 2008
Rather than relieving the burden on working families, the current administration has provided tax cut after tax cut to the wealthiest Americans and enacted tax breaks for the most well-connected corporations. Barack Obama will restore fairness to the tax code and provide 150 million workers the tax relief they deserve.
From Congressman Jim Saxton(pdf):
“The CBO analysis shows that the 2001 and 2003 tax cuts have lowered the tax burden on middle income taxpayers to the lowest levels since at least the late 1970s,” Saxton said. “The CBO tax figures, put into historical perspective, also show that the income tax burden of middle income households has been reduced to its lowest levels in many years,” Saxton concluded.