Democrats trying to push President Obama’s health care overhaul through the Senate received a sobering economic warning from a new government report Friday.
Fox News’ Trish Turner, Jim Angle and The Associated Press contributed to this report.
December 11, 2009
WASHINGTON – Democrats trying to push President Obama’s health care overhaul through the Senate received a sobering economic warning from a new government report Friday that raises troubling questions about the bill’s cost.
The analysis from nonpartisan economic experts at the Health and Human Services Department concludes that the nation’s health care tab will grow more rapidly under the Democratic plan senators are debating — an estimated increase of $234 billion over 10 years. It also calls into question the Democrats’ plan to squeeze $493 billion in savings from Medicare over 10 years, saying it “may be unrealistic.”
In more bad news, the report released Friday warns that a new long-term care insurance plan included in the legislation could “face a significant risk of failure.” The silver lining: The bill provides coverage to 93 percent of Americans.
Republicans immediately pounced on the news.
“The experts tell us that the Reid bill would drive up costs and hurt seniors on Medicare,” Sen. Mike Enzi, R-Wyo., said. “Higher costs and cuts to Medicare are not the reforms the American people want and need. How many more devastating studies do we need before the Democratic leadership will agree we need to scrap these flawed bills and start over?”
Sen. John Cornyn, R-Texas, said the report only confirmed his warnings.
“Democrats have refused to believe me and my colleagues when we told them that the monstrous 2,074 page, $2.5 trillion Reid health care bill would increase premiums, raise taxes and cut Medicare,” he said in a written statement, citing a figure that exceeds the $848 billion estimate from the Congressional Budget Office and reflects what opponents say is the true cost of the bill when all the provisions are included.
“Now we have President Obama’s own independent actuary not only confirming these findings, but also concluding that the Reid bill would actually drive up this country’s unsustainable level of health care spending,” he said. “It’s time for Democrats to take their heads out of the sand and face the fact that the Reid bill is bad for America. It’s time to start over, craft a truly bipartisan bill that lowers costs for American families, businesses and taxpayers.”
But Democratic leaders welcomed the report, with Reid saying it confirms that his bill saves money and extends the life of Medicare.
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