This is #18 in a series of 20 posts discussing the President’s remarks on health care reform in Portsmouth, New Hampshire:
THE PRESIDENT: So it’s about a hundred billion dollars a year to cover everybody and to implement some of the insurance reforms that we’re talked about.
I assume this is just an honest arithmetic error, in which he assumed that a trillion dollars of new spending would be spread out over 10 years. Since the spending doesn’t start until year 4, and isn’t fully phased-in until year 6, the actual spending is much higher. The House bill would increase federal spending by $202 B in 2019, the 10th year of the estimate, twice the President’s stated figure.
Other posts in this series:
- The President’s overpromise that everyone can keep their health plan
- Putting the government in charge of your health insurance
- Waiting in line
- Government-mandated benefits
- Preventive care does not save money (in the aggregate)
- The House bill would increase short-term, 10th year, and long-term budget deficits
- The President was incorrect — AARP opposes the bill
- The bills would take Medicare savings needed for solvency and spend them on a new entitlement
- Medicare is not a good example of government-run health care because Medicare is fiscally unsustainable
- Even if the public option drops out of legislation, other parts of these bills would put private insurance under government control
- The President says the public option will keep private insurers honest at the same time he proposes cutting payments to private insurers competing with the Medicare public option
- The pending bills would move more cost-benefit decisions from insurers to people chosen by the government
- Guaranteed renewal and guaranteed issue
- The President says “we may be able to get even more than” the $80 B of budgetary savings that the pharmaceutical industry thought was a ceiling promised by the White House.
- The President says he’s not “promoting” a single-payer plan, but the only concern he raises is a disruptive transition.
- Many examples suggest that the government cannot compete on a level playing field with private firms.
- The President trashes the U.S. Postal Service and undermines the case that government can run a complex health system.