CSAPN Video - Reid dismisses $54 billion in tort-reform savings - Admits Baccus bill will cost $2 trillion »
Posted By pc25 2 months, 2 weeks ago in Political NewsHarry Reid struggles with math as well as with common sense in this clip from yesterday, which highlights Reid’s argument against considering tort reform as part of the overhaul of the American health-care system. Reid gets his numbers wrong, gets his scale wrong, and in the process admits that the actual cost of the Baucus plan is not $829 billion but $2 trillion:
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pc252 months, 2 weeks ago
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http://hotair.com/archives/2009/10/10/cbo-tort-ref...
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CBO now estimates that implementing a typical package of tort reform proposals nationwide would reduce total U.S. health care spending by about 0.5 percent (about $11 billion in 2009). That figure is the sum of a direct reduction in spending of 0.2 percent from lower medical liability premiums and an additional indirect reduction of 0.3 percent from slightly less utilization of health care services. (Those estimates take into account the fact that because many states have already implemented some of the changes in the package, a significant fraction of the potential cost savings has already been realized.)
Enacting a typical set of proposals would reduce federal budget deficits by roughly $54 billion over the next 10 years, according to estimates by CBO and the staff of the Joint Committee of Taxation. That figure includes savings of roughly $41 billion from Medicare, Medicaid, the Children’s Health Insurance Program, and the Federal Employees Health Benefits program, as well as an increase in tax revenues of roughly $13 billion from a reduction in private health care costs that would lead to higher taxable wages.
But that’s not the end of the savings, either. A 0.5% reduction in health-care costs would mean $11 billion in savings per year overall, with roughly 40% of that benefiting the federal government in Medicare and other federal program costs. That amounts to a whopping $110 billion in cost savings over ten years to the entire medical industry, which would help keep premiums in check for consumers. -
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pc252 months, 2 weeks ago
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The way the analysts on the various cable news shows were talking these past 2 weeks you are talking about a vote sometime around Christmas .........BTW are we still allowed to say Christmas or under Obama is it now going to be referred to as Winter Holiday Time.
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pc252 months, 2 weeks ago
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actually the more I think about it the CSAP typo fits Reid, the Obots, the Dems and you in particular perfectly, so much so why bother to correct it. Meanwhile what about the admission of the $2 trillion price tag. That amount is almost triple of what the Dems and Baccus have been pimping, on CSAP for all to see............
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