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Politics : View from the Center and Left
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To: JohnM who wrote (116923)7/29/2009 3:07:21 PM
From: biotech_bull  Read Replies (2) of 541835
 
Hennessey, ex NEC director draws some nice charts using the CBO data, and reaches a simple conclusion.

CBO calls a TKO on the House health bill

Posted on July 28th, 2009 by kbh

In a letter to four key Republican Congressmen (Camp, Barton, Kline, and Ryan), the Congressional Budget Office destroys the House Democrats’ implementation of the President’s goal of long-term fiscal responsibility through health care reform. With this analysis the fight about the House bill is over by a technical knockout (TKO). The proposed income tax increases were the key vulnerability. I will walk you through the analysis and why I reach the following conclusion.

Conclusion: CBO says that because the proposed new health spending would grow faster than the proposed new income tax increases, the House health bill would increase the long-term deficit. Since the President has said he would not sign a bill that increases the long-term deficit, the bill is dead in its current form. Any tax increase that would grow more slowly than the proposed new spending faces the same irreconcilable problem. The only way to solve this problem and meet the President’s long-term goal is to cut health spending or tax employer-provided health insurance.

the rest and the charts here..

keithhennessey.com
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