Here are a few initial thoughts from The Concord Coalition about the House of Representatives health care bill (H.R. 3962) and the preliminary scoring of that bill by the Congressional Budget Office (CBO):
Well, it took a couple months, but those with a stake in health care reform have finally figured out that the idea of an excise tax on insurance companies instead of an any alternative tax on “real people” was no magic cure for the want-more-revenue-but-don’t-want-higher-taxes blues. From a story by Ben Smith and Patrick O’Connor in today’s Politico (emphasis added):
The big news this week on the health care front was the release of the Senate Finance Committee's initial draft of its health care legislation. The big interest in the budget world with this development is that it marked the first complete reform legislation with a score from CBO that shows deficit reduction, not only during the 10-year budget window but also in the years beyond.
After President Obama's big health care speech this week, we have been talking here at Concord about how he makes it sound as if all we have to do to cut health care costs is cut the “waste” and “abuse” that no one should want anyway. That’s how he can claim his plan would reduce federal health spending without cutting any federal health care “benefits” -- because it wouldn’t cut any spending that actually “benefits” people.
Perhaps even more than most of Concord’s Fiscal Wake-Up Tour programs, the one in Maine this week underscored the need for a really big alarm clock.
The recession has sliced into the government's revenue while putting its spending on steroids. Concord Executive Director Robert L. Bixby offered the Wake-Up Tour audience of more than 200 in Kennebunkport a troubling factoid: last month’s federal deficit of $180 billion was larger than the deficit for all of 2007.