CNS News posted an article yesterday stating that the Congressional Budget Office (CBO) has "already has reviewed provisions in the Affordable Care Act that purport to bring down health care spending - what Obama calls "bending the cost curve" - and found little evidence they will bear fruit."
The article reports:
"CBO also reviewed the proposal cited by Obama as the primary vehicle for saving "well over $1 trillion" -- the Independent Payment Advisory Board - and found that it would save only about $2 billion between 2010 and 2019.
""CBO estimates that enacting the proposal, as drafted, would yield savings of $2 billion over the 2010-2019 period (with all of the savings realized in fiscal years 2016 through 2019)," CBO said in a July 2009 letter.
"The Independent Payment Advisory Board - under Obama's proposal - would recommend ways to save money by making health care delivery more efficient. Medicare would incorporate these changes and use its large market presence to force those changes on the broader health care market.
"CBO, however, cast doubt on the advisory board's ability to ever actually do this, saying that because the plan lacked specific details for reducing costs, there was little evidence the board would ever save anyone any money.
""In CBO's judgment, the probability is high that no savings would be realized...but there is also a chance that substantial savings might be realized," CBO's 2009 letter stated."
Unless we begin to control government spending, America will go bankrupt. Enacting a multibillion dollar new healthcare entitlement at this time is not a wise move. One of the most effective ways Congress can cut the budget is to end Obamacare and start medical reform from scratch. Texas has done wonders with tort reform, Congress should follow their example.
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