nhboy
03-15-2012, 05:05 PM
Link to original article. (http://tpmdc.talkingpointsmemo.com/2012/03/conservatives-distort-cbo-data-to-claim-obamacare-costs-have-exploded.php)
"Republicans and conservative media are cherry-picking a figure in a new Congressional Budget Office spending estimate (PDF) to assert that the cost of “Obamacare” has nearly doubled to $1.76 trillion.
But the claim ignores the corresponding savings during the additional period of the spending projection, thus distorting the actual cost estimates of the law.
“The new CBO projection estimates that the law will cost $1.76 trillion over 10 years — well above the $940 billion Democrats originally claimed,” Rep. Tom Price (R-GA), the No. 4 House Republican, declared in a press advisory. The powerful Energy & Commerce Committee said the CBO report “reveal[s] a shocking new sticker price of $1.8 trillion.”
Fox News and other conservative outlets have trumpeted the out-of-context number as vindication for those who warned it’ll cost far more than advertised.
CBO’s actual revised estimate is that the “gross costs of the coverage provisions,” — the money used to provide people Medicaid or private insurance — has risen by about $50 billion over the 2012-2021 period since its previous estimate, from $1.445 trillion to $1.496 trillion. That’s the only relevant change to spending projections in the report."
"When you drink water, always think about the source."
"Republicans and conservative media are cherry-picking a figure in a new Congressional Budget Office spending estimate (PDF) to assert that the cost of “Obamacare” has nearly doubled to $1.76 trillion.
But the claim ignores the corresponding savings during the additional period of the spending projection, thus distorting the actual cost estimates of the law.
“The new CBO projection estimates that the law will cost $1.76 trillion over 10 years — well above the $940 billion Democrats originally claimed,” Rep. Tom Price (R-GA), the No. 4 House Republican, declared in a press advisory. The powerful Energy & Commerce Committee said the CBO report “reveal[s] a shocking new sticker price of $1.8 trillion.”
Fox News and other conservative outlets have trumpeted the out-of-context number as vindication for those who warned it’ll cost far more than advertised.
CBO’s actual revised estimate is that the “gross costs of the coverage provisions,” — the money used to provide people Medicaid or private insurance — has risen by about $50 billion over the 2012-2021 period since its previous estimate, from $1.445 trillion to $1.496 trillion. That’s the only relevant change to spending projections in the report."
"When you drink water, always think about the source."