Tumultuous Obama Nov 9, 2009
6 trillion federal budget that will carry the federal deficit to a dangerous level of our Gross Domestic Product and taken over two of the three major car makers, losing tens of billions in loans to GM and Chrysler. (The only major American carmaker not owned by the government, Ford, reporting a positively bountiful profit last week. (Human Events Online)
Democrats claim big victory on health care Nov 9, 2009
6 trillion industry that consumes $1 of every $6 Americans spend; part is due to budget maneuvering that delays expenditures to meet Obama's pledge not to add to the burgeoning federal deficit within a 10-year budget window ... Republicans hope to tap growing displeasure with federal deficits and unemployment among independent voters, who last week handed the GOP big gubernatorial victories in Virginia and New Jersey. (San Francisco Chronicle)
Insurers, Drugmakers Fight Profit-Pinching House Health-Care Overhaul Bill Nov 8, 2009
president of Americas Health Insurance Plans, in a Nov. 5 letter to House Speaker and Republican leader , said a new government-run plan would bankrupt hospitals, dismantle employer coverage, and ultimately increase the federal deficit. . (Bloomberg -- US)
House narrowly passes health bill Nov 8, 2009
"This health care legislation will provide security for seniors, guarantee health insurance coverage for the uninsured, make health care more affordable for middle-class families and contrary to popular belief, reduce the federal deficit over the next 10 years and beyond while covering 96 percent of Americans," Thompson said ... The bill was estimated to reduce federal deficits by about $104 billion over a decade, although it lacked two of the key cost-cutting provisions under consideration in... (The Clarion-Ledger)
Jobless Rate Tops 10% First Time Since '83 Nov 7, 2009
Congress is already grappling with sweeping health care legislation, raising concerns about further swelling the federal deficit. "More debt, more spending ... clearly has not worked -- particularly in a time of double-digit unemployment," said Senate Republican leader Mitch McConnell of Kentucky. (Click2Houston, TX)
The cost of not enacting health care reform Nov 7, 2009
The debate centers on whether the bundle of new taxes, credits, efficiencies, and Medicare spending cuts will be sufficient to offset the new spending so as to deliver health care reform without, in President Obama s words, adding a dime to the federal deficit. This debate misses the point. (Boston Globe)
Dems get backing on health care reform Nov 6, 2009
AMA, AARP back House health care bill - CNN.com. Part of complete coverage on Share this on. (CNN)
Dems' Healthcare Means Tax Increases Nov 6, 2009
(The bill passed by the other Senate committee isn t paid for at all and would add hundreds of billions more to the federal deficit. And, if a Reid bill containing the Finance Committee provisions becomes law, then the President s promise not to raise taxes on families making less than $250,000 will be broken. (Human Events Online)
Don't Sneer at GOP Victories Nov 4, 2009
When Newt and his conservative cadres took control of both Houses of Congress, the federal deficit stood at 2. 87% of the Gross Domestic Product. (Townhall.com)
The Last Unsubsidized American Nov 4, 2009
Provided you suspend disbelief and accept the analysis of the Congressional Budget Office, the version of the health care plan approved by the Senate Finance Committee complies with President Obama's vow that the plan will not increase the federal deficit. Under this bill, the government will force individuals to buy health insurance but not employers. (Townhall.com)
Can GOP stop health care bill? Nov 3, 2009
Both men disputed a report from the nonpartisan Congressional Budget Office that found the House Democrats' plan would lower the federal deficit despite its nearly $1 trillion price tag. More on ajc. (Atlanta Journal-Constitution -- Metro)
Show Transcript: November 2 Nov 2, 2009
Some critics have argued that several of President Oama's policies, like the economic stimulus plan or a government-run health insurance program, would raise the federal deficit. That's how much more money the government spends than it takes in. (CNN -- US)
How I got well in India for $50 Nov 1, 2009
(Despite the cost, it's still estimated to reduce the federal deficit by roughly $30 billion over 10 years. . (Salon)
Lieberman twists the knife Nov 1, 2009
Maybe he can also take some time then to justify his strong support for the government bailout of troubled banking and insurance companies that has tripled the federal deficit this year to $1. 4 trillion. (Paragould Daily Press, AR)
Despite fuss, government health plan to cover few Nov 1, 2009
But to keep from piling more on the federal deficit, most of the uninsured will have to wait until 2013 for help. Even then, many will have to pay a significant share of their own health-care costs. (AZCentral -- News)
Letters to the editor (10/30/09) Oct 30, 2009
While I fully support fixing the Medicare reimbursement rates for doctors, this proposal would have added a quarter trillion dollars to the record-high federal deficit without identifying a way to pay for it. In addition to the huge cost, the bill would have stripped the reimbursement formula from Medicare without replacing it with a new one. (Anchorage Daily News)
Economy grows in Q3, unofficially ends recession... Oct 30, 2009
"The economy is entirely dependent on federal deficit spending at the moment. But the stimulus will not fade right away ... that means we can rely on solid growth continuing through the first quarter of next year," said Chris Low, chief economist at FTN Financial in New York. "Once the government steps aside, growth is likely to fall back to a 1-2 percent rate of growth.". (The Drudge Report)
House Dems reveal $894B health plan Oct 30, 2009
Pelosi said the legislation would reduce federal deficits over the next decade by $104 billion, and congressional budget experts said it would probably reduce them even further over the following 10 years ... Ignagni added that the presence of a government-run insurance plan "would bankrupt hospitals, dismantle employer coverage, exacerbate cost-shifting from Medicare and Medicaid and ultimately increase the federal deficit.". (MSNBC -- Politics)
Oh, rats, its the weekend update Oct 30, 2009
The city of Atlanta is scrambling to spend $30 million in federal deficit money. As the AJCs D.L. Bennett reported: Atlanta officials have pushed through more than 50 last-minute deals with service agencies who hope to spend like crazy before the program expires Dec. 31. (Atlanta Journal-Constitution -- Opinion)
`Tribal Chiefs' Pressure Reid to Spend More on Health-Care Overhaul Plan Oct 30, 2009
These and other possible changes may force Reid to consider new ways to raise revenue to meet President pledge that the bill wont add to the federal deficit, said , a Princeton University health economist. The health-reform bill is no different than tribal warfare: To get this bill through, youve got to pay off the tribal chiefs, Reinhardt said. (Bloomberg -- US)
U.S. House unveils unified health care bill Oct 30, 2009
Pelosi's office said the bill would cut the federal deficit by roughly 30 billion dollars over the next decade. The measure is financed through a combination of a tax surcharge on wealthy Americans and spending constraints in Medicare and Medicaid. (Xinhuanet, China)
House Dems unveil health care bill Oct 30, 2009
House Speaker Nancy Pelosi's office says the bill would not increase the federal deficit ... Pelosi's office said the bill would cut the federal deficit by roughly $30 billion over the next decade. (CNN)
Tester talking health care reform Oct 30, 2009
In response to a caller from Helena, Tester said he agrees that benchmarks should be included in the bill, such as to track whether the legislation is meeting its goal of not adding to the federal deficit a requirement Obama has set. Congress should be watching the impacts of the bill and making changes as needed, Tester said. (Havre Daily News, MT)
Answer Desk: Health care cost breakdown Oct 26, 2009
The way the CBO figures it, the whole thing would actually reduce the federal deficit by $12 billion over the next decade. 1. (MSNBC -- Business)
From one teen to another Oct 24, 2009
To know why people are outraged you need to answer these three questions: What is the projected federal deficit for the next ten years. What percentage of one's income is being taken in taxes now. (Logan Herald Journal, UT)
The Healthcare Reform Fraud Oct 24, 2009
Senator Baucus touted a Congressional Budget Office report that allegedly bolstered his claim that the bill wouldnt add a dime to our federal deficit ... Baucus claimed the cost of the healthcare reform bill would be 829 billion over the first ten years, and that the bill included sufficient spending cuts and tax increases to avoid adding to our already enormous federal deficit ... How did Baucus pull out of the hat his projected cost of 891 billion with no addition to the federal deficit... (Nogales International, AZ)
Who Picks Up the Tab for Health Reform Oct 23, 2009
It also meets President Barack Obama's demands that a reform package cannot add to the federal deficit and the tab should come in at around $900 billion over 10 years. With billions in potential profits or lost benefits at stake, lobbyists are scrambling to make sure that someone else anyone else foots the bill. (BusinessWeek)
Tax increases are coming because theyre necesssary Oct 22, 2009
The federal deficit for fiscal 2009, which ended Sept. 30, was an astounding $1 ... Ben Bernanke, the chairman of the Federal Reserve, this week called for a clear commitment to substantially reduce federal deficits over time. (Atlanta Journal-Constitution -- Opinion)
US Health Care Tab Would Grow Under Overhaul Oct 22, 2009
Unlike previous estimates that have focused mainly on the legislation's impact on the federal deficit, the actuaries' report looked at total costs, public and private, over the next 10 years. It found that the nation's health care tab would increase somewhat more rapidly with the legislation than if nothing is done. (Click2Houston, TX)
Cashing In A (Shrinking) War Dividend Oct 21, 2009
Menino, who actually believes that a jump in military spending contributed to significantly raising the federal deficit and lowering our economic security, asked the federal government to be a better partner to Boston by reinvesting in its schools, public housing, transportation, and job-training programs, especially for young people. Of course, this is delusional, as any Pentagon budgeteer could tell you. (CBS News)
Health Care Negotiators Call It Quits for the Night Oct 20, 2009
Republicans and some Democrats have objected to the bill because it does not include any offsets and would add to the federal deficit. Reid had originally scheduled the vote for Monday, but had to postpone that vote once it became apparent there was not enough support to pass it. (Roll Call)
The White House Readies a Stealth Stimulus Oct 19, 2009
And that opposition is likely to grow after Friday's announcement that the federal deficit for the fiscal year that just ended hit $1. 4 trillion, which, at almost 10% of the total economy, represents the largest share since the end of World War II.. (Time.com)
Bread and Circuses and Obamacare Oct 19, 2009
President Obama has insisted that the health care reform measure not increase the federal deficit, and the Senate Finance Committee bill (actually no more than an outline) was dutifully scored by the Congressional Budget office as actually reducing federal expenditures. But it did so to the consternation of two constituencies that must be on board to pass a bill and get it to Obama s desk by Christmas. (Human Events Online)
GOP Launches Strategy to Trip Up Health Bill Oct 19, 2009
Obama has said he will not sign a health care bill that costs more than $1 trillion over 10 years and adds to the federal deficit. But even if the final Senate bill meets these requirements, as the $829 billion Finance package does, Republicans are prepared to pounce. (Roll Call)
Federal Deficit Hits All-Time High Of $1.42T Oct 17, 2009
Federal Deficit Hits All-Time High Of $1 ... Federal Deficit Hits All-Time High Of $1. (Click2Houston, TX)
Health Care 'Reform' -- Getting Less for More Oct 15, 2009
But the CBO claims it actually would reduce the federal deficit by $81 billion. How. (Townhall.com)
Senate committee passes health care reform bill Oct 15, 2009
The legislation is projected to cost $829 billion during 10 years, but the projects that it would reduce the federal deficit by $81 billion because it curbs the growth of spending on federal health care programs and raises revenue through new taxes on health insurers, pharmaceutical companies and medical device companies. Committee Chairman Max Baucus, D-Mont. (Wichita Business Journal, KS)
Survey: Most economists see recovery beginning Oct 14, 2009
The forecasters upgraded the economic outlook for the next several quarters, but cautioned that unemployment rates and the federal deficit are expected to remain high through the next year ... Still, the federal deficit has ballooned and the jobless rate is expected to lag behind, as employers remain cautious. (Yahoo News -- Press Releases)
EARLIER: Insurers mount attack against health overhaul Oct 14, 2009
It got a boost last week when the estimated it would cover 94% of eligible Americans while reducing the federal deficit. But the PricewaterhouseCoopers analysis attempted to get at a different issue costs for privately insured individuals. (USA Today)
Health Care: What Comes Next Oct 14, 2009
In remarks from the White House Rose Garden, President Obama said the Senate Finance bill "is not perfect." But he added that the bill "goes a long way towards offering security to those who have insurance, and affordable options for those who don't. It reins in some of the worst practices of the insurance industry, like the denial of coverage due to pre-existing conditions. It also sets up an insurance exchange that will make coverage affordable for those who don't currently have it." And he... (BusinessWeek)
Senate panel passes health bill Oct 14, 2009
Last week, the nonpartisan Congressional Budget Office concluded that the finance committee's bill would result in reducing the federal deficit by $81bn and mean some 94% of eligible Americans would have insurance coverage. However, Republicans say the final draft which will be voted on is likely to be very different and more expensive than this version. (BBC News -- Americas)
Obama Says Congress Approaching `Historic Moment' for Health-Care Debate Oct 13, 2009
Obama said his push for a bill was aided by the Congressional Budget Offices that the version being considered by the Senate Finance Committee would trim the federal deficit while insuring millions more people. He also cited endorsements of his effort by prominent current and former Republican officeholders, such as California Governor. (Bloomberg -- Latin America)
Health insurance report draws fire Oct 13, 2009
CBO report boosts Baucus planThe Baucus plan got a boost last week when the Congressional Budget Office estimated it would cover 94 percent of eligible Americans while reducing the federal deficit. The PricewaterhouseCoopers analysis attempted to get at that issue, concluding that a combination of factors in the bill and decisions by lawmakers as they amended it would raise costs. (MSNBC -- Politics)
Summers to GOP: Stimulus is working Oct 13, 2009
That will clue you in as to who ran up the largest federal deficit in history in 2008, only to triple it in 2009. You'd think a Michigander would have a better idea of just how bad left wing government officials can trash an economy. (TheHill.com)
Insurers' Health Reform Attack Draws Fire Oct 13, 2009
The Baucus plan got a boost last week when the Congressional Budget Office estimated it would cover 94 percent of eligible Americans while still reducing the federal deficit. But Ignagni said that number needed to be in the high 90s for the system to work without crushing costs for privately insured individuals. (CBS News)
Vote set for health overhaul in00004000 Senate committee Oct 13, 2009
More than nine months in the making, the health care bill soon to emerge from the Senate Finance Committee is the only one judged so far to meet President Barack Obama's conditions for significantly expanding insurance coverage without raising federal deficits, at the same time it slows the rise in medical costs ... Majority Leader Harry Reid said the Finance Committee will vote Tuesday on a 10-year, $829-billion proposal that would expand coverage to 94 percent of eligible Americans-while... (Fresno Bee -- Local)
A last bid to scuttle reform Oct 12, 2009
(The budget office credited the Senate Finance Committee bill with reducing the federal deficit; slowing the growth of total public and private spending is a separate question. . (Albany Times Union)
On healthcare, Obama juggles losses and gains Oct 12, 2009
Only time will tell, but the White House might take comfort from one conservative House Democrat's reaction to Obama's pledge not to let a healthcare overhaul blow up the federal deficit. "I come away from that with new hope that maybe we can reach agreement," said Rep. (FOX61, CT)
'Conceptual Language' Hides Health Care's Costs Oct 12, 2009
I'm referring to the headlines earlier in the week to the effect that the health care bill sponsored by Senate Finance Committee Chairman Max Baucus will cut the federal deficit by $81 billion over the next 10 years. Yes, that is what the Congressional Budget Office estimated. (Townhall.com)
NYT: Lobbyists fight plans to cut health costs Oct 12, 2009
Lobbyists fight big plans to cut health care costs. Some Obama vows fall victim to organized interests and parochial politics. (MSNBC -- Politics)
Insurers take aim at health bill Oct 12, 2009
It got a boost last week after the Congressional Budget Office estimated it would cover 94 percent of eligible Americans while reducing the federal deficit. Costs for privately insuredBut the PriceWaterhouseCoopers analysis attempted to get at a different issue costs for privately insured individuals. (MSNBC -- Politics)
Should you pay a penalty if you don't buy health insurance? Oct 11, 2009
The Senate Finance Committee's health care overhaul effort got a boost Wednesday when the nonpartisan Congressional Budget Office estimated that it would cost $829 billion and reduce the federal deficit by $81 billion over the next 10 years. That's good news for the committee and President Barack Obama, since the CBO reported not only that the measure meets their cost and deficit goals but also that 94 percent of eligible Americans could be expected to obtain coverage under it, up from the... (Fresno Bee -- Local)
Obama sees consensus on health care Oct 11, 2009
Obama: Unprecedented consensus on health. Weekly address focuses on reform; Republicans weigh in as well. (MSNBC -- Politics)
CBO: Medical malpractice reforms could save billions Oct 10, 2009
The budget scorekeepers estimated the total effect of malpractice curbs could reduce the federal deficit by $54 billion over 10 years, once $13 billion in new tax revenues from economic ripple effects are taken into account. Copyright 2009 Globe Newspaper Company. (Boston Globe)
* US deficit to hit US$1.4tn this year: CBO Oct 9, 2009
Congresss non-partisan financial watchdog said the forecast federal deficit for the fiscal year that ended last month was the highest shortfall X relative to the size of the economy X since 1945 ... The federal deficit last year was US$459 billion. (Taipei Times, Taiwan)
Analysts cost Senate health plan Oct 9, 2009
A healthcare bill drafted by the US Senate Finance Committee would expand insurance coverage but also cut the federal deficit, budget analysts say ... The Congressional Budget Office (CBO) concluded that the legislation drafted by the influential finance panel would cost $829bn by 2019 but that spending cuts elsewhere and new revenue would actually result in lowering the federal deficit by $81bn over the 2010-2019 period. (BBC News -- Americas)
Health Bill Would Cost $829B, Help Cover 94 Pct Oct 8, 2009
Democrats are breathing a sigh of relief after a positive cost report on health care overhaul gave them a chance to rally around a Senate plan that significantly expands coverage while trimming the federal deficit ... The budget umpires added that the legislation would reduce federal deficits by $81 billion over a decade and could lead to continued reductions in federal red ink in the years beyond. (ABC News -- Business)
CBO: Baucus bill costs $829 billion, reduces deficit by $81 billion Oct 8, 2009
"Today the Congressional Budget Office confirmed that the legislation in the Finance Committee to reform our healthcare system will be fully paid-for and reduces the federal deficit," Baucus said. "That's very good news... I'm very pleased that this will help advance the bill very quickly.". (TheHill.com)
Health reform given a boost Oct 8, 2009
WASHINGTON - Senate Democrats pushing health-care legislation received a boost Wednesday from congressional budget experts, who estimated that a bill being debated by the Senate Finance Committee would substantially expand coverage and lower the federal deficit. The nonpartisan Congressional Budget Office calculated that the legislation, written by Sen. (AZCentral -- News)
Congressional Dems get bad news from Gallup Oct 8, 2009
I just saw the CBO federal deficit projections at: 9. 9% of GDP. The highest ever the report said. (Atlanta Journal-Constitution -- Opinion)
Is Congress Giving States Too Much Power on Health-Care Reform? Oct 7, 2009
Going one step further, Oregon Senator Ron Wyden got an amendment passed which would allow states to opt out of parts of federal health reform if they could "provide health care coverage that is at least as comprehensive" as provided for in the Baucus bill and prove their state proposal "would lower health care spending growth, improve the delivery system performance, provide affordable choices for all its citizens, expand protections against excessive out-of-pocket spending, provides coverage... (Time.com)
Obama-backed health bill gains ground Oct 6, 2009
"This bill will lower taxes for more than 4 2 mi l l ion Americans and reduce the federal deficit," he said. "This bill will protect Medicare benefits for seniors. This bill will significantly expand health coverage." A final vote was delayed until next week so budget officials can certify the legislation does not add to federal deficits. (Havre Daily News, MT)
On healthcare and other hot issues: Follow the independents Oct 6, 2009
Above all, independents worry about the economy and the mounting federal deficit. They chafe against healthcare reform that seems expensive and government-heavy though they support goals such as universal coverage and insurance for preexisting conditions. (Christian Science Monitor)
Senate committee completes health care debate Oct 3, 2009
praised the Finance Committee proposal as one "that will improve the lives of every American ... in a fiscally responsible way." He said it would significantly expand health coverage while reducing the federal deficit, protecting Medicare benefits for seniors and lowering taxes for more than 42 million Americans. "We are offering a fiscally responsible bill that takes good ideas from both sides of the aisle," he said in a statement. (CNN -- Health)
Health Care Bill Nears Key Milestone Oct 3, 2009
"This bill will lower taxes for more than 42 million Americans and reduce the federal deficit," he said in announcing the completion of work on the package. "This bill will protect Medicare benefits for seniors. This bill will significantly expand health coverage.". (CBS News)
