The grandiose plans to overhaul our entire health care system, he says, are dead. Thanks mostly to the CBO’s repeated reality checks:
Three blows: (1) On June 16, the CBO determined that the Senate Finance Committee bill would cost $1.6 trillion over 10 years, delivering a sticker shock that was near fatal.
2) Five weeks later, the CBO gave its verdict on the Independent Medicare Advisory Council, Dr. Obama’s latest miracle cure, conjured up at the last minute to save Obamacare from fiscal ruin, and consisting of a committee of medical experts highly empowered to make Medicare cuts.
The CBO said that IMAC would do nothing, trimming costs by perhaps 0.2 percent. A 0.2 percent cut is not a solution; it’s a punch line.
(3) The final blow came last Sunday when the CBO euthanized the Obama “out years” myth. The administration’s argument had been: Sure, Obamacare will initially increase costs and deficits. But it pays for itself in the long run because it bends the curve downward in coming decades.
The CBO put in writing the obvious: In its second decade, Obamacare significantly bends the curve upward — increasing deficits even more than in the first decade.
Then there was Obama’s unconvincing July 24th press conference, and the popular revolt against ObamaCare. The White House exposed the “farcical nature of its frantic and futile cost-cutting” when budget director Peter Orszag held a three-hour brainstorming session with Senate Finance Committee aides trying to find ways to save”:
“At one point,” reports The Wall Street Journal, “they flipped through the tax code, looking for ideas.” Looking for ideas? Months into the president’s health-care drive and just days before his deadline for Congress to pass real legislation? You gonna give this gang the power to remake one-sixth of the U.S. economy?
What this all amounts to is an epic FAIL in the attempt to overhaul the entire U.S. health-care system. Thank God. We can stop hyperventilating.
What Krauthammer predicts:
…the president will, in the end, simply impose heavy regulations on the insurance companies that will make what you already have secure, portable and imperishable: no policy cancellations, no pre-existing condition requirements, perhaps even a cap on out-of-pocket expenses.
To pay for this, they will have to force 18 million Americans between 18 and 24 to buy health insurance, which, no doubt, they’ll sell as much needed preventative care.
So no big surprise, the big government fix would lead to a decrease in personal liberties, but would be nowhere near as bad as it could have been, and the Obamessiah will get full credit for a huge legislative success.
A question. How would the health insurance reform compromise handle illegal immigrants? We probably don’t want to hear the answer to that.
Not so fast….
Are the Dems still trying to push through their plan with dwindling public support?
Don Surber says it sure looks like it.