Bloomberg.com is reporting that the health care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid:
June 12 (Bloomberg) — Health-care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid, Ways and Means Committee Chairman Charles Rangel said.
Democrats will work on the bill’s details next week as they struggle through “what kind of heartburn” it will cause to agree on how to pay for revamping the health-care system, Rangel, a New York Democrat, said today. He also said the measure’s cost will reach beyond the $634 billion President Barack Obama proposed in his budget request to Congress as a down payment for the policy changes.
Asked whether the cost of a health-care overhaul would be more than $1 trillion, Rangel said, “the answer is yes.”
Ehh, what’s another trillion when you’ve already spent, lent or committed $12.8 trillion?
- Congressional Republicans Speak Out against Obama’s Plan for Government-Owned Health Care – CNSNews.com
- Dems brace for CBO score – The Hill
- Obama’s issues crumbling – The Hill
- Socialism and Cancer – The New Atlantis
- Government and Health Care: The Good, The Bad, and the Ugly – Cato Institute
- My Drug Problem – The Atlantic
- The Public Health Care Plan: What Seems to Be the Problem? – The Heritage Foundation
- GOP Introduces Alternative to Obamacare