The CBO has finished their analysis of the new House GOP Healthcare bill and has delivered a crushing blow to the GOP’s hopes of getting it passed quickly and easily. Granted, this was never going to be an easy sell, as conservative Republicans and moderate RINO’s have very different views of how healthcare should work, but at least there was a chance that the differences could be ironed out. Now, those hopes are dashed.
While the CBO says that the new bill will reduce the deficit by $337 BILLION, it also expects some 24 million people to lose their health insurance by 2026.
As expected, the Republicans are arguing that the numbers are wrong, and the Democrats are arguing that this is proof that the GOP’s bill is bad for the nation.
Senate minority leader Chuck Schumer (D-NY) jumped out in front of the media Monday afternoon to decry the GOP and their healthcare bill.
Now, the Republican, hand-picked, head of CBO has confirmed what we Democrats have been saying all along. Trumpcare would be a nightmare for the American people.
Causing tens of millions to lose coverage and millions more seeing the costs of their health care going up. Ten years from today, if President Trump and the Republicans have their way, there would be 24 million more Americans without health insurance, a total of 58 million Americans living in this country ten years from now will not have health coverage.
That’s unamerican. That’s wrong.
Premiums for seniors will rise a whopping 20% to 25%, and copayments and deductibles for millions more. If there was ever a war on seniors, this bill, Trumpcare, is it. The bill spends almost twice as much on tax cuts for the wealthy compared to tax credits to help older middle-class Americans afford health insurance. The rich get $592 billion in tax cuts for the richest. Compared to only $361 billion for the middle class and the working class to afford health care. So when Speaker Ryan says it’s an act of mercy, yeah, for those people who make over $250,000 a year because they get big tax cuts.
But the Trump administration has long argued that the goal of healthcare reform is to make sure that everyone can get the coverage they need at a price they can afford. Currently, while some people have coverage, they are unable to use it because the prices are astronomical and the deductibles are too high.
Trump admnistration officials have repeatedly said that the number of people insured is not the ultimate goal of their healthcare reform, saying: “If you’re an individual out there making fifty, sixty thousand dollars and your deductible is eight, ten, twelve thousand bucks you may have that insurance card, but you don’t have coverage. And I hear from my former colleagues all the time about patients who come into their office and they recommend something for them, and they’re not able to get it because the deductible is so high.”
The administration did speak out against the CBO results on Monday afternoon though, and HHS Secretary Tom Price and budget director Mick Mulvaney told the media that the CBO estimate is wrong about how many people will lose their health insurance. Mulvaney explained the crux of the problem, “The CBO score assumes that if you are on Medicaid today, you will chose to be off Medicaid when the mandate goes away. Does that make sense to anybody? The plan doesn’t get rid of the Medicaid expansion.” Meanwhile Price told reporters that every American will be able to buy the coverage plan that they want under the new plan.
Lest you think that the administration is simply trying to throw the CBO under the bus in their efforts to defend their healthcare plan, read what the liberals at Salon.com said less than 3 years ago.
Floyd Norris, Zachary Karabell, and Dean Baker have noted how often the CBO gets it wrong, and how it influences policy in damaging ways. I wrote last March in Harper’s Magazine that there should be a shadow CBO to correct and decipher CBO pronouncements…
CBO economists can’t make single-point projections with any confidence, so why do they? These forecasts are often terribly misleading. The recent minimum wage report, as I noted on Next New Deal, is a perfect example. Everyone took the CBO’s midpoint number as an actual projection. Why? Because the CBO said it was in just those words. That is its mandate. In addition, the CBO’s “non-partisan” label is taken to mean “objective,” and to non-practitioners, its projections simply reflect some hard, politically unbiased analysis…
The state of economics simply doesn’t warrant the certitude that the CBO almost always implies—and then qualifies, as I say, in the footnotes.
If the liberals thought the CBO was untrustworthy and that their mission was misguided less than 3 short years ago, why do they put so much faith in the CBO now? It wouldn’t have anything to do with the Republican administration and leadership in Congress, would it?