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Debt Commission Pops Two Bubbles
Topic Started: Dec 2 2010, 08:12 AM (118 Views)
George K
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Finally
http://www.aolnews.com/opinion/article/opinion-6-hidden-gems-in-the-debt-commission-report/19741541

1) Guess what? Obamacare will NOT save money!
Quote:
 
Health reform's cost savings apparently were bogus. Remember how Democrats boasted that health reform would cut the budget deficit by $170 billion over the next decade and far more after that? The deficit commission must not have gotten that memo. It says health spending projections under the new law "count on large phantom savings" and the reform law's new long-term care program that the report calls "unsustainable." As a result, Congress will still need to enact "a number of other reforms to reduce federal health spending and slow the growth of health care costs more broadly."


2) Guess what, again? Obama is a big spender! No, really!
Quote:
 
Although President Barack Obama has talked about fiscal discipline -- and set up this deficit commission -- his own budget plan would spend $350 billion more on so-called discretionary programs over the next decade than if the government were just left on autopilot, according to the report.


Oh, sorry. Never trust a doctor to do math...

3) Deficit can be cut, pretty easily:
Quote:
 
It's actually not that hard to cut the deficit. The report talks loudly about the "painful" choices ahead and how there's "no easy way out." But what the report really shows is that a comprehensive package of relatively modest and reasonable policy changes can bring deficits under control.

The tax reform plan, for example, is modeled on the reforms enacted under President Ronald Reagan, which also lowered and simplified income tax rates in exchange for cutting back on a thicket of tax loopholes. The Social Security reforms are all unexceptional and slowly phased in. The cuts in discretionary spending mainly just strip out the massive spending increases enacted over the past couple of years. Indeed, probably the toughest medicine in the plan is a 15 cent per gallon hike in the federal gas tax by 2015 -- which would cost an average driver about $100 a year.



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