Oops. Now that it has passed, we can know what is in it.
Two of the central promises of President Barack Obama’s health care overhaul law are unlikely to be fulfilled, Medicare’s independent economic expert told Congress on Wednesday.
The landmark legislation probably won’t hold costs down, and it won’t let everybody keep their current health insurance if they like it, Chief Actuary Richard Foster told the House Budget Committee. His office is responsible for independent long-range cost estimates.
Foster was asked by Rep. Tom McClintock, R-Calif., for a simple true or false response on two of the main assertions made by supporters of the law: that it will bring down unsustainable medical costs and will let people keep their current health insurance if they like it.
On the costs issue, “I would say false, more so than true,” Foster responded.
As for people getting to keep their coverage, “not true in all cases.”
Read more: sanluisobispo.com
During the debate, only cheerleaders were invited to give testimony. We also know that the CBO only crunches the number that they are given. So if they are told this or that will only cost so much, that is the number they use.
The Actuary calculates the numbers independently. For example the newly insured people will be getting medical services they would have otherwise gone without. A perfectly good idea, but the costs need to be calculated and known for budgeting.