As the national debt exceeds $12 trillion and the monthly deficit record of $176 billion was set in October, it would behoove officials in Washington to take reports of wasteful spending more seriously. This is especially true in regard to the tens of billions of dollars that are wasted each year in federal healthcare programs.
Congress Plans to Tap Medicare to Pay for Healthcare Reform
The Senate Finance Committee has reported out S. 1796, its version of a health care reform bill. This was preceded, and indeed made possible, by an estimate from the Congressional Budget Office (CBO) that the bill would increase federal government spending by only $829 billion in 2010-2019. With new taxes and reductions in projected spending in Medicare and Medicaid, CBO said this would actually result in a net saving to the federal budget of $81 billion over this period. The bill’s advocates greeted this estimate with relief, tinged with self-congratulation for having produced a bill that, in the current environment, was considered by them to be fiscally responsible.
Medicare is Afflicted with Chronic Wasting Disease, and its Catchy
All of the healthcare reform bills currently under consideration depend, to a significant degree, upon eradicating waste and abuse from Medicare in order to offset the costs of the new coverage package. Squeezing waste out of Medicare is a laudable goal and an aggressive waste eradication campaign could yield savings of $40 to $50 billion annually (conservatively), or 10 percent, a much higher percentage of fraud than exists in private healthcare systems. Unfortunately, it is a pipedream. Administrations and Congresses going back decades have tried, and failed miserably, to eliminate the waste.
Healthcare: Everyone Gets a Deal and Taxpayers Get the Tab
No one questions that the nation’s healthcare system is troubled and needs to be fixed. Typically, Congress would propose legislation to fix the heart of the problem and then cut whatever side deals are needed to pass the legislation.
The Obama administration and congressional majority campaigned on a theme of changing the way Washington worked. Most voters assumed that meant negotiations on major legislation would be open and transparent. Unfortunately, there is less transparency than ever as final House and Senate healthcare bills are being crafted behind closed doors.
Budget Gimmicks Hide the True Costs of Obamacare –
There is a lot of discussion of how much the Obama healthcare plan will cost the federal government. The House bill, if passed, will spend more than $1 trillion over 10 years and the Senate bill would spend more than $800 billion over 10 years. This spending will be paid for with a lot of […]
The Devil is in the Details of the Healthcare Bills, Or Not
President Obama and congressional Democrats have been playing defense on healthcare reform throughout the month of August as congressional town hall meetings across the country have erupted in anger and frustration. A favorite theme in the President’s and his allies’ speeches is that Americans have been manipulated and exploited by opponents of his healthcare initiatives, jack-booted obstructionists who are peddling falsehoods about what is actually in the bills.
Salvage the Good from the Healthcare Debacle
The healthcare reform juggernaut, arguably the most radical attempt to remake the economy and the nation’s healthcare infrastructure in history, was supposed to have flown through Congress before the August recess with nary a peep. Instead, as Americans have gotten wind of its alarming provisions and exorbitant costs, the plan appears to be fizzling fast in the summer heat.
“Cash for Clunkers” Comes to a Screeching Halt
This past June, Congress added $1 billion to the 2009 Supplemental Appropriations Act for the “Consumers Assistance to Recycle and Save Act of 2009”. Though it had no business appearing in an emergency war funds bill, this “Cash for Clunkers” provision established a new one-year program administered through the Department of Transportation’s (DOT) National Highway Traffic Safety Administration (NHTSA) that gave individuals with older, less fuel efficient cars a credit worth up to $4,500 towards the purchase of a new car that met certain fuel efficiency standards.
A “Generic” Call for Change
As Congress braces for the largest reform of healthcare in the nation’s history, lost in the debate has been an issue critical to federal and state healthcare budgets, as well as the ability of consumers to afford lifesaving drugs. The issue is whether Congress should grant generic makers of the next generation of medications called “biologics” the same regulatory approval treatment it did for chemical drugs under the 1984 Hatch-Waxman Act.
Healthcare Reform: A Pricey Prescription
President Obama promised this would be the year of health care reform, but many are bracing for what this “reform” could really mean. After much anticipation, Democrats have started to unveil their healthcare reform plans, revealing new policy proposals that would, among other things, expand Medicaid, impose individual and employer mandates, enlarge the almost bankrupt Medicare program, create a new government-run healthcare plan, and cost at least $1 trillion over 10 years. The overall result will inevitably be higher taxes, less patient choice, and ultimately, rationing of care.