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Monday, March 15, 2010

Costs, costs, costs

One of the biggest myths surrounding the current health care legislation is the notion that these reforms will add to our national deficit. Nothing could be further from the truth.

The latest figures from the non-partisan referee of Congress, the Congressional Budget Office (CBO), show that the Senate health care bill will reduce our national deficit over time. According to the Director of the CBO,

CBO and JCT (Joint Committee on Taxation) now estimate that, on balance, the direct (mandatory) spending and revenue effects of enacting H.R. 3590 as passed by the Senate would yield a net reduction in federal deficits of $118 billion over the 2010-2019 period.

As Willy Wonka said in Willy Wonka and the Chocolate Factory, this fact is "all there, black and white, clear as crystal."

When opponents of reform claim that this legislation will increase the deficit, they are flat-out wrong. Not only is the bill paid for, it reins in extra costs and helps make current programs more efficient. Both of which bring down our deficit in the long term.

The bill also goes further to control other costs. According to a letter written by top economists from across the country,

Taken together, these measures are a serious, multi-faceted initiative to improve the quality and efficiency of American medical care, rein in the fastest growing portion of government and private budgets and provide a valuable platform for future cost-control efforts.

 There is no doubt that current health care costs are out-of-control and have a huge effect on our deficit, individual's wallets, and the health care system as a whole. The current bill will help reduce the deficit and start putting in measures to help control other health care costs. America needs this legislation. We literally cannot afford for this bill to fail.