The Democratic co-chair of President Obama’s fiscal commission said Wednesday that the president’s health care bill will do very little to bring down costs, contradicting claims from the White House that their sweeping legislation will dramatically impact runaway entitlement spending.
By Jon Ward – The Daily Caller
“It didn’t do a lot to address cost factors in health care. So we’ve got a lot of work to do,” said Erskine Bowles, former White House chief of staff to President Bill Clinton, speaking about the new health law, which was signed into law by Obama this past spring after a nearly year-long fight in Congress.
Bowles, speaking at an event hosted by the U.S. Chamber of Commerce, said that even with the passage of Obama’s legislation, health care costs are still going to “really eat us alive” unless dramatic changes are made. The commission will submit recommendations on how to fix America’s long term fiscal problems to Congress in December.
Bowles’ point will be amplified Thursday when a conservative think tank releases a paper arguing that Obama’s health plan “is not entitlement reform,” at an event intended to highlight an alternative plan for reforming health care spending that is the brainchild of Rep. Paul Ryan, Wisconsin Republican.
James C. Capretta, a former White House budget adviser on health care to President George W. Bush, will present the paper for the Galen Institute at an event on Capitol Hill with Ryan, one of the Republican Party’s rising stars, and Douglas Holtz-Eakin, a top conservative economist.
Even as many on Capitol Hill are talking about addressing Social Security spending, Capretta writes in the 19-page paper that Medicare is the real problem.
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