It would be interesting to know if Democrats’ federal budget projections were as far-fetched as those they imposed on Medicare, but Senate Democrats haven’t produced a budget in more than three years. – IBD
It is hard to understate the fiscal importance of a recently released paper from the Office of the Actuary for the Centers for Medicare and Medicaid Services (CMS).
And yet the document received only a shoulder shrug from the media and a complete blackout from Democrats. It’s easy to see why.
“The Trustees Report is necessarily based on current law; … however, the projections shown in the report are clearly unrealistic … The purpose of this memorandum is to present a set of Medicare projections under hypothetical alternatives to those provisions to help illustrate and quantify the potential magnitude of the cost understatement under current law.”
And PRESTO, ObamaCare is “paid for,” just as President Obama demanded! Oh, and those assumptions simultaneously reduced Medicare’s long-term unfunded liability by $53 trillion.
What a deal! (The unfunded liability had been estimated by the trustees in 2009 at about $90 trillion.) And it’s all because ObamaCare demands the number crunchers to assume the government will be paying so much less for health care services.
The Medicare actuary (rightly) doesn’t believe the government will actually make those cuts. And so it’s taking the unprecedented step, for the third time, of releasing an alternative (read: realistic) scenario.
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