Posted at 2:00 PM on May 23, 2012 by Catharine Richert (3 Comments) Filed under: PoliGraph <\/p>\n
Last weekend, Republicans endorsed Rep. Kurt Bills to run against U.S. Sen. Amy Klobuchar this fall. If elected, Bills says cutting government spending will be one of his top priorities. <\/p>\n
To stress just how bad things have gotten in Washington, D.C., Bills pointed to the rising cost of the new health care law. <\/p>\n
\"You have to look at Obamacare that was projected to spend $800, $900 billion and is now at $1.7 trillion,\" Bills told MPR's Mark Zdechlik in an interview May 21. <\/p>\n
It's true that the latest gross cost estimate of the new health care law is about $1.7 trillion, but that's only part of the story. <\/p>\n
The Evidence <\/p>\n
To make his case, Bills relied on a recent estimate from the non-partisan Congressional Budget Office that pegged the gross cost of the health care law at about $1.76 trillion between 2012 and 2022. <\/p>\n
In 2010, the CBO projected the gross cost of the law to be $938 billion between 2010 and 2019. In part, the initial 10-year cost was lower because many of the law's key provisions don't go into effect until 2014, ramping up in subsequent years. <\/p>\n
But Bills' claim leaves out an important point. <\/p>\n
The health care law also collects new revenue to help pay for it, including fees paid by those who don't have insurance and some employers who don't offer coverage, taxes on top earners and provisions meant to slow the growth of Medicare, among other offsets. <\/p>\n<\/p>\n
Read the original:<\/p>\n
PoliGraph: Bills health care law claim leaves out key details<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Posted at 2:00 PM on May 23, 2012 by Catharine Richert (3 Comments) Filed under: PoliGraph Last weekend, Republicans endorsed Rep. Kurt Bills to run against U.S Continue reading