"A plan to slash more than $500 billion from future Medicare spending — one of the biggest sources of funding for President Obama's proposed overhaul of the nation's health-care system — would sharply reduce benefits for some senior citizens and could jeopardize access to care for millions of others, according to a government evaluation released Saturday.
The report, requested by House Republicans, found that Medicare cuts contained in the health package approved by the House on Nov. 7 are likely to prove so costly to hospitals and nursing homes that they could stop taking Medicare altogether.
Congress could intervene to avoid such an outcome, but "so doing would likely result in significantly smaller actual savings" than is currently projected, according to the analysis by the chief actuary for the agency that administers Medicare and Medicaid.
That would wipe out a big chunk of the financing for the health-care reform package, which is projected to cost $1.05 trillion over the next decade.
Additionally the Hill reports that the legislation would increase the cost of healthcare, not decrease it and balloon the already ballooning deficit.
Wanna bet that there are more than a few in congress who voted "yes" want that vote back in time for 2010?
November 15, 2009
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Healthcare
,
Obamacare
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