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January 6, 2011
Paul Ryan: Obamacare Will Increase Budget Deficit by $700 Billion Over 10 Years
Topics: Political News and commentariesIn fact, Ryan not only says that Obamacare will increase the budget deficit by $700 billion in 10 years, he says that the CBO showed Obamacare reducing the debt ... only because "the books have been severely cooked" -- not by the CBO but by the Democrats who wrote the bill:
"CBO has to score what you put in front of them," Ryan explained. "And if you put a bill in front of them that ignores the discretionary cost of the $115 billion you need to spend to run this new Obamacare program, that double counts the Medicare savings, that double counts the CLASS Act revenue, that double counts the Social Security revenue, that does not count the "Doc Fix" -- you add all that stuff up, net it out, we're talking about a $701 billion hole -- deficit."Despite CBO's fairy tale claim based on "cooked books" ... Ryan has pointed out that the CBO score excludes the $115 billion needed to implement the law ... double-counts $521 billion in Social Security payroll taxes, CLASS Act premiums, and Medicare cuts ... strips a costly doc-fix provision that was included in initial score ... measures 10 years of revenues to offset 6 years of new spending ... and even the Administration's own actuaries have said it won't reduce the deficit."So if you actually do real accounting, get away the smoke-and-mirrors, get away the budget gimmicks, this thing is a huge deficit-increaser. And so we're not interested in enshrining, and endorsing, and accepting all the budget gimmicks the Democrats used to cram this thing through [Congress]," Ryan continued. "Mark my words: this thing will not reduce the deficit. I am very confident in saying that. They have a piece of paper from CBO that they contorted to suggest that it does. But that's not reality."
Related: Obamacare's Cooked Books and the "Doc Fix"
Posted by Richard at January 6, 2011 2:01 PM
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