Misleading Accounting For ObamaCare Comes To Light
As a follow up to the Kathleen Sebelius story, more unfolds as information is released.
It was only a few minutes in the making but comments last week by Health and Human Services Secretary Kathleen Sebelius on Capitol Hill have set off a firestorm of criticism around President Obama’s health care law and how the law, when it’s finally implemented, will have “double counted” on Medicare -- and, therefore, does not have the savings once predicted by the White House.
“The Affordable Care Act adds 12 years to the Medicare trust fund, according to every actuary, and the $500 billion represents a slowdown in the growth rate of Medicare over 10 years from what was projected at 8 percent to a growth rate,” Sebelius said during questioning by Rep. John Shimkus, R-Ill.
But, as Shimkus pushed the issue, asking for Sebelius to explain if the president was using the $500 billion to save Medicare or fund health care reform, Sebelius added one word – “both.” And that word has made many more nervous than ever about the health care law, as they say it sounds like double counting, or using money from one program to count into another, which does not equal savings.
As previously reported by Fox News, more than half the total financing for the health care reform legislation comes from the $500 billion in cuts to the entitlement program. But since the White House began its health care sell, critics have said the president is misleading Americans, because the “cuts” actually are set aside to pay for other programs.