The End Game

The CBO finally released their numbers of the "reconciled" health bill. If any Democrats were wavering, they could just vote for it as the largest deficit reduction bill since the Clinton days. The total bill is $940 billion, which is about 40 more than President Obama promised. So watch this becoming the next burning issue. It reduces the deficit by $130 billion for the first 10 years; and about $1.2 trillion over the second ten. It reduces the growth rate in Medicare by 1.4%, extending the solvency of Medicare by 9 years. It closes the 'donut hole" in Medicare prescription drugs. And it expands health coverage to 32 million more Americans.

The bottom-line for me is that the bill dramatically lowers the possibility that anyone will go bankrupt if something catastrophic happens to them. According to Newsweek, 73% of all bankruptcies in America are the result of medical expenses--and a staggering 86% of these people have health insurance. Oddly enough, both the rich and the poor are currently better off in the health care system than the American Middle Class.

For most of us, the bill really doesn't change our status quo except by providing their deeper security over catastrophic costs. In a few years, it may result in my health insurance premiums being cut in half if I join the "exchange".

Why all this fuss with the CBO? I hope it's for the day if and when Republicans ever get control of a branch in Congress. The Bush Medicare B program didn't bother with CBO estimates and Tom DeLay actually sexually blackmailed a few members to vote for it. End result--a $5 trillion liability. It's also good politics for the Blue Dog Democrats, who always cry about the budget. If anything, people should vote for this as a deficit reduction bill.

Why the GOP resistance to this bill? First, they don't care about deficits unless they can use it to dismantle the social welfare state. Secondly, anything proposed by Barack Obama will be opposed for the rest of his term as has been shown by the New York Times piece on Mitch McConnell's strategy to oppose through procedure everything the administration advocates. Thirdly, this bill is about regulating the health insurance industry. It has nothing to do with government health care which progressive critics have maintained all along. The GOP is committed to blocking the regulation of any sector of the private sector and the banks.

When the dust settles and grandma didn't die at the hands of Rahm Emmanuel's brother, this will go down as another initiative of Barack Obama to save capitalism from itself. In the process, it actually may help millions upon millions of people.