The Obama Administration has introduced its pay-go proposals for reducing the budget deficit, but undermines them with its treatment of health care reform:
President Barack Obama on Tuesday proposed budget rules that would allow Congress to borrow tens of billions of dollars and put the nation deeper in debt to jump-start the administration’s emerging health care overhaul.
The “pay-as-you-go” budget formula plan is significantly weaker than a proposal Obama issued with little fanfare last month.
It would carve out about $2.5 trillion worth of exemptions for Obama’s priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits.
Here’s what makes things worse: Not only is the Administration allowing health care reform “to run big deficits,” but health care reform won’t save nearly as much money as the Administration claims it will. We are rushing a reform package through in order to prevent the public from paying attention to this fact–and potentially slowing down health care reform as a consequence. And the Congressional Budget Office is being dishonest in scoring the reform package.
Among other quarters, alarm bells ought to be ringing in the halls of the mainstream media. Just when do they propose to pay attention to the impending fiscal disaster brought about by the Obama Administration’s health care proposals?