Rep. Cantor Praised The CBO Last Week, Now Says It's "Losing Its Credibility"

June 24, 2009 3:02 pm ET

Last week, Rep. Eric Cantor (R-VA) treated the CBO's analysis as gospel, calling its preliminary report on health care reform "the turning point in the healthcare debate." However, now that the CBO says the American Clean Energy and Security Act will only cost the average family a postage stamp per day, Rep. Cantor claims the CBO has "entered the realm of losing its credibility."

On June 16, Rep. Cantor Treated The CBO's Health Care Analysis As Gospel

Rep. Cantor Said The CBO Analysis Was "The Turning Point In The Healthcare Debate." On June 16, 2009, Rep. Cantor said: "In following up on the Leader's statements about Republican efforts to try and make sure that we accomplish healthcare reform, I think the news yesterday from the CBO is the turning point in the healthcare debate so that we will be able to put some reason back into the discussion here and be able to produce for the middle-class families in this country. When CBO says, number one, we're going to be spending $1 trillion - and that is a down payment on the cost of this healthcare reform - it is troubling when we're trying to save money that we would be calling for that kind of expenditure. Number two, when CBO says that about a third of the uninsured is what will be insured under this bill, leaving two-thirds uninsured still without coverage, certainly doesn't reach the mark that we're trying to accomplish." [, 6/16/09; emphasis added]

On June 24, Rep. Cantor Said The CBO Is "Losing Its Credibility"

Rep. Cantor Said "I Think That Now The CBO Has Now Entered The Realm Of Losing Its Credibility." On June 24, 2009, Rep. Cantor said: "When we look at the impact of this bill on American families, what we see is a job killer. There are studies out there that have indicated - on the one hand the MIT study says it's $3,000 cost to a family of four as a result of this cap and trade bill. There are others, the CBO study that was out as recently as last week, which said that there is a $1,600 plus impact cost on a family of four.  Today, now we are reading the reports that have come out this week that CBO has now reduced its cost estimate to say that it is only $160 that families will be impacted by the cap and trade bill.  I think that now CBO has now entered the realm of losing its credibility." [Cantor Statement, 6/24/09; emphasis added]

After witnessing this quick change of heart, it seems Rep. Cantor is the one losing his credibility.