Rep. Cantor Lies, Says Democratic Proposal Increases Deficit
During the November 7, 2009 floor debate over health care reform, House Minority Whip Eric Cantor falsely stated the Democratic proposal would "blow a hole in the deficit." In reality, the Congressional Budget Office said the bill would decrease the federal deficit by $109 billion.
Rep. Cantor Repeats False Attack On Democratic Reform Bill
Rep. Eric Cantor:
Their bill blows a hole in the deficit, ours actually saves money. [Cantor Floor Speech, 11/7/09]
The Democratic Bill Slashes The Deficit By $109 Billion
CBO: Democratic Bill Would Cost $1 Trillion, Cut Deficit By $109 Billion. According to the Congressional Budget Office's analysis of the Democratic health care plan:
Reflecting the change noted above, CBO and the staff of JCT now estimate that, on balance, the direct spending and revenue effects of enacting H.R. 3962, incorporating the manager's amendment, would yield a net reduction in federal budget deficits of $109 billion over the 2010-2019 period.
[...]
The estimate includes a projected net cost of $891 billion over 10 years for the proposed expansions in insurance coverage. That net cost itself reflects a gross total of $1,052 billion in subsidies provided through the exchanges (and related spending), increased net outlays for Medicaid and the Children's Health Insurance Program (CHIP), and tax credits for small employers; those costs are partly offset by $167 billion in collections of penalties paid by individuals and employers. [CBO, 11/6/09; emphasis added]
The Democratic Bill "Covers 12 Times As Many People And Saves $36 Billion More Than The Republican Plan." The Washington Post's Ezra Klein wrote: "According to CBO, the GOP's alternative will shave $68 billion off the deficit in the next 10 years. The Democrats, CBO says, will slice $104 billion off the deficit. The Democratic bill, in other words, covers 12 times as many people and saves $36 billion more than the Republican plan." [Washington Post, 11/5/09]
