Michael Steele Blatantly Lies, Says Health Care Bill Would Cost $1 Trillion PER YEAR
On December 18, 2009, the blog Right Wing News published an interview with Republican National Committee Chairman Michael Steele. During the interview, Steele made the outrageous claim that health care reform is "going to cost us over a trillion dollars a year to do it." In reality, the Congressional Budget Office estimated the Senate bill would cost $848 billion over 10 years, while lowering the deficit by $130 billion.
Michael Steele's Lie: "Over A Trillion Dollars A Year"
RNC Chairman Michael Steele:
Call it what it is. This is a takeover by the federal government of health care. OK, that's number one. Number two, it's going to cost us over a trillion dollars a year to do it. [Right Wing News, 12/18/09; Republican National Committee, 12/18/09]
In Reality, The Bills All Cost Less Than $100 Billion Per Year, While Lowering The Deficit
CBO: Over Ten Years, The Senate Bill Will Cost $848 Billion. According to the Congressional Budget Office, "[t]hat net cost itself reflects a gross total of $848 billion in subsidies provided through the exchanges, 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 $149 billion in revenues from the excise tax on high-premium insurance plans and $100 billion in net savings from other sources." [CBO, 11/18/09]
- CBO: Over Ten Years, The Senate Bill Will Reduce The Deficit By $130 Billion. According to the Congressional Budget Office, "enacting the Patient Protection and Affordable Care Act would result in a net reduction in federal budget deficits of $130 billion over the 2010-2019 period (see Table 1). In the subsequent decade, the collective effect of its provisions would probably be small reductions in federal budget deficits if all of the provisions continued to be fully implemented." [CBO, 11/18/09]
CBO: House 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]
