House Democrats’ Health Care Bill: Digging a Deeper Deficit Hole While Missing Opportunities To Crack Down on Waste, Fraud, and Abuse
We know the House Democrats’ health care bill will increase federal spending “significantly.” We know it increases taxes by $820 billion despite an unemployment rate fast approaching 10 percent. We know those taxes will be paid by individuals making as little as $10,000 per year, small businesses, and manufacturers. We also know that over the next 10 years, the House Democrats’ bill will increase the deficit by $239 billion. But there is more, much more. Below is an inside look at two key facts about the Democrats’ health care bill:
- The bill increases the federal deficit by $283 billion in the last five years alone, setting the stage for even higher long-term deficits; and,
- The bill contains ZERO savings from eliminating or even reducing waste, fraud, and abuse. In an attempt to correct this egregious lack of oversight, Ways and Means Republicans offered six amendments during the committee’s markup to reduce wasteful spending – each were rejected by Democrats.
Don’t take our word for it, just look at the costs and savings tables provided by the non-partisan Congressional Budget Office:
DEFICIT INCREASED BY $283 BILLION IN LAST 5 YEARS OF LEGISLATION:
ZERO SAVINGS FROM REDUCING WASTE, FRAUD, OR ABUSE: