Keith Hennessey does an excellent job of summing up the recent remarks from CBO Director Doug Elmendorf, who recently posted the slides from a presentation he gave to the Institutes of Medicine. This presentation essentially rolls back everything the President and Peter Orszag claimed in the run up to the passage of this legislation. Read the whole thing, but the concluding quote is just jarring:
Putting the federal budget on a sustainable path would almost certainly require a significant reduction in the growth of federal health spending relative to current law (including this year’s health legislation).
As Hennessey puts it: “Never before have I seen a CBO Director so bluntly refute the policy claims of a President and his Budget Director.”
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