The Congressional Budget Office announced on Monday that the Affordable Care Act will cost $142 billion, or 11 percent, less over the next 10 years, compared to what the agency had projected in January...So let's review all the GOP predictions about Obamacare that were proven wrong in that statement.
In revising their estimates, the agency noted two trends.
The first is the relatively modest increase in how much private insurance companies spend on their policyholders' health care. Between 1998 and 2005, spending on health care increased by an average of 5 percent per year, adjusting for inflation and demographics. That figure fell to 1.8 percent per year for the period from 2006 to 2013, the latest year for which data are available.
The administration has said that this decline in spending on medical care is at least partly a result of cost-saving measures in the Affordable Care Act. Critics have argued on the contrary that the decline was due to the recession, and that health care costs could begin to rise again. Independent experts have suggested that much of the effect is due to the weak economy, but not all of it.
The CBO had previously expected that the pace of increasing spending would rise fast again, but now they predict that "such a bounce back seems less likely in light of the further slowing of spending growth observed in the most recent data."
The agency also revised their estimates in response to new data on who was insured and how before the law took effect.
They concluded that fewer people were employed by firms that might stop offering coverage as a result of the law's passage, since their employees are now able to buy coverage individually through the exchanges. And they realized that fewer people were uninsured to begin with than they had thought.
As a result, fewer people will need to purchase insurance through the exchanges or need federal help to do so.
President Barack Obama's fiscal 2016 budget proposal would shrink U.S. deficits by $1.232 trillion over 10 years compared to those expected under current tax and spending laws, the Congressional Budget Office said on Thursday.Huh, smarter health care policy, fewer wars, and higher taxes on the wealthy end up reducing the deficit better than the GOP's "trickle-down and spend on war" policies. Imagine that!
The deficit reduction, although smaller than that claimed by the White House, is largely due to Obama's proposals for higher taxes on the wealthy, his plans for lower spending on military operations in Afghanistan and net savings from proposed immigration reforms, the CBO said.
For fiscal 2016, the first full year under Obama's fiscal blueprint if Congress were to adopt it, the deficit would fall to $380 billion from $455 billion, the CBO's latest forecast under current laws.
The co-chairs of the state's budget-writing Joint Committee on Finance, State Senator Alberta Darling (R-River Hills) and State Representative John Nygren (R-Marinette), issued the following statement regarding the Legislative Fiscal Bureau memo on the projected general fund balance in Governor Walker's proposed budget for the 2015-17 biennium:And if you look at the budget figures, what they're saying is true on the surface- Walker's budget numbers do add up on paper.
"Governor Walker's proposed budget keeps our finances in the black, end of story. The non-partisan Legislative Fiscal Bureau confirms the gross general fund balance of the governor's 2015-17 budget bill would be $123 million with a net balance of $58 million. This is a far cry from the supposed $2 billion deficit Wisconsin Democrats have repeated many times.
"Governor Walker's budget plan provides a solid fiscal starting point as we begin the budget process in the Legislature. The numbers don't lie. We are proud our reforms are working. Wisconsin is on the path to economic success and prosperity, and we're looking forward to using the governor's budget as a base to continue our common sense reforms."
On November 20, 2014, the Department of Administration submitted the statutorily required report to the Governor and the Legislature on the 2015-17 condition of the general fund based on the administration's revenue estimates and state agency budget requests. That report showed a gross general fund balance of -2,149.1 million and a net balance (after consideration of the $65 million statutory reserve) of $2,214.1 million.But the fact that Darling and Nygren are trying to spin that Walker's "balanced" budget is somehow OK is laughable (as laughable as the scenario that they claimed a $535 million surplus off of last September), and a sign that voters aren't buying what WisGOP has been selling in recent months.
Under the Governor's 2015-17 budget bill, the gross general fund balance would be $123.0 million and the net balance would be $58 million.
PPP's newest Wisconsin poll finds that Scott Walker's recent actions have significantly increased enthusiasm among Republicans in the state for his White House bid- but also left him well behind Hillary Clinton in a potential general election match up.The same poll asked respondents who they'd vote for in a presidential election between Walker and Hillary Clinton, and Clinton leads 52/43 in a hypothetical contest. Walker also trails Joe Biden and Elizabeth Warren, albeit by only 3 points each (48-45 against both).
Overall only 35% of voters in Wisconsin want Walker to run for President, compared to 58% who don't think he should run. Those findings are pretty much par for the course for a Presidential candidate in their own state- voters are rarely enthusiastic about their native sons aiming for the White House.
Walker's approval numbers have also significantly dipped over the last few months though. Right before the election last fall we found him with a 49/47 approval spread. That's now dropped to 43/52. His numbers with both Democrats and Republicans are pretty much where they were four months ago. But he's seen a large decline with independents- where he was on narrowly positive ground with them before the election at a 48/45 spread, he's now dropped down to 36/57. The new right to work law is likely part of what's causing Walker problems- only 42% of voters support it, pretty much mirroring his approval rating.
Clinton is strong against the entire Republican field in Wisconsin. There's not much evidence from anything in this poll that she's facing any real backlash over the controversy related to her e-mails. The GOP hopeful who comes closest to Clinton in the state is Rand Paul who's still 6 points behind at 48/42. Mike Huckabee trails by 7 at 47/40, Rick Perry and Marco Rubio lag by 8 at 48/40, Chris Christie joins Walker in being down by 9 at 48/39, Jeb Bush and Ted Cruz have a 10 point deficit at 49/39, and Ben Carson's 11 point gap is the greatest at 49/38.What this tells you is that more voters asked in the poll weren't sure about what to think of a matchup with Clinton among other potential GOP candidates, but many more DO know Scott Walker, and they don't want to vote for him.
