I came across this from many of the medical oriented sites that I frequent. It’s Something that has remained, to my knowledge, out of the main stream media while the AIG diversion is being paraded around. Take a minutes to read the article. Pay close attention to CBO’s report on an estimated Obama budget, it’s shocking. The article also discusses the impact on health care and providers, and while many folks tend to see physicians and rich or well to do, they are taking hits in their income because of this. Medicare reimbursement is already dismal, further cuts only makes things worse. This will affect out healthcare as doctors are forced to see more patients, in less time, and for less money.
Go, go, Obama!
“Irrational exuberance” over the chances for health care reform meet the budget realities.
The House and Senate Budget committees have begun work on the federal budget.
Last week’s CBO report estimated the Obama budget would:
- Produce a nearly $9.3 trillion deficit over the next decade.
- Generate annual budget deficits of nearly $1 trillion in each year from fiscal year 2010 to 2019.
- Increase budget deficits to more than 4% of GDP each year over the next decade.
- Double the national debt to 82% of GDP by 2018 (it was 8% of GDP in 2001).
Still stunned from that report, and under immense pressure from moderates in the Democratic party to cut spending, both the House and Senate Budget chairs have made it clear they intend to reduce the Obama budget and see the Congress proceed with health care reform following the pay-go rules.
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