CBO Says Obamacare will save no money over 10 years

Do you think that maybe NOW Obama will understand why the blue dogs revolted?

For the second time this month, congressional budget analysts have dealt a blow to the Democrat’s health reform efforts, this time by saying a plan touted by the White House as crucial to paying for the bill would actually save almost no money over 10 years.

A key House chairman and moderate House Democrats on Tuesday agreed to a White House-backed proposal that would give an outside panel the power to make cuts to government-financed health care programs. White House budget director Peter Orszag declared the plan “probably the most important piece that can be added” to the House’s health care reform legislation.

But on Saturday, the Congressional Budget Office said the proposal to give an independent panel the power to keep Medicare spending in check would only save about $2 billion over 10 years- a drop in the bucket compared to the bill’s $1 trillion price tag.

“In CBO’s judgment, the probability is high that no savings would be realized … but there is also a chance that substantial savings might be realized. Looking beyond the 10-year budget window, CBO expects that this proposal would generate larger but still modest savings on the same probabilistic basis,” CBO Director Douglas Elmendorf wrote in a letter to House Majority Leader Steny Hoyer on Saturday.

via CBO deals new blow to health plan – Chris Frates – POLITICO.com.

The Blue Dog Democrats revolted on this stupid plan, because they know; what the majority of clear-thinking Americans know. That the Nation’s Economy is in the Toilet and is not expected not to get any better anytime soon. The passing of this Health-care Bill and the Nationalization of our Health-care system is going to sooner or later drive America into Bankruptcy.  The Blue Dog Democrats know this, they are not under the spell of hope and change, like Obama wants them to be. In other words, they are not drinking the Kool-Aid on the Obamassiah.

One trillion dollars and The economy is at it worst since the 1980’s? Is this President serious?

I think the President and the Democratic Party need to seriously reconsider what they are attempting to do here. Because if they do not, this country may just end with a one party system after the damage is all done. Some Republicans might be thrilled at the prospect of the total and complete destruction of the Democratic Party; but I would not be thrilled at all. Why?

I will tell you why, because, like Bill O’Reilly; believe that a two-party system in this Country is important. I believe, personally, that neither of these parties; Republican Party or The Democratic Party have all of the answers. There is good and bad in both of them, and because of this, I believe that the Democratic Party is about to do one of the stupidest an horrific overreaches in many years. It was attempted in Clinton Administration and it failed, and now it is about to be attempted again.  This time, it will be a disaster.

Somebody up there on Capital Hill needs have some clear thinking and really seriously consider what might become of the Democratic Party, should this blow up in their faces. Because I have a feeling that this all is going to get much uglier, before it gets any better.

Others: RedState, Weekly Standard, theblogprof, Betsy’s Page, Cold Fury, Economix, PrairiePundit, Hot Air and The Hill