Friday, 14 August, 2020

White House attacks CBO health care inaccuracy, misspells 'inaccurately'

Rosalie Gross | 14 July, 2017, 00:35

In a show of support for the Republican-backed health care bill, the White House launched an attack on the Congressional Budget Office. "Almost all of that difference arises because the administration projects higher revenue collections - stemming mainly from a projection of faster economic growth".

President Trump has touted his 2018 budget as a plan that would balance the budget in 10 years and reduce the national debt from 77 percent of GDP to 60 percent.

Trump's budget predicts that the US economy will soon ramp up to annual growth in gross domestic product of 3 percent; CBO's long-term projections predict annual GDP growth averaging 1.9 percent.

Trump's May budget submission proposed jarring, politically unrealistic cuts to the social safety net for the poor and a swath of other domestic programs.

The independent agency, whose financial estimates often shape lawmakers' policy decisions in the USA, said, "The deficits that CBO estimates would occur under the president's proposals are larger than those estimated by the [Trump] administration".

The CBO said did not take into account all of Trump's proposals that may affect the economy because "the details on numerous proposed policies are not available at this time".

'Gangnam Style' is no longer the most-viewed video on YouTube
However, as of July 11, according to a BBC report, the pop song has been overtaken by the heart-warming ballad " See You Again ". For the last five years, the insanely compelling dance video " Gangnam Style " has dominated the YouTube video leaderboards.

"Today's CBO report makes clear just how far the President's budget is from balance", said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, in a statement.

The stakes on completing a budget are high for the Trump administration.

The White House fleshed out its anti-CBO case in a video that contains some very basic errors.

It wasn't. FactCheck.org concluded that despite overestimating the number of people who who get subsidized insurance through ACA exchanges and underestimating the number who would gain coverage through the law's Medicaid expansion, the CBO "actually nailed the overall impact of the law on the uninsured pretty closely".

The Congressional Budget Office said the proposed White House budget would result in a $720 billion deficit at the end of 10 years, not a small surplus as it had estimated.

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