WASHINGTONU.S. Sen. John Cornyn R-Texas a member of the Senate Finance Committee today issued the following statement after CMS Chief Actuary Rick Foster released his analysis of the latest version of the Reid health care bill last night:
Democrats have refused to believe me and my colleagues when we told them that the monstrous 2074 page $2.5 trillion Reid health care bill would increase premiums raise taxes and cut Medicare. They have ignored non-partisan CBO analyses that stated the same thing. The repeated calls in opposition from the American people have fallen on Democrats deaf ears" Sen. Cornyn said.
Now we have President Obamas own independent actuary not only confirming these findings but also concluding that the Reid bill would actually drive up this countrys unsustainable level of health care spending. Its time for Democrats to take their heads out of the sand and face the fact that the Reid bill is bad for America. Its time to start over craft a truly bi-partisan bill that lowers costs for American families businesses and taxpayers" Sen. Cornyn added.
Sen. Cornyn has an amendment that would ensure that health care reform actually does drive the cost curve down. It states: If the Office of the Actuary at the Center for Medicare and Medicaid Services (OACT) cannot certify that Reid bill bends the cost curve of National Health Expenditures the bill would not go into effect."
More information on this amendment is below:
Cornyn Amendment #2806
Purpose
America spends nearly double what other industrialized nations spend on health care which threatens our international competitiveness. A stated goal of health care reform has been to bend the cost curve" and the Cornyn amendment ensures that happens. If the Office of the Actuary at the Center for Medicare and Medicaid Services (OACT) cannot certify that the Reid bill bends the cost curve" of National Health Expenditures the bill would not go into effect.
Amendment Background
According to the Congressional Budget Office (CBO) the United States will spend nearly 17 percent of our economy on health carean increase from about 8 percent in 1975.
- According to the Organization for Economic Co-operation and Development 17 percent is substantially more than the average health care expenditures of 9 percent in other developed countries.
- Private health insurance premiums have more than doubled over the last 10 years for American families.
- Without action CBO estimates that taxpayer spending on government health care programs Medicare and Medicaid will rise to 12 percent of our economy by 2050.
Unfortunately the Reid bill doesnt bend the cost curve in the right direction." Rather the Reid bill will increase national health care spending for American families and taxpayers.
- According to the Obama Administrations Chief Actuary In aggregate we estimate that for calendar years 2010 through 2019 National Health Expenditures would increase by $234 billion…"
- According to CBO the Reid bill would increase premiums by $2100 for American families purchasing insurance on their own.
According to CBO Federal outlays for health care would increase… about $160 billion over 10 years…"
- According to the Dean of the Harvard Medical School In discussions with dozens of health-care leaders and economists I find near unanimity of opinion that whatever its shape the final legislation that will emerge from Congress will markedly accelerate national health-care spending rather than restrain it."
- According to the Wall Street Journal This is the paleoliberal school of brute-force wealth redistribution and a very long way from the repeated White House claims that reform is all about bending the cost curve. The only thing being bent here is the budget truth."
Advocates of the Reid health bill continue to promise that it will lower health care costs and the Cornyn amendment applies the truth test of Obama Administrations own independent actuary.
