Saturday, April 24, 2010
Report: Health overhaul will increase USA's tab
WASHINGTON (AP) — President Obama's health care overhaul law will increase the nation's health care tab instead of bringing costs down, government economic forecasters concluded Thursday in a sobering assessment of the sweeping legislation.
A report by economic experts at the Health and Human Services Department said the health care remake will achieve Obama's aim of expanding health insurance — adding 34 million Americans to the coverage rolls.
But the analysis also found that the law falls short of the president's twin goal of controlling runaway costs. It also warned that Medicare cuts may be unrealistic and unsustainable, driving about 15% of hospitals into the red and "possibly jeopardizing access" to care for seniors.
The mixed verdict for Obama's signature issue is the first comprehensive look by neutral experts.
In particular, the warnings about Medicare could become a major political liability for Democratic lawmakers in the midterm elections. Seniors are more likely to vote than younger people and polls show they are already deeply skeptical of the law....