CNSNews.com - Obama’s Budget Claims $622 Billion in Health Care Savings But Doesn’t Count Cost of Health Care Reform

CNSNews.com - Obama’s Budget Claims $622 Billion in Health Care Savings But Doesn’t Count Cost of Health Care Reform: "(CNSNews.com) – President Barack Obama’s mid-year budget update, which anticipates $9.05 trillion in cumulative deficits over 10 years, includes $622 billion in purported health care “savings” that the administration claims will go toward offsetting the cost of its government-oriented health reform plans. The budget update leaves out, however, any estimate of how much those reforms might cost.

The new, updated budget review includes new estimates about how much the administration thinks it will save taxpayers by making various cuts and reforms to Medicare and Medicaid.

“[T]his Mid-Session Review now identifies a total of $622 billion in savings over 10 years in Medicare and Medicaid,” the report states. “This brings the Health Reserve Fund total to $954 billion over 10 years.”

The total – the additional $332 billion needed to attain $954 billion -- would come from tax increases on philanthropic and other tax-deductible giving and higher estate or “death” tax rates, states the report."