After months of bickering, it looked like the Congressional vote on the Obama-esque healthcare reform package was too close to call. Democrats have been questioning members of their own party to vote with them for weeks.
The Congressional Budget Office gave the Democrats the broadsword that they’ve needed. A number of media outlets report that a CBO analysis of the reform package determined it will cost $940 billion over the next decade and reduce the deficit by $130 billion during that period. From 2020 to 2029, the program will supposedly reduce the deficit by $1.2 trillion. The legislation will cover 32 million Americans, about nine out of ten Americans who do not have insurance.
Forecasts that cover a period of ten years are very unreliable. Even predictions a year in advance can differ dramatically from reality, especially when they involve the economy. In 2006, housing prices were supposed to rise 20% a year without fail.
The CBO analysis may be off by an unimaginable amount, but it will not matter much today. The Democrats have fought for healthcare reform for a year. It appeared that they only need one event to tip the scales in their direction, and they have gotten it.
-Douglas A. McIntyre