Friday, December 7, 2012

Obama, Biden Now Sing Different Tune on Medicare 'Cuts' | Reduction

Obama, Biden Now Sing Different Tune on Medicare 'Cuts'

Excerpt:

Democrats have defended the $716 billion in Medicare savings in the health care law by arguing that seniors would not be affected because  the only spending cuts would be in future payments made to Medicare providers — there would be no cuts whatsoever to actual Medicare benefits. But in 2005, then Sens. Joe Biden and Barack Obama had an entirely different view of spending reductions to Medicare providers. First, some context: The $716 billion in Medicare cost savings in the health care law includes $415 billion in reduced future payments to providers (primarily hospitals, Medicare Advantage, home care, and about $20 billion in fraud prevention). These are only “cuts” in the way Washington defines “cuts” — the payments to providers continue to rise, but at a slower rate. Now flashback to 2005.

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