(Hat tip: Real Clear Politics)
He talked about CBO saying that there would be $54 billion saved each year if we put caps on medical malpractice and put some restrictions — tort reform — $54 billion. Sounds like a lot of money, doesnt it, Mr. President? The answer is yes. But remember, were talking about $2 trillion, $54 billion compared to $2 trillion. You can do the math. We can all do the math. Its a very small percent.
Regardless of the amounts put forth by the Congressional Budget Office, or the other numbers offered by the insurance industry through a PriceWaterhouseCoopers-conducted study, I think the best estimate we can get is through slip-ups like this one by Harry Reid.
Of course health care reform is going to cost more than the $890 billion and change suggested by the CBO, and I even think the insurance report was a low-ball estimate. When has anything done by the federal government ever come in on-budget? These are people that cannot manage the cash flows and expenses of the congressional cafeteria. These are people who pay thousands of dollars for the same kind of toilet seat I have in my bathroom at home. These are people wholly disconnected with reality, both in the sense that they don’t know the people they represent, and in that most of them have never built a successful business or even held down a good job.
That’s why Medicare was, back in 1965, projected to only have a yearly budget of $12 billion in 1991 and instead cost taxpayers $107 billion. That’s why they’ve been far off on everything else. They just don’t know. And when it comes to cost-efficiency and the federal government, it’s best to err on the side of waste.
It seems like Harry Reid has already done that. But, then again, it takes one to know one.