Hey! Start reading!

The House Rules Committee has released a 153 page PDF file that you can download. (H.R. 4872 – Reconciliation Act of 2010). You only have 72 hours before the vote! But you can’t really just read those 153 pages. You will also need the original Senate bill and the CBO‘s analysis to see what changes are made. It of course references hundreds of other legislative laws.

Cost? $940 billion over 10 years but according to the CBO it cuts the deficit by $138 billion during the decade. Who wants to spend $9.40 to save $1.38? But in the next decade, it would reduce the deficit by $1.2 trillion. That doesn’t offset the $7.6 billion borrowed over the next decade (see 2011 budget below). Plus according to Steven Malanga of the Manhattan Institute, experts estimate that “abuses of Medicaid (alone) eat up at least 10 percent of the program’s total cost nationwide – a waste of $30 billion a year. So just cutting Medicaid fraud would save $300 billion and you could spend $162 billion to get the same amount of savings.

With those numbers, you don’t have to read anything. No matter how you spin this, it is bad legislation. KILL THE BILL!

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