December 23, 2009
The key point is that the savings to the HI trust fund under the PPACA would be received by the government only once, so they cannot be set aside to pay for future Medicare spending and, at the same time, pay for current spending on other parts of the legislation or on other programs. Trust fund accounting shows the magnitude of the savings within the trust fund, and those savings indeed improve the solvency of that fund; however, that accounting ignores the burden that would be faced by the rest of the government later in redeeming the bonds held by the trust fund. Unified budget accounting shows that the majority of the HI trust fund savings would be used to pay for other spending under the PPACA and would not enhance the ability of the government to redeem the bonds credited to the trust fund to pay for future Medicare benefits. To describe the full amount of HI trust fund savings as both improving the government’s ability to pay future Medicare benefits and financing new spending outside of Medicare would essentially double-count a large share of those savings and thus overstate the improvement in the government’s fiscal position.
Fuck this. Fuck this with the Sarbanes-Oxley Code Soaked In Government Grade "Fuck You". In my line of work, and with the numbers I have to deal with, this would be called fraud or criminal negligence. People in the "real world" would go to jail for this. But in Obamaland? You get a school named after you in Nebraska.
If this was intentional, then people need to fucking go to jail. If it was an accident, then people need to get fired and serve me my next pizza.
Fuck you, Congress. Fuck you forever.
Thanks to Alice
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