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FBN's Liz MacDonald on the White House's reaction to the new projections on the cost of the health-care law
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-- And there is a new study out.
Showing that president Obama's health care -- could add 340.
Billion to the deficit over the next ten years we'll McDonald joins me on that will lose what does the White House thing about.
This report -- -- saying yet there's hostility to the Reuters saying this is new -- has merit this characterizes the law.
This report comes from the president's own appointee to be trustee of -- Medicare and Social Security system.
And he studied it and he's he's very peaking just as you like -- in your kind of keep to when you read that you panicky then -- -- -- to pull up I.
When -- -- report.
The five -- thirty billion it could cost 530 billion over the next decade and -- of one point two trillion in spending at a White House say wait a second there's all these fees and taxes.
And expanded health insurance coverage that will actually bring the cost of health reform down.
And you know he -- the event protest Prius is citing all of those issues Cheryl.
He's saying -- he's saying look the fees and taxes may not deliver as much as expected.
And that the expanded insurance.
You know basically -- taxpayer funded.
You gonna be funding a lot of health insurance coverage for people are going to be coming in to the health insurance exchanges and you know he's saying very practically says.
If the health reform bill is going to make Medicare solvent does the president is saying.
Doesn't that mean -- deficit spending -- and it's something solvent means more deficit spending to make -- -- And so the president -- saying look it will save a trillion dollars in the second decade efforts -- -- You know -- and this is -- real blow to the credibility of health.
Reform I heard the president -- -- -- even looking at the story of many stories for for years now but.
The president basically give us a good reason as to why costs are not gonna be more controlled.
Under the yet doesn't you know that's the key and that's what the -- -- this report.
Essentially if you have more people.
Good buying insurance somehow that's going to drive costs down.
The math doesn't square according to write in public trustees -- well you know look at what we cover the department sector for example on Fox Business but.
What I think many people that -- to realize is the cost.
A drug development RNC the millions of these companies are putting it -- -- -- the diseases that afflict us at the same time.
Those those medications cost money.
This cost rising along with.
The emergency -- situation yeah I tried to address is an interesting thing because you know Americans like fast food health care we like it now the -- -- it recently held the rate of growth has come down to about 4%.
But even the CBO -- saying look those wanting to 820 million people knocked off of employee you're paying for insurance and put into the health exchanges which is funded by Medicaid and taxpayer -- spending it is not -- -- -- most businesses from knocking people on the extinctions and that's your point right and that's I -- -- penalty and ended up -- -- -- -- -- that the -- anyway let's look now thank you very much along -- lots of -- and it was.
