New Castle News
NEW CASTLE —
Editor, The News:
One big myth about “Obamacare” is that it will raise the national debt by trillions of dollars.
This is completely false. The Congressional Budget Office has said that the deficit will be reduced by $109 billion from 2013 to 2022 if the law stays in effect.
This is because “Obamacare” does raise taxes to pay for the program. For example, couples making more than $250,000 a year will pay a 0.9 percent wage tax. No attempt was made to pay for the Medicare drug plan passed under George Bush. It was estimated to add about $150 billion to our national debt between 2009 and 2011.
Because of the Supreme Court ruling, Medicaid expansion will be optional for the states. Gov. Tom Corbett has fought the law even though it will greatly expand the number of low-income residents covered by the assistance program.
A family of four could be covered to just over $30,000 in income. However, they don’t have to take the coverage. For the first three years, the federal government will reimburse states 100 percent of the cost of expanding coverage beginning in 2014. By 2020, the coverage goes down to 90 percent.
The public should keep in mind that this is a way to help the working poor. These are people who are trying to be responsible citizens but don’t have coverage through their job.
The $700 billion cut in Medicare spending under “Obamacare” will be achieved by paying less to hospitals that aren’t offering quality care to patients and not by cutting individual benefits or doctor’s compensation.
It is estimated that the cuts will extend the solvency of Medicare for about eight years from 2016 to 2024.