Democrats are going around lying about the costs of the health care bill, and the Media does nothing:
In winning Markey’s vote, Pelosi got a helpful assist from the Denver Post, which covered the switch this way: “The announcement by the vulnerable first-term Democrat . . . was seen as a sign that swing lawmakers are being won over by a new Congressional Budget Office analysis showing the bill will slash the deficit over the next two decades by more than $1.2 trillion.” Farther down, the story notes that the CBO analysis “found the bill will cost $940 billion over the next decade, paid for through a combination of costs savings and new taxes.”
But the CBO did not say that the bill would slash the deficit by over $1.2 trillion. The CBO said the bill would reduce the deficit by $138 billion in the first decade. For the second decade, CBO wrote that “CBO does not generally provide cost estimates beyond the 10-year budget projection period,” but that its “rough outlook” put the number “in a broad range between one-quarter percent and one-half percent of gross domestic product (GDP).” CBO also noted that “the imprecision of that calculation reflects the even greater degree of uncertainty that attends to it, compared with CBO’s 10-year budget estimates.” Where did the Democrats get $1.2 trillion? They made it up — and practically every major news outlet in the country reported it as CBO gospel. GDP projections over ten-year windows are fraught with uncertainty, but projections beyond ten years are little better than blind guesses.