Guess what? The cost-savings idea that was supposed to rescue ObamaCare barely saves any costs — at least that can be scored by CBO. (Obama better give Elmendorf another talking to — pronto.) Here’s the AP on the CBO’s evaluation of the MedPac proposal:
congressional budget scorekeepers say one highly touted idea for saving money from Medicare to finance a health overhaul would only yield modest savings. In a setback for Obama, the Congressional Budget Office says that creating a powerful commission to recommend Medicare cuts would produce only about $2 billion in savings over 10 years. Cuts the commission agreed on would go into effect unless Congress overrides them.
Here’s Elmendorf’s letter.
UPDATE: Sorry, Yuval beat me to it. What he said . . .