Today on MSNBC’s Morning Joe, the show’s economic analyst, Steven Rattner, shared the following chart:

On Rattner’s website, he writes that Graham-Cassidy would “eliminate all funding for the two principal programs in Obamacare” by 2027. His insinuation appears to be that this cliff is built into the bill as a feature, i.e., that Graham-Cassidy, by design, cuts health-care spending by hundreds of billions of dollars after 2026. That’s misleading: Funding does stop after 2026, but that cliff should be understood not as a cut in spending but as a requirement of passing a law via reconciliation. Such a cut would never take place: The political pressure on Congress to fund health care would be too great. This may all be moot, since the bill appears to be on life support, but it’s still worth noting.