President Obama stated on February 7, 2010, ``If we can start bending the cost curve on health care, that's the most important thing we can do to deal with the deficits long term.'' Well, we always agreed that he was bending the cost curve. But our position was that it wasn't being bent down; it was being bent up. The chief actuary of CMS, Mr. Foster's, report supports this and states that health care costs will accelerate by over $300 billion because of this bill. The health reform law will not extend the life of our entitlement programs, because severe cuts to the programs are used not to strengthen Medicare but, rather, to finance other outlays. And Medicare cuts could lead to providers ending their participation in the program. This is not Republicans. This is the chief actuary of CMS who is saying this bill is a dog, and we'd better redo it because it's going to raise costs and decrease benefits. There is an old saying, If you broke it, you have to keep it. We just broke health care in America.
Editor's note · Context
The speaker critiques the impact of health care reform on costs and Medicare.
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