we have all done it. We all make mistakes. They are unavoidable. Yesterday we learned that the White House budget made a tiny little mistake, a $750 billion ``rounding error.'' According to the President's budget, the new Medicare prescription drug benefit is now going to cost the taxpayers $1.2 trillion, not the $400 billion they told us just last year. That is quite a difference from last year when the White House budget director, the man responsible for the money, assured everybody, ``The Congressional Budget Office estimate for the prescription drug bill was and remains $395 billion.'' And lest we forget, last year during debate on the Medicare benefit, our distinguished colleague, the gentlewoman from Connecticut (Mrs. Johnson), chairman of a House subcommittee on Ways and Means, ``I am pleased that the President has proposed to strengthen Medicare with a $400 billion plan which adds prescription drug coverage.'' Well, the joke is on the taxpayers and the senior citizens of America. Rather than funding $400 billion, it is a $1.2 trillion ``rounding error.'' What is worse, this mammoth new program does nothing to reduce the cost of prescription drugs. We need reimportation legislation to deal with the affordability and cost of prescription drugs. These are the same individuals who are now trying to sell Americans on their fix for Social Security.
Editor's note · Context
Addressing the budgetary implications of the Medicare prescription drug benefit.
Share
More from Rep. Rahm Emanuel
I rise today in honor of the passage of the Americans with Disabilities Act of 1990 and to express my support for the ADA Amendments Act of 2008. As a member of the 110th Congress, I am proud to be a cosponsor of H.R. 3195, the ADA…
to pick up on my colleague's comments about fairness, one of the provisions in this legislation deals with closing the loophole for KBR, a former Halliburton subsidiary, that used the Cayman Islands to avoid paying taxes. And that is, it…
the previous days have offered a series of reports on conditions in Iraq. These reports have been consistent: Iraq remains dangerous, unstable, and political progress is virtually nonexistent. It wasn't supposed to be this way. The…
this week, or just today, rather, it was found out, we discovered and it was reported, that the United States is running a $176 billion deficit in February alone. Earlier this week, we also found out that the Iraqis have a surplus of over…





