CBO director: healthcare reform will weaken the U.S. economy

Non-partisan Congressional Budget Office director says that the Democratic healthcare reform bill circulating in Congress would create too much debt and would weaken the entire economy.

The healthcare reform bill drafted by House Democrats is not fiscally sound and would weaken the American economy to a significant extent, said the non-partisan Congressional Budget Office director under questioning by members of the Senate Budget Committee. "CBO director Douglas Elmendorf said bills crafted by House leaders and the Senate health committee do not propose 'the sort of fundamental changes that would be necessary to reduce the trajectory of federal health spending by a significant amount,'" reported the Washington Post. "On the contrary," Elmendorf said, "the legislation significantly expands the federal responsibility for health-care costs." President Obama and Democratic leaders have said repeatedly that they intend to reduce the burdensome costs of Medicare and Medicaid, however Mr. Elmendorf plainly disputed this claim. Given the CBO's influence in the matter, Elmendorf's position against the ideas put forth by Obama and House Democrats is certain to dampen the chances of the House healthcare bill's forward momentum. Moderate Democrats in the House have also expressed their displeasure in the current bill. Chairman of the Senate Budget Committee, Kent Conrad, has played a vital role in helping craft a Senate healthcare bill - and he was very direct with Mr. Elmendorf in sharing his concern. "I'm going to really put you on the spot," Conrad told Elmendorf, according to the Washington Post. "From what you have seen from the products of the committees that have reported, do you see a successful effort being mounted to bend the long-term cost curve?" Elmendorf responded: "No, Mr. Chairman."