A trick question: If Congress takes no action in coming years, what will happen to the budget deficit?
It will shrink — and shrink a lot. This simple fact may offer the best hope for deficit reduction.
It’s important to keep perspective. These guys cheered trillions in stimulus, auto bailouts, union bailouts, cash for clunkers, cash for caulkers, etc, etc, etc… Now that it is all over, it is time to do nothing, which actually means doing a lot of something.
One part is increasing taxes, on everyone, even the poor. This is achieved by letting the Bush tax cuts expire.
But the coup de grace is a massive push to put the debt burden onto doctors. You see, a massive cut in Medicare reimbursement rates to the tune of 30% is scheduled for 2012. This cut is so massive, the merely holding the reimbursement constant at 2011 levels costs $300 billion dollars, let alone instigating the “do-nothing” progressive plan which cuts, not holds the 2011 line, reimbursements 30%.
So the progressive solution? Let’s balance reckless progressive spending on doctors.
Oh how the Lefties love this idea. Good thing the AMA backed health reform.