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Remarkably, at a time when there is so much critical unfinished work facing Congress and so little is getting done, and with Main Street hurting while Wall Street prospers, the House Majority spent today passing legislation to create a special exemption from federal disclosure requirements under Dodd-Frank for private equity fund managers (i.e., Bain Capital). I voted “no.” At least we know House Republicans can move quickly when they are properly motivated. If only they cared as much about immigration reform, gun violence, ENDA, or extending unemployment benefits that are set to expire this month.
Despite the botched rollout of the federal website, there is good news emerging from the Affordable Care Act including, at long last, declining healthcare costs and for those who care about the deficit and debt, hundreds of billions in savings for taxpayers. As this article points out, “Already, the Congressional Budget Office has quietly erased hundreds of billions of dollars from its projections. It now estimates that Medicare spending in 2020 will be $137 billion lower than it thought in 2010, a drop of 15 percent; Medicaid spending will be $85 billion, or 16 percent, lower; and private health insurance premiums are expected to be about 9 percent lower. ”
A slowing trend in health care spending has lowered the law’s price by billions, and future cost controls may save billions more.