Today the House voted for a debt-financed increase in the ceiling on Medicare Part B reimbursements. The impact on long term debt will be disguised by a change in the assumed borrowing for Medicare in 2024. That would be like a person who borrows money to pay for today’s medical bills and then claims that his debt did really rise because he plans to borrow less than needed to pay bills in ten years.
Without this change in law, fees paid to providers for Medicare were due to drop by 24 percent on April 1. That April fool’s joke ought to have fooled no one, but it was part of projections designed to show that deficits were falling rapidly.
The measure passed the House on a voice vote, so there would be no written record of who supported and opposed the measure. For more see my online article today in Washington Monthly. The GOP Debt Dilemma