Oct 08, 2011 5:38 PM GMT
Associated Press saidThey're calling it the zombie in the budget.
It's a long-term care plan the Obama administration has put on hold, fearing it could go bust if actually implemented. Yet while the program exists on paper, monthly premiums the government may never collect count as reducing federal deficits.
Real or not, that's $ billion over the next 10 years.
"It's a gimmick that produces phantom savings," said Robert Bixby, executive director of the Concord Coalition, a nonpartisan group that advocates deficit control..
"That money should have never been counted as deficit reduction because it was supposed to be set aside to pay for benefits," Bixby added. "The fact that they're not actually doing anything with the program sort of compounds the gimmick."
Let us remember how much "savings" $80 billion from a benefits program is compared to a $14 Trillion deficit from discretionary spending.