The Rise and Fall of Hope and Change

The Rise and Fall of Hope and Change

Alexis de Toqueville

The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.
Alexis de Tocqueville

The United States Capitol Building

The United States Capitol Building

The Constitutional Convention

The Constitutional Convention

The Continental Congress

The Continental Congress

George Washington at Valley Forge

George Washington at Valley Forge

Friday, March 30, 2012

The Obama Budget’s Hidden Medicare Spending


by J.D. Foster
The Heritage Foundation
March 26, 2012
Backgrounder
The President’s budget perpetuates a misleading portrayal of the true magnitude of federal spending. This is most clearly evident in the figures for Medicare spending, which the Office of Management and Budget reports as $480 billion for 2011—$80 billion less than the figure reported by the Congressional Budget Office. The Office of Management and Budget understates Medicare spending by reporting outlays net of offsetting receipts, instead of using a similar method as the Congressional Budget Office in presenting a full picture of all spending and all receipts. The Obama Administration should break with tradition by clearly showing all spending and receipts in its budget so the American people can properly gauge the width and breadth of government policy and the consequences of upcoming reforms.

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