The Cato Institute on Baucuscare

In the last post I noted that Megan McCardle was having difficulty making sense of the CBO estimates of Baucuscare. Cato points out that that is because the numbers don’t make sense.

The Real Cost of the Baucus Bill: $2 Trillion+

The CBO scoring makes it clear that the Baucus bill’s reduction in future budget deficits comes not from controlling government spending or reducing health care costs, but because of a rapid escalation in tax revenues

…its individual mandate pushes more than half of the legislation’s cost off-budget, and onto businesses and individuals who will have to shoulder that burden.

Read the whole thing.