Under this circumstance how do you specifically end funding only for abortion? How can you ensure that money for contraception, education, etc. isn’t still being used for abortion? When Planned Parenthood as an organization has been shown to purposely break the law already how can we know that the tax payer money they would still be getting goes where they say it does?
You are correct that money is fungible. Federal law already prohibits using Medicaid or other federal funds for almost all abortions. As you note, the pea under the shell just gets shuffled and taxpayers still land up paying for abortions.
That’s why the bill congress just passed in January (and which was quickly vetoed by Obama) would have barred the use of Medicaid coverage at Planned Parenthood for any services. Any one of the top 3 Republican contenders would sign that bill.