Keyword: accountinggimmicks
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The Florida Department of Health on Sunday reported 15,299 new Wuhan coronavirus cases. This is the largest number of cases reported in a single day. The record was previously held by New York when they reported 12,274 new cases, TIME reported. The reason Florida saw an uptick in positive cases is because they also had a record-breaking number of tests that were conducted. The state currently has 269,811 positive infections. In total, 18,271 people were hospitalized as a result of the virus. As of now, 2,576,813 people have been tested for the Wuhan coronavirus. That puts the Sunshine State's infection...
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I just love Washington-speak which offers heartfelt phrases such as “baseline spending,” “debt ceiling,” “drop dead dates,” and my ultimate favorites, “the cut,” “to cut,” “a cut,” or just simply “cuts.” Like the phrase “beauty is in the eye of the beholder,” a “cut” means different things to different people. Let me explain by first discussing common-speak, which is very easy to understand. When someone takes a cut in pay, it could mean going from $20 per hour to $15 per hour. Or, they’re paid $30,000 per year for a job that used to pay $35,000 per year. To most...
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Responding to an inquiry from Rep. Paul Ryan, the Congressional Budget Office has confirmed that when you remove certain accounting gimmicks from the Democrats' health care legislation, it actually increases the deficit. Democrats have touted a CBO report that found that their health care bill would reduce the deficit by $138 billion from 2010 to 2019. But that number assumes that hundreds of billions of dollars in Medicare cuts would be used to pay for the new health care entitlement. In a letter to Ryan, the CBO estimates that if the Medicare cuts were used to help shore up the...
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The Democrats' health-care express is on the move again -- too quickly for Americans to absorb the long-term implications of its potentially devastating impact on the US economy. Senate Majority Leader Harry Reid unveiled his latest bill Wednesday, complete with a Congressional Budget Office analysis suggesting it would cost $849 billion over 10 years -- well below the president's $900 billion ceiling. In fact, the actual cost of the Reid bill is three times that figure. Yet Reid aims to push through a critical procedural vote on the bill this weekend, which will demonstrate whether he has the 60-vote "supermajority"...
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Just in time for Thanksgiv ing, Sen. Harry Reid has given us a giant turkey of a health-care bill. At 2,074 pages and more than 370,000 words, it's officially "scored" as costing $849 billion over 10 years -- $400 million per page, or $2.3 million per word. But that doesn't come close to measuring its true cost. The bill uses various accounting gimmicks to hide its true cost. For example the bill doesn't include more than $200 billion needed to prevent a 21 percent cut in Medicare next year. [The CBO "score" actually assumes Reid cuts Medicare 23 percent --...
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PHILLIP BROWNLEE: CAN I TRY SOME 'CREATIVE ACCOUNTING'? Imagine if you or I could handle our personal finances the same way the Kansas Legislature deals with its money problems."Sorry, electric company, but I've decided not to pay my bill until next fiscal year.""Yes, mortgage company, I promised to repay my home loan, but I've changed my mind -- and there's nothing you can do about it.""Too bad, business customer. You overpaid me, but I'm going to wait two months before refunding your money."The possibilities are endless. Or so it seems in Topeka.Consider some of the "creative" ways the state has...
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