The administration sold Obamacare as a deficit-reduction bill. But as I blogged then, the savings were based on the dubious assumption that Medicare spending would be cut. Such cuts had been promised by Congress, but then Congress voted to ignore them, year after year, since 2003.
Yesterday, surprise! The House voted 245 to 171 to delay scheduled cuts until 2012. It’s known as the “doc fix.”
Of course the doctor’s lobby was upset that cuts were even threatened. The AMA wants Congress to take them off the table.
“Enough is enough,” AMA President J. James Rohack said in a written statement. “Nine times in eight years Congress has delayed the cut and not fixed the problem. Congress needs to buckle down, stop growing the problem and fix it once and for all to save Medicare and TRICARE programs for America's seniors and military families.”
Enough is enough. Enough out-of-control spending. Medicare has a $38 trillion unfunded liability that we can’t tax our way out of. At some point soon we will have to raise the retirement and Medicare eligibility age and reduce what Medicare covers or we will end up in worse shape than Greece is in now.
This Week's Show -- July 10, 2014
CENSORSHIP AT CBS: Investigative reporter Sharyl Attkisson has a similar story. She explains why she left CBS after it became "harder and harder to get stories on television" that criticized this government and "any powers that be."
IS STOSSEL BIASED?: Years ago, journalist Howard Kurtz criticized me for not being objective. I said it's impossible for any journalist to be completely objective. Now that Howard Kurtz is on Fox, we debate again.
THE OBJECTIVITY MYTH: Andrew Kirell of Mediaite.com says, "every journalist has a point of view and they don't just magically check it the minute they walk in the newsroom door."
NEW MEDIA: Reason TV's Remy Munasifi uses music videos and parodies to complain about things like politicians' spending. One of his latest parodies highlights the scandal surrounding the VA hospitals. Munasifi discusses his videos, which have gone viral on YouTube.
RETRO REPORT: It's great there's a new media organization called Retro Report, which reveals media hype of the past ("crack babies," America's landfill "crisis," the "superpredator," etc.) and corrects stories everyone in the media got wrong. I discuss the new show with its executive producer, Kyra Darnton.
REAL OR FAKE?: Sometimes people in the media say things that are so bizarre, you'd think they were made up. Kennedy of The Independents quizzes FoxBusiness.com's Kate Rogers, Fox Business host Charles Payne and me to see if any of us can tell which quotes are real, and which were made up by my staff.
MY TAKE: I used to report on lots of scares. CBS even ran an ad for me where someone called me a "guardian angel."
That's bunk. The only guardian angel is a free and open society. That's what allows innovation, gives people longer lives, and lifts billions out of poverty. But these gradual improvements aren't newsworthy. Scares and disaster make the news.
News is broken not just because we're biased but because most good and important news happens slowly.
9PM ET on Fox Business Network