Exact(9)
And Medicare spending could surpass estimates based on current law.
Richard S. Foster, the chief Medicare actuary, said the projections in the report, based on current law, "are probably poor indicators of the future financial status of Medicare".
The real battle is less about budget trends based on current law than on the impact of additional tax cuts that President Bush has advocated in recent weeks.
Because the projections of borrowing needs are based on current law and not the new deficit projection, Treasury did not say exactly how it would handle the added borrowing in the future.
Medicare's actuary is miffed: "Although the Office of the Actuary agrees that Congress is very likely to override the physician fee reduction, the assumption conflicts with the Office's professional judgment that, as in all past years, the determination should be based on current law, not an assumed alternative".Other efforts to find savings in health care may be similarly fruitless.
Even when budgets were growing, swelling personnel costs left less money available for buying new weapons and developing new technologies.Clark Murdock of the Washington-based Centre for Strategic and International Studies CSISS) estimates the real spending decrease (in constant 2013 dollars and based on current law) from the 2010 peak to the 2021 trough to be a hefty 31%.
Similar(51)
On Jan . 1 according to current law, a host of tax breaks expire and huge, across-the-board budget cuts go into effect.
European countries took 14 years to agree on the current law on the taxation of savings.
"The president directed his administration to take swift action on reform initiatives that he has the authority to act on under current law," Mr. Wilkinson said.
But, he added, judges were independent and could rule based on the current law until a new law was approved by Parliament.
Alliance for Choice, which published the letter, is concerned about further restrictions on the current law.
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