529 Billion News Today

At the reality of real numbers. back when they first started medicare, they projected out 25 years and said it would cost $12 million in 1990. it cost $110 billion. and youre talking about these studies conducted within medicare. cbo just conducted a study of 34 programs to cut costs -- >> i understand this argument, but -- >> it didnt cut any costs whatsoever. >> this isnt going to help you on the campaign trail. specifically, how did cbo game the numbers for the presidents health care plan? >>...

Under the obama plan 529 billion. under owe ryen added debt is 321 trillion. under obama 6.4 trillion. they balance the budget by 2040. obama plan balances the budget never. say what you will but at least the ryan budget does address our national debt. >> first of all we havent seen all of the details. the ryan plan mitt romney the frontrunner this is really the romney riot. it will be rubber stamped if mitt romney is president. there are millionaires and billionaires paid for by veterans. >> yo...

Years. that sounds great. but in october of this past year, the president and his health care secretary did away with the class act which wiped out about $70 billion worth of the projected $143 billion savin savings. you say they knew going in the class act wasnt going to work and that was a gimmick to sell it. >> the budget chairman called the class act a scheme. they included $1100 million in exchanges that chips away at the deficit reduction. the real doozy in terms of that sleight of hand is...

They take $590 billion out of the medicare program and one thing i have pointed out, if you notice, we have not imposed the $208 billion of supposed medicare cuts to providers that is required under the sustainable growth rate formula and we have not enacted that because congress understands if they do that, access to care is beginning to be hampered. quality of care will go down. and, i am skeptical those $529 billion of cuts would occur in medicare but if they did, understand what that would d...

>> brian: department of energy is standing by their decision to give $529 billion to fisker automotive to produce electric cars. >> steve: our next guest says their new car, the karma, could be the worst electric car ever made. warren meyer is a business owner and writer at forbes.com and joins us live. good morning to you. >> good morning. >> steve: okay. so we saw that the epa put out a figure that the fisker cars are averaging 52 millions per gallon. but you say that is way off. >> yeah. obvi...

There are 25 democrats left and ten republicans. hopefully well get the majority. but weve got to replace this bill. weve got to change it and make it so that its something that the american people can afford. its running us into bankruptcy. my gosh, everybody admits now, its at least $2.6 trillion over ten years. we have no way of paying for that. theyre taking $529 billion out of medicare, if you can believe it! thats a program that is $38 trillion in unfunded liability as we sit here. then yo...