Krugman's failure stems from the fact that he attempts to call the writer of the Newsweek piece "unethical" while Krugman himself misrepresents the CBO report he links to, deliberately misleading his own readers about the costs and increased deficit projections of Obamacare.
Niall Ferguson quickly responds showing Krugman for the liar he is:
In my piece I say: "The president pledged that health-care reform would not add a cent to the deficit. But the CBO and the Joint Committee on Taxation now estimate that the insurance-coverage provisions of the ACA will have a net cost of close to $1.2 trillion over the 2012–22 period."
Krugman counters in his Conscience of a Liberal blog by saying: “The ACA would reduce, not increase, the deficit—because the insurance subsidies were fully paid for.” But I very deliberately said “the insurance coverage provisions of the ACA,” not “the ACA.” There is a big difference.
Krugman suggests that I haven't read the CBO's March 2010 report.
Sorry, I have, and here is what it says:
“The provisions related to health insurance coverage—which affect both outlays and revenues—were projected to have a net cost of $1,042 billion over the 2012–2021 period; that amount represents a gross cost to the federal government of $1,390 billion, offset in part by $349 billion in receipts and savings (primarily revenues from penalties and other sources).”
But thanks for trying, Paul. You reminded me of a point I really should have made in my piece: that in pushing though ACA, Obama violated his most famous pledge of all—made on the campaign trail back in 2008—not to raise taxes on the middle class.
Very ironic that Krugman is so dishonest that in the very same piece he accuses Newsweek writer Niall Ferguson of misleading readers, that Krugman would lie about the data contained in the report he quotes, to mislead his own readers.
Note- Updated, readjusted March 2012 CBO report shows "the insurance coverage provisions of the ACA will have a net cost of just under $1.1 trillion over the 2012–2021 period."
In addition, the March 2012 report estimates ObamaCare "will increase deficits by $1,083 billion." (H/T NewsBusters)
Game. Set. Match. --- Ferguson.
