John Ransom

In a piece last week titled Obama’s Phony Numbers Adding Up, I quoted a new Congressional Budget Office report that says that the amount originally estimated for the ten-year cost of Obamacare had soared from $900 billion to $1.76 trillion.

In the wake of the report, I mentioned that noted Washington Post “Wonk” blogger Ezra Klein had been wrong the year before in calling out Rep. Eric Cantor’s claim that the math Democrats used to sell Obamacare as a deficit fighting issue was at best incomplete.

I wrote:

Liberal “wonk” Ezra Klein, of the math-impaired Washington Post, still scolded Republican Rep. Eric Cantor last year for pointing out this obvious fact: Democrats cooked the books to make Obamacare appear as a deficit reduction measure.

“But as a matter of arithmetic,” wrote Klein in January of 2011, “using the math that Congress always uses, the bill saves money. It cuts enough spending and raises enough taxes to more than pay for itself, both in the first 10 years and in the second 10 years.”

Turns out the “wonk” was w-w-w-wrong. 

Well it turns out that the Wonk says I’m w-w-w-wrong. Or he’s more truer or righter than before.

I’ll let him misstate that part:

Actually, no, I wasn’t[wrong]. That statement, in fact, is even truer today than it was then.

He then calls me out for quoting the CBO that “those provisions will increase deficits by $1,083 billion,” saying that I either choose not to admit or didn’t understand that the analysis wasn’t a complete rundown of all the budgetary impacts.

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

Get the best of Townhall Finance Daily delivered straight to your inbox

Follow Townhall Finance!