Bachmann On Health
The Claim: U.S. Representative Michele Bachmann of Minnesota said Obama's health-care law will be run by a board of 15 political appointees who will "make all the major health- care decisions for over 300 million Americans."
The Background: Bachmann was referring to the independent payment advisory board, a panel of 15 health-care authorities established by the 2010 law to help curb Medicare spending. Beginning in 2015 the panel will begin proposing cuts to Medicare if yearly spending exceeds targets set by the law. Congress could overrule the panel only with a three-fifths majority in the Senate or if it comes up with an alternate plan that saves an equivalent amount.
The Facts: The board only has authority over Medicare, in which about 48 million elderly and disabled Americans are now enrolled, not the 300 million Bachmann mentioned. The law doesn't grant the panel power to make health-care decisions and prohibits the group from cutting benefits, changing eligibility rules or increasing beneficiaries' premiums or cost-sharing. Instead, the board's main tool for cutting spending will be reducing payments to providers.
Bachmann On Medicare
The Claim: Bachmann said "nine years from now the Medicare hospital Part B trust fund is going to be dead flat broke."
The Background: Medicare Part A pays for inpatient hospital services. Medicare Part B pays for outpatient services such as doctor visits.
The Facts: The hospital trust fund is Part A, not Part B. Part A is estimated to be exhausted in 2024, not in nine years, according to the Medicare trustees' annual report released this year. Under one set of estimates by the trustees, the Part A trust fund's expenditures begin to exceed income in nine years, but will not be "broke." In the report, the trustees said the Part B trust fund is "adequately financed over the next 10 years and beyond."
Perry On Regulation
The Claim: Perry said he will offer a plan "for getting America independent on the domestic energy side."
The Background: Presidents since Richard Nixon in 1973 have set a goal of U.S. energy independence. Oil imports have risen since then and accounted for 49 percent of U.S. consumption last year.
The Facts: The U.S. had proven reserves of 19.12 billion barrels of oil, compared with 1.33 trillion barrels in global reserves as of 2008, according to the U.S. Energy Information Administration. The agency forecast in April that the U.S. will rely on imported liquid fuels for 42 percent of consumption in 2035. The U.S. Ranks 13th globally, with 1.4 percent of proven oil reserves, according to the Central Intelligence Agency's World Factbook.
Bloomberg News