Reid & Tort Reform

The other day Senate Majority Leader, Harry Reid slipped up in talking about the Tort reform savings. In that process he talked about the total savings on the whole bill. Which of course to make the savings look smaller to discourage tort reform, admitted that the Baucus bill actually has an overall price tag of two trillion.

Whoops. Thank you Sen. Reid, saved us on the right, a lot of explaining.

SENATOR HARRY REID: He talked about CBO saying that there would be $54 billion saved each year if we put caps on medical malpractice and put some restrictions — tort reform — $54 billion. Sounds like a lot of money, doesn’t it, Mr. President? The answer is yes. But remember, we’re talking about $2 trillion, $54 billion compared to $2 trillion. You can do the math. We can all do the math. It’s a very small percent.

Now where he is wrong, is the CBO 2 trillion estimate, is over ten years, not each year. Oh well i guess Sen. Reid can't do the math. Also what is key to remember, is that this is all (the 54 billion) in deficit savings. Not overall savings which is estimated to be far greater, up to almost 110 billion a year.

It is also estimated that it could save $1,000 per family a year.