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1997 Balanced Budget Act

Reality Check?

By Emma Kirby

*Mainly affected Medicare spending

*2000 report declared that Medicare spending only increased 3.5 %, as opposed to the projected 5.5 %

Good for the budget...

but many people argued that this limited access to quality health care

To provide for reconciliation pursuant to subsections (b)(1) and (c) of section 105 of the concurrent resolution on the budget for fiscal year 1998.

*Successful at the time, but balancing the budget is obviously an ongoing issue

Purposes and Goals:

-designed to balance the federal budget by 2002

*First time in decades that Children were given funding for health insurance

-over $160 billion in spending reductions between 1998 and 2002

*Medicare cuts responsible for $112 billion

*Hospital inpatient and outpatient payments cover $44 billion

*Reduced pay to hospital service providers

-Called for $20 billion in spending on children's health insurance

Background Circumstances

*Balanced Budget Act was a way to place checks and balances on federal spending

Status Overview:

*The Reagan and Bush presidencies resulted in a large amount of debt and the deficit was on a downhill spiral

Introduced: June 24, 1997

Reported by Committee: June 24, 1997

*Bipartisan support!

Passed House: June 25, 1997

Passed by Senate with changes: June 25, 1997

Passed Senate: July 31, 1997

Signed by President Clinton and enacted: August 5, 1997

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