Department of Corrections
Austin Frakt had some trouble finding the Medicare cut I mentioned that would hold the growth of a certain class of payments to medical providers to GDP plus one percentage point. That's because I made a mistake. The class of payments I was talking about -- the annual productivity adjustments -- are not held to GDP+1. They're held to "a 10-year moving average of economy-wide private, non-farm productivity." I got their growth rate mixed up with something else in the bill. The underlying point of this post still holds, but it's obviously important that I get my numbers right. Apologies.
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