Dem Source: CBO Says Health Bill Cuts Deficit (by $130 Billion),Costs $940 Billion [View All]

[kpete]

Source: Talking Points Memo

Dem Source: CBO Says Health Bill Cuts Deficit, Costs $940 Billion

A Democratic source provides TPM with the CBO's final numbers on the health care reform bill--the composite analysis of the Senate health care bill as amended by a soon-to-be-released reconciliation bill, which makes a number of amendments. The findings, as expected, keep the bill in line with the Senate bill's stand alone score:

The bill would reduce the deficit by $130 billion in the first ten years, and potentially by $1.2 trillion in the second ten years (though CBO always warns that projections into the second decade are extremely unpredictable).

According to the source, CBO finds that the bill reduces annual growth in Medicare expenditures by 1.4 percentage points per year, extending Medicare's solvency by at least 9 years.

And, in a small, but significant improvement over the Senate bill, the combined package will expand health insurance coverage to 32 million Americans, as opposed to the Senate bill's 31 million.



Read more: http://tpmdc.talkingpointsmemo.com/2010/03/dem-source-cbo-says-health-bill-cuts-deficit-costs-940-billion.php?ref=fpb

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UPDATE:
1. CUTS THE DEFICIT Cuts the deficit by $130 billion in the first ten years (2010 – 2019). Cuts the deficit by $1.2 trillion in the second ten years.

2. REINS IN WASTEFUL MEDICARE COSTS AND EXTENDS THE SOLVENCY OF MEDICARE; CLOSES THE PRESCRIPTION DRUG DONUT HOLE Reduces annual growth in Medicare expenditures by 1.4 percentage points per year—while improving benefits and lowering costs for seniors. Extends Medicare’s solvency by at least 9 years.

3. EXPANDS AND IMPROVES HEALTH COVERAGE FOR MIDDLE CLASS FAMILIES Expands health insurance coverage to 32 million Americans Helps guarantee that 95 percent of Americans will be covered.

4. IS FULLY PAID FOR Is fully paid for – costs $940 billion over a decade. (Americans spend nearly $2.5 trillion each year on health care now and nearly two-thirds of the bill’s cost is paid for by reducing health care costs).

UPDATE 2
Hoyer says vote will come on Sunday
House Majority Leader Steny Hoyer hailed the figures from the non-partisan Congressional Budget Office during a meeting with a group of reporters on Thursday morning and said the House would vote on Sunday.
http://thehill.com/blogs/blog-briefing-room/news/87557-cbo-health-package-costs-940-billion-cuts-deficit-by-130b
http://www.dailykos.com/storyonly/2010/3/18/847405/-CBO-Numbers-Are-Out
http://www.politico.com/livepulse/0310/CBO_numbers.html
http://thehill.com/blogs/blog-briefing-room/news/87557-cbo-health-package-costs-940-billion-cuts-deficit-by-130b