CBO says health care bill costs $829B over decade

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http://news.yahoo.com/s/ap/us_health_care_overhaul

Health care legislation drafted by a key Senate committee would expand coverage to 94 percent of all eligible Americans at a 10-year cost of $829 billion, congressional budget experts said Wednesday, a preliminary estimate likely to power the measure past a major hurdle within days.

The Congressional Budget Office added that the measure would reduce federal deficits by $81 billion over a decade and probably lead to "continued reductions in federal budget deficits" in the years beyond.

The report paves the way for the Senate Finance Committee to vote as early as Friday on the legislation, which is largely in line with President Barack Obama's call for the most sweeping overhaul of the nation's health care system in a half-century.

Sen. Max Baucus, D-Mont., the committee chairman and principal architect of the measure, hailed the budget report.



Baucus bill would reduce deficit by $81 billion over the next decade.
Despite the fact that the Baucus bill addresses the conservative criticism of limiting government spending, Sen. Lindsey Graham (R-SC) reacted on Fox News by dismissing the CBO analysis. “If I were the President, I would basically start over,” Graham told Neil Cavuto.
http://thinkprogress.org/2009/10/07/cbo-baucus-chart/


Is CBO Report the Final Nail in the Coffin for Conrad’s Co-ops?
Conrad's state-based co-ops idea was once seen as the great “compromise” for health care reform and the public option issue. It is an idea which never really picked up broad support, and recently seems to be on the outs. The latest CBO report on the Baucus bill might just be the nail in the coffin for Conrad's co-ops:
http://campaignsilo.firedoglake.com/2009/10/07/is-cbo-report-the-final-nail-in-the-coffin-for-conrads-co-ops/

[goodboy]

1. Agency predicts health care bill will cost $829 billion (CNN)

WASHINGTON (CNN) -- A compromise health care proposal widely seen as having the best chance to win Democratic and Republican support would cost $829 billion over the next 10 years, nonpartisan budget analysts concluded Wednesday.

It also would reduce the federal deficit by more than $80 billion, according to a report from the Congressional Budget Office.

"Reid could implement a legislative option known as reconciliation, which would require only 51 votes to pass a health care bill. However, Republicans warn against such a move as shortsighted legislative warfare that would sow deep and long-lasting division."

FUCK THEM. Put the public option in. and shove it up their asses.

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2. W.H. reacts to CBO health report

http://www.politico.com/politico44/

W.H. ON THE CBO:
The White House offered a reaction to Wednesday's Congressional Budget Office estimate on the Senate Finance Committee's health care bill --
"This is another important step forward for health reform. The analysis confirms that we can provide stability and security for Americans with insurance and affordable options for uninsured Americans without adding a dime to the deficit – and saving money over the long term," said spokesman Reid Cherlin.