CBO Score for Senate Health Care Bill to Reduce Deficit by $132 Billion

December 19, 2009

(ChattahBox)—The CBO score is finally in for Sen. Harry Reid’s (D-NV) health reform bill and it looks good. The Senate’s health care bill would cost $871 billion over ten-years and cover 31 million more Americans, according to the Congressional Budget Office. The price tag is slightly higher than the Senate’s original reform bill, before the many concessions were added to appease centrist Democrats. The updated bill would reduce the deficit by $132 billion over ten-years.

The CBO analysis provides Democrats with a much-needed boost, as the often contentious health care debate appears to be nearing its end. If all goes according to plan; a number of procedural motions will be introduced starting on Monday, ending with a final floor vote on the historic health care bill on Christmas Eve.

The CBO has concluded that, on average, insurance premiums will be the same under a bill with a public option. However, the public option offered greater savings to the federal government, by pressuring insurers to lower rates. Without a public option the government would have to pay out more money in federal subsidies to lower costs.

The full CBO report can be found here.

Source


Comments

5 Responses to “CBO Score for Senate Health Care Bill to Reduce Deficit by $132 Billion”

  1. todd on December 20th, 2009 8:39 am

    This bill stinks and if Americans would have been told that we would be FORCED into buying heath care and from WHOM this bill would not even have made as far as it did. This is an outrage! We have been lied to by our President and by the Senate. Joe Lieberman is the biggest bum of all but I’m afraid his partners in crime in the senate are none the less to blame for allowing this garbage of a Bill to come as far as it has. The people will not forget this come 2010 just because Obama had a nice photo signing this crap. Down with the Dems and republicans in 2010, it’s 3rd party or ANY other party time.

  2. Marcia on December 22nd, 2009 8:02 pm

    I’m not buying this for one second. We’re gonna spend 871 billion (and thats assuming that is an accurate figure as government programs ALWAYS wind up costing anywhere from 10-50 times more than projected) and thats gonna cause the deficit to come down 132 billion?

    So when the deficit reaches, lets say 2 trillion dollars, are they gonna say “it would have been 2 trillion 132 billion if it werent for this health care bill”?

    I KNOW the CBO is supposed to be independent, no partisan, and impartial, but something tells me that they were strong armed by the white house and/or the Democrats in the senate or congress into making this claim.

  3. hardhat40 on December 24th, 2009 1:48 am

    The bill is estimated to cost $871billion over 6 years. Taxation starts after 1 year. Medicare cuts (supposedly) will start the following year. This does NOT include “the doc fix”” estimated at $274 billion…that actually ADDS $142 billion to the deficit. So you get 10 yrs of cuts and taxation, for 6 years of actual “benefit”, cut medicare by nearly $500 billion (an entitlement that is a projected 35 trillion in unfunded liability already) and 400 billion in increased taxes CERTAIN to be passed to the consumer, and we jump for joy at (falsely) projected 132 billion in deficit reduction?

  4. Gitmo To Stay Open Into 2011 on December 24th, 2009 2:12 am

    […] Originally Posted by Stang I guess harder than getting a health bill pass the House and Senate that will throw the USA into bankruptcy. It won’t do that. It will actually reduce the deficit. CBO Score for Senate Health Care Bill to Reduce Deficit by $132 Billion | ChattahBox News Blog […]

  5. John on December 25th, 2009 2:32 pm

    The health care bill is a complete fraud. The way it was put together behind closed doors, the way various senators were paid off and the way it is to get paid for. The two big income generators are cuts in medicare and a tax on the cadillac plans, which were to pay for the majority of the plan. Neither will happen.

    The pojection for medicare when it was passed in 1965 was off by 10 times and this bill will be worse.

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