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CBO Estimates New Health Care Bill Will Cost $ 940 Billion Over Ten Years

by @ 10:49 am on March 18, 2010. Filed under Barack Obama, Health Care Reform, Politicos & Pundits, Politics

The Congressional Budget Office has released it’s estimate for the latest version of ObamaCare:

The Democratic health care bill would cost $940 billion over 10 years and cut the federal deficit over the next two decades – figures that should help ease the worries of fiscal hawks who have been reluctant about supporting the sweeping measure.

The bill would reduce the deficit by about $130 billion in the first 10 years, and by $1.2 trillion over the second 10 years. It will expand coverage to 95 percent of Americans, according to Congressional Budget Office figures released Thursday by House Democrats.

The numbers allow Democrats to push ahead with a vote Sunday, even as Speaker Nancy Pelosi (D-Calif.) continues to search for the 216 votes needed for passage.

“We’re on track for a Sunday vote,” Majority Leader Steny Hoyer (D-Md.) told reporters.

Of course, if you believe that these numbers are even close to what the actual cost of this program is going to be, or that the deficit savings are anything but mythical, I’ve got a bridge to sell you.

But, this means the process moves forward. The next step will be to see what the House Rules Committee decides to do.

Update: Here’s the official estimate:

CBO Estimate Of Senate Health Care Plan With House “Fixes”

6 Responses to “CBO Estimates New Health Care Bill Will Cost $ 940 Billion Over Ten Years”

  1. [...] the Democrats in Congress will try to spin it otherwise, the truth about the CBO numbers released today can be found on the first page of CBO Director Douglas Elmendorf’s letter to Speaker Pelosi: [...]

  2. [...] the Democrats in Congress will try to spin it otherwise, the truth about the CBO numbers released today can be found on the first page of CBO Director Douglas Elmendorf’s letter to Speaker Pelosi: [...]

  3. [...] Washington Post, of all places, explains today why the CBO numbers released yesterday should not be trusted: The latest estimate of what health-care reform would mean [...]

  4. john diver says:

    THE current “health care” bill is a boon to the already corrupt American Insurance Industry! It guarantees it additional billions of dollars in profits, if ratified and signed into law! If the bill fails, the lucrative American Insurance Industry maintains the status quo and does business as usual. It is a win/win situation for the American Insurance Companies!
    Short falls: the current bill does not address DENTAL INSURANCE needs! It does not address EYECARE INSURANCE needs! Why? That could lesson profits!
    What the American nation needs is to do is extend the existing “Medicare” insurance to all Americans! No need for congress to pretend to have to re-invent the wheel here!

  5. john diver says:

    Mr. Stupak only pretends to be anti-abortion.

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