New York (CNNMoney.com) - President Obama unveiled a $950 billion proposal for reforming health care Monday, and promised that the plan is fully paid for and would even reduce the deficit over 10 years by $100 billion.
The new plan is a compromise of the House and Senate bills passed last year.
The White House cost estimates were based on Congressional Budget Office (CBO) estimates of Congress' bills. The CBO, however, will not be doing a separate analysis of the president's proposal, at least not unless it is formally introduced as a bill at some point.
The president's proposal aims, among other things, to subsidize health insurance coverage for a majority of the roughly 45 million uninsured Americans and to guarantee insurance coverage for anyone regardless of health status.