Washington (CNN) - The non-partisan Congressional Budget Office estimates that the Democrats' revised health care bill will cost $940 billion over the next 10 years, two House Democratic sources told CNN Thursday.
The bill cuts the deficit by $130 billion during that period of time, according to the sources, and would reduce the deficit by another $1.2 trillion in the following decade.
The measure extends health insurance coverage to 32 million Americans, helping to guarantee that 95 percent of Americans will be covered, the sources said. It also reduces Medicare expenditures by 1.4 percent annually while extending Medicare's solvency by at least 9 years, they added.
Rep. Henry Waxman, D-California, told CNN that the CBO estimates are "better than expected."
Waxman said that many of the remaining undecided House Democrats have been concerned about the bill's impact on future federal deficits.
The CBO estimates "will go a long way to get them to feel comfortable with the legislation," he predicted.
GOP leaders said the new CBO estimates had not changed their opinion of the bill, which they vehemently oppose.
The Democrats are "still going to spend a trillion dollars to impose government health care on the American people," said House Minority Leader John Boehner, R-Ohio.
"It's not too late for the American people to continue to speak up," he said. "They need to yell a little louder and we can stop this."
The health care bill passed by the Senate in December would cost $875 billion over the next decade while reducing federal deficits by $118 billion, according to the CBO.
Democrats have been making a series of changes to the Senate bill in recent weeks in part to make the measure more acceptable to House liberals.
–CNN's Ted Barrett, Dana Bash, Brianna Keilar, and Alan Silverleib contributed to this report
(This story was updated at 10:20 a.m. EST with additional information)
Great news! Now, on to the job at hand. And let's hope those special deals to Nebraska, Louisiana, Connecticut, etc., are out of the Senate package NOW!
Thanks, CBO, for being a fair player in all of this.
Health care big mess. It cannot pass. BHU is wishey washey.
And of course Biden giving a zing to Palin rates the lead story on the ticker.
Attention teapartiers, GOP obstructionists and reactionaries of all ages:
The non-partisan Congressional Budget Office says the bill cuts the deficit by $130 billion during that period of time.
Don't let facts get in the way of ideology or playing with your "team" as the great GOP minority leaders in Congress, McConnell and Boehner term it. And we thought the team was the USA.
yeah $940 B of cost in the first 10 years with taxes starting now and benefits (costs) starting after 5 years. This isn't a fair analysis. The second 10 years costs will be at least 2 times as high and it will crush and destroy the budget and we will go bankrupt. Any politician who votes for this bill should be ashamed of themselves and will not get my vote again.
the operative word in all this is 'estimate'. everyone knows that an estimate has the possiblity of having the final price tag to be either higher or lower. most americans also know, from far too much experience, that when the government estimates something, the final bill more than likely will be far higher.
serious effort to healthcare reform, as important as this issue is, should not have to rely on meeting a particular estimate first. spend what it takes to get it right, b/c in the end trying to nickle and dime something ends up costing more.
I just heard the minority leader admit "we are broke". It is funny they did not notice that when they were passing tax cuts to people who had plenty.
If I am broke in my household, we try to raise income and decrease our spending. Congress seems to have a different plan. I do not see any of them agreeing to a pay cut or doing without their health care. Or even not putting out their hand on any pork barrel project they can get.
I agree we need to bring in more income, and that means more taxes and less pork on the table.
This is a drop in the bucket compared to Bushes wars money spent KILLING PEOPLE Now money being spent to save peoples lives oh yes the change is great!! oh and teabaggers have your melt down because HEALTHCARE REFORM WILL PASS!!
Wow a bill that cuts the deficit by $130 billion over 10 years and helps people get affordable health insurance. What's not to like?
PASS it already! It can be modified once it's passed.
Not bad...at least it is under a trillion. Just get er done and pass it already.
Everyone will vote for something that helps people get and keep affordable health insurance AND cuts the deficit by $130 billion, right??? Nope, sadly some put politics before people's health AND deficit reduction.
Amazing how a bill with 6 years of expense and 10 years of revenue can save $130B. How stupid do they think we are?
Republicans crying foul is like the Devil crying "its hot"! Their standard bearers Limbaugh and Fox want the "status quo"...millions uninsured, no taxes for the "haves and have mores" (remember that quote), and leave the insurance companies alone! That is NOT what the American People want! We must have reform now....otherwise thousands will die because of lack of health insurance.....while the millionair Republicians in washington could care less....they have the best care money can buy!
The CBO is either venal or incompetent, maybe both. There is no conceivable way to cover more people, improve care for everybody, train more doctors and save money, all at the same time. Haven't these clowns ever heard of the law of supply and demand? Every failed socialist/communist regime learned that lesson the hard way. Citizens will learn that lesson the hard way when their cancer is being treated by a nurse practitioner and grandma is denied an angioplasty.
Even without the health care bill the ten year deficit will be two to three times higher than the CBO projects.Their math wouldn't stand up in a decent undergraduate stat. course.
Too bad the average journalist hates math and loves to trust self-proclaimed experts. No problem. They are really good at ferreting out sexual misconduct between consenting adults. And even better at whiny moralizing. Too bad we can't at least get the spouse-cheating journalists to shut up.
And maybe even require a litle math and science education for them too.
haha.....cuts the deficit? Liberals? Now, that's some stand up material for clown-boy Biden to use....Here's an estimate about government spending...any estimate they provide? Double it, especially when you account for government worker exploitation of the system combined with entitlement leeches robbing the system.
$94 Bil/yr is less than what we spend on wars
PASS THE BILL!!!!
yes!!! let's spend another 940 billion.....hope the Chinese can help us out... on another bad idea....
Nah, the wing-nuts don't want any legislation that *saves* money and covers the uninsured. They get their jollies in spending trillions on regime changes and nation building.
...and how do all of these 'Spend whatever it costs' Democrats propose that America pays for this? They don't. Those details are annoying.
The CBO is usually off by a factor of at least two–the real answer is probably closer to $2 trillion.
And "The bill cuts the deficit by $130 billion during that period of time, according to the sources, and would reduce the deficit by another $1.2 trillion in the following decade."
Just how stupid does the government think we are?
Oh is that all 940 billion no problem lets get out the check book. Still don't see how they plan to pay for a 940 billion dollar bill oh that's right they say it will come from medicare savings probably with a little taxes sprinkled in. I don't trust none of them in congress not a one.
It may be just time for the Republicans to understand that this is a good thing to do for the American people. Enough of their lies – they are not fighting for the American people but for their corporate backers.
This is just baseline, if it passes the USA will be broke in 10 years.
thier will be changes made to the bill later that will clasps the economy. hide and watch.
"The Democrats are "still going to spend a trillion dollars to impose government health care on the American people," said House Minority Leader John Boehner, R-Ohio."
How desperate is Boehner? That is just a complete lie. Even the most ridiculous nay-sayers will concede that there is no public option in this bill.