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)
From CNN Politics
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Cheap. You could cut twice that out of the military budget and not even notice it.
John Boehner has had his say, repeatedly. He was wrong before, is wrong now, and shows no sign of being anything but wrong in the future.
The GOP is full of hypocrites. They claim to be pro-life. And when it comes to saving life, they become a party of no. My car has a better auto insurance than I do. If it's mandatory to have an auto insurance, how come we can't mandate Americans to purchase a health insurance? You have to be healthy first to drive. Republicans got their priorities backwards. They want freedom, yet they want to control a woman's body. You hypocrites!
I hope the Dems keep the house until Ohio is smart enough to vote the orange man out.
As much as we have to listen to him and his propaganda now, imagine if he was leader of the majority. ewwwwwwww.
Thank you Congress and President Obama, for working in the best interests of the American people. We support your efforts. Please pass health care reform now!
Nothing will change the minds of the republicans. They have decided to take themselves out of this process. Even after quite a few of their ideas were included in the bill, with credit publicly given to them, they still spread their lies. Note to republicans: we're moving on without you because the American people's health and the country's financial security depend on it.
The GOP does not care about any body else but them self. Forget about the GOP non sense and pass that bill so all American can get coverage. It is time for the Dem. to stand firm for what they believe once and for all. If it was the GOP in majority, this bill will be long pass. I said forget the GOP. If the Dem don’t pass that bill this is one vote they can forget about when comes next election.
When has any program administered by the federal government come in at (or under) budget? It's usually over budget...way over...by multiples.
This number is rediculus. Though just a rough estimate, the CBO could have just as easily pulled this number out of it's butt.
This attempt at healthcare reform is overreaching.
I would heartily support a bill aimed just at Medicaid. I do not at all support this fiasco (both the bill and the process).
"GOP leaders said the new CBO estimates had not changed their opinion of the bill, which they vehemently oppose. "
Why am I not surprised!
This is all monopoly money. If a legitimate business kept its books like the US Government, their corporate officers and executives would be indicted for fraud . . . it's called "COOKING THE BOOKS".
"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."
Ah, actually, you're OVER-estimating, 60 Billion may not be much to YOU because you had your share of spending – but to me, it's less than a TRILLION....LOL
It does not matter what the RepubliCAN'Ts say at this point!! They are not going to get behind the bill – they're planning on SUING the government and they are going to campaign to REPEAL it. So we know what they are all about and the American people would figure it out too (the ones who are so blind and cannot see it!!)
Your correct Boehner. Why would I want to pay attention to the numbers? Cut a trillion dollars off of the deficit, insure 95% of the population and extend Medicare solvency by 9 years? Absoloutely horrible!
Why doesn't CBO analyze the numbers and not the Madhoff math that Obama is using? America, we are being hoodwinked.
Before the GOP starts yelling about the cost of the bill, please read the article. The CBO says it will lower the deficit. What policy over the last 10 years has the GOP delivered that has lowered the deficit. The health care reform could have lowered the deficit even further if the GOP did not get in the way. If they were concerned about reducing the deficit they would have voted for the public option/single payer system. Please show me any report that says that will not lower the deficit.
Sounds good to me. So what, were spending a trillion $$$ over 10 years. How much $$$ in that time frame will we be spending on defense/millitary. I'll bet ya a hell of a lot more! We can be safe and healthy at the same time.
Oh the GOP....bitter and angry to the end. How dare Obama spend 940 billion to save 1.4 trillion and save lives?
Translate this to Boehner speak as "How dare Obama force a bunch of insurance companies to cover millions of Americans who probably don't vote Republican"
Okay, Boehner. Put your actions were your mouth is. Stand up to government run health care by declaring that you, along with all other Republican Congresman, Senators, Governors and all of your staff, will give up your government run health insurance and purchase your own individual health insurance from the private market. You'll be saving the tax payers millions of dollars and actually begin to look like the fiscal conservatives you claim to be.
And?
So?
But?
Therefore?
At least this money would go for a purpose. How much was wasted in illegal contracts during the Bush regime? How much has been spent fighting illegal wars? How much has been wasted with CEOs giving their board members all expense paid trips to the Bahamas in 5-star hotels?
You can't quibble about how much repairing health care/reforming health care/providing health care/etc is going to cost unless you bring the vast amounts of mismanagement that has happened in the years prior to doing something USEFUL with the money.
If the bill would cut the deficit in the end, why is CNN's headline focusing on the non-adjusted price tag? Looks like just an attention getter, with no real explanation in the body of the story.
It appears to me that congress can't get their act together for the benefit of the people on health care bill.It seems they are going along with Insurance companies and forgetting about their constituents.Elections and reelections will be soon,then we will see if some are still among us.Keep on bickering amongst yourselves as that is what you do best.I think it is about time for all members of Congress to have the same health insurance as the general public have.I believe there would be some drastic changes without too much bickering.
The CBO numbers are pretty good. The bill will cost 940 billioin over ten years. That's 94 billion per year. It's not huge. Our defense budget is over 700 billion per year. That's huge. The bill also REDUCES the DEFICIT. Fiscal conservatives should like that.
It's sad that Congressman Boehner continues to repeat the "impose government health care" lie and none of the press calls out the lying. The vast majority of the bill deals with private insurance. The parts that deal with Medicade are for people with no insurance. Having that is going to be a LOT better than no insurance. It will give them an opportunity to go to the doctor for checkups or when they're sick. As it is now, they go to the emergency room which is the most expensive way to provide care and we all pay for it both in taxes and in higher insurance premiums.
How about making it more acceptable to the American people instead of the House liberals? Start over people! Let's do reform right!
The only way they can get the number under $1 trillion is to count the "next ten years," which includes ten years of taxes and only six years of actual benefits.
Also, I like the verbiage: "extends health insurance coverage to 32 million Americans." It really means to force 32 million Americans to buy private insurance and give tax breaks to those who can't afford it, (and don't pay taxes anyways).
The bottom line is that nothing is free, and this program will become yet another unfunded mandate.
If it cuts the deficit by $130 million why does the plan borrow $100 million from Social Security? I guess if one system is going broke we might as well really destroy it.
And would someone please show me an entitlement plan that has ever saved money. Medicare and Medicaid have cost hundreds of billions more than estimated by CBO or anyone else.
It is not the insurqance or coverage of health care that needs to be fixed, it is the health care system itself.
Obamacare does nothing more than add lifeboats to a sinking ship. The ship is what needs to be fixed.
I wonder if they really care or comprehend that the people who
pay just can't afford to scrifice life liberty and the persute of happiness. Most folks who have worked diligently all their lives
don't want to loose a life time of sacrifice to submit to the out-
rageous schemes of this congress.. The same congress who
don't want to be covered in the bill they would shove down our
throats. I vote NO to a totally new program and I vote to simply
overhaul the things that are really possible,which by the way is the responsible and doable for us to tolerate in our cuurent economic
atmosphere.