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)
With all due respect to Mr. Boner, it's time for him & his insurance industry defending cronies to bite the bullet. Their allegiance should be to their constituents (the American people) & not their own wallets.
Does anyone really believe this? How will adding 30 million plus people to the rolls of the insured lead to reduced deficits? Wasn't the CBO way off on thir estimates for the prescription drug program?
CBO generally limits all cost estimates to a ten-year period. Democrats know this, and a majority of the federal subsidies included in their current healthcare bill won't begin until 2014. Even Sen. Max Baucus, the early architect of the Senate legislation, admitted that the actual ten-year cost is well over $1 trillion.
Here's the thing. GOPers will spend $1T to kill 100,000+ innocent Iraqi citizens because, well, they just won't die for free now will they? But here we have a situation where 40,000 innocent low-income and sick Americans are dying every year FOR FREE. Too good to pass up, eh? Why spend $1T saving them when you can get rid of the problem just as effectively by spending nothing and letting them die, right?
Well it looks like Hussein and Pinko Pelosi are going to ramrod this down the American people's throats. If you think having the federal government run the healthcare system is a good idea, just have a look at any other "program” they have run. Does social security and welfare ring any bells?
Boehner irresponsibly promotes yelling "louder," as if the teabaggers have not been uncivilized enough??
Boehner ignores the deplorable actions of these followers even in OH where they mocked an American with Parkinson's disease. And Boehner shamelessly wants it louder...
/sigh, rethuglicans. Can you be any more obvious you want the country to get bankrupt. Whats more important rethuglicans? Reducing the country's debt or keeping the status quo (Give more money to insurance companies). Moses (CBO) has spoken! This will reduce the country's debt.
Thats the difference between parties. When Rethuglicans are in charge they like to show everyone that government doesn't work, and they do an amazing job at that. When Democrats are in charge they don't brag but they like to show government does work, and they do an amazing job at that.
They have a lot of nerve worrying about spending when they are the ones that ran up the deficit. They need to get over it and let President Obama do his job. They just don't respect him as a man first. The truth is they want him to fail no matter what. They just want to make sure they they keep getting their kickbacks, business as usual. I really hope that during the mid-term elections everyone gets out and vote and let the GOP know that we are not taking their crap anymore. They care about noone but themselves. Please America let the GOP know that we mean business. No more of them looking out for their coonies. It is about the American people.
This is meaningless. If you spend an extra $940 billion on top of current spending, and at the same time suck an additional $1.07 trillion in new taxes out of the private sector and into government, sure, you'll cut the deficit. And in return for transferring a huge chunk of resources from the efficient private sector to inefficient government, you'll create poverty. Furthermore, this deficit "reduction" is based on a ten year analysis where taxes begin immediately, and "benefits" begin four years later. What happens after that? You should know...
Good now get it finished so the media frenzy can go away and the obstructionists who have become major whiners can go run for election.
We won't need to use the treachery and creative tactics that this administration is using, in order to overturn the Health Care bill if it passes. It will be the issue that gets Republicans elected in November, and the majority of the people are with us, so we will
overcome this fiasco... IF it passes... (Headlines will be:
Pathetic President pissed-off people passing pitiful plan Pelosi passionately pushed, proving power players promised prizes
paying partisans to purloin from the patriots.
I think the Gentleman from Ohio means lie a little balder, since the only government "takeover" is shifting regulation from the states to the federal government and closing the gaps in financing so that the working poor and the sick are not left out in the cold, to be covered in the ER with the rest of us footing the bill. The other falsehood is that the bill will hurt Democrats. This is only proven out in Rasmussen push polls. The gentleman should stop believing his own propoganda (although I suspect he truly does not believe it, which is the baldest lie of all).
Congress is at least being fiscally responsible to work with the CBO towards paying for the health-care bill and reducing deficits for Americans.
This is in stark contrast to the Republican-led Congress passing a prescription bill without a way to pay for it.
Thank you, CBO, for the fiscal analysis. Let's pass health care now for our country!
I would love to reduce my deficit by being paid 10 years of income and only have to pay 4 years of expenses. This bill is a fraud, along with it's authors!!
...But the Repugs had no problem spending a trillion dollars to "impose" a useless war on the American people. This will at least be giving something back to the taxpayer instead of just greasing Cheney's pockets.
If a Democrat said they would hand the government a trillion dollars in cash , Senator Boehner would say no to it.
The math adds up here- that has been the biggest complaint by Republicans over and over.
Spend 940 Billion in ten years- save 130 of that – new balance 810 billion. Over the following ten years an additional savings of 1.2 trillion takes place. Net result 390 BILLION SAVINGS over the nexy 2 decades AND coverage for an additional 32 million American.
This should add up no matter what you political affiliation.
This bill will cost 940 billion and actually reduce the deficit, and the repuglicans are still lying! George Bush and these same repuglicans never paid for nothing but added to the deficit 11 trillion dollars! Their policies caused a recession and almost another depression, but for the grace of God and President Barack Obama's leadership! The repuglican response or answer to the mess they created the last eight years is do nothing, but complain, cry, and say "no" to everything!WHEN WILL AMERICANS AWAKE OUT OF SLEEP AND SEE THESE OBSTRUCTIONIST FOR WHO THEY REALLY ARE, "LIARS, THEIVES, DISTORTIONIST, SABETUERS, HATEFUL, RACIST, ANTI-GOVERNMENT, FOR THE STATUS QUO AND THE RICH OR POWERFULL."
$940 BILLION???? Are you kidding me?
Boy, sense these CBO numbers have come out. The republicans snakes is crawling all over themselves. I'm LOL so hard.
Even if the CBO says the revised Health Care will cost $1 billion for the next 1,000 years, the Republicans would still say No!. I know, some of the Republicans know that this bill is better than the Status Quo, they just have to say "No" to save their face and risk being ostracized by their party.
I believe we need to start somewhere on health care reform. No one seems to be concerned with 50 something people, and their struggle to protect assets earned by years of working hard and paying for health insurance to prevent bankruptcy should something unexpected happen with their health.
This may not be the best bill, but perhaps it will provide insurance for thousands, stop large insurers from "cheating" their insured and eventually save money for all of us. This country just needs to start on a path which will eventually benefit us all!
The huge deficit and financial collapse falls to the Republican party. It's too bad there are so many in this country with poor thinking skills who do not understand this. Rest assured, I did not vote for this president, but I think he is trying to get the country back on track. He deserves not only his party's support, but the support from everyone in the country.
The CBO revised estimate of the program has resulted in a number that's changed by roughly $100,000,000,000.00.
The "projection" is that the deficit would be reduced by $1,300,000,000.00 – over the next decade. Even though no one has any idea what the next decade will bring us in terms of history, financial upheaval, etc. By the time this "first phase" of this Bill's accounting is completed, we will be well past another full Presidency.
Then the second decade begins. The projection is that the deficit would be reduced by another $1,200,000,000,000,000.00 during that second decade. A wild, wild guess if I ever saw one.
I don't type those numbers as an attempted "scare tactic." Those are quote simply the actual correct number of zeros we're dealing with, and it would be wise to soberly consider them.
I'm in support of a reforming of our healthcare system. I don't think with this Bill we're going to get what we think we're going to get. I think we're going to bankrupt our Country, and *no one* is going to get healthcare.
This is great news! Lets get on with passing this bill and making sure we can extend affordable health care to most. If we can get 95% of people covered, that's a hugh improvement. A much smaller bill in the future may be able to cover the remaining 5%. Lets pass this biil!
Then let us send a bunch of republicans home in the next election and get people who believe in effective government working for us in Washington.
It will not matter if it only costs us $10.00. the GOP will not agree with any thing this president puts forth for the good of the middle class person. They are afraid this is going to be great for this country and they can't stand it. They will find something else about the bill to complain about. It should be POG instead of GOP. Pitiful Old Geezers
Well, the President is on TV again, campaigning again. Liar.
Just double or triple that (which is what normally happens with government estimates) and then you will know what to expect.
Why is nobody talking about the freedoms we are giving up for this thing? That's the real problem I have. This country is built on freedom.
HAVE A NICE DAY RANDOLPH AND LACROSSMOM!