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)
Are they still counting the 500 billion savings from Medicare cuts twice?
That would make quite a difference.
My biggest concern is that I don't trust anything coming out of D.C.. (Dem or Rep). All of this is simply numbers on paper that someone "thinks" will all fall into place and everyone will live happily ever after. This is the biggest social change since Social Security and Medicare and look where they are today – government run programs that are broke or full of fraud.
I absolutely believe that something has to be done with health-care reform but at this moment in time I just cannot put my trust in my own government. I bothers me tremendously that something so important to all of us cannot be passed without using reconcilation and the deem and pass options. This alone should give everyone pause.
I hope for the best but believe what is happening now my be the biggest burden any of us, the faithful taxpayers and true economic stimulaters, have ever had to carry.
This s not a government takeover of health care. Why do the Republicans keep on insistng that it is? Must they keep lying to the people? Who are they trying to convince? I think it is an auful state of affairs when these elected representatives refuse to work together for the betterment of the people. All I can think of is that they hate the fact the the Dems won and are trying their best to break Obama. I think all the Republicans are absolutely decadent and disgusting! Their Mothers must be really proud of them and their do nothings!!
Sure it"s going to cost us..nothing is free , we send millions of dollars overseas which never gets paid back..to people we don't even know.
Who pays for this...We Do....right or wrong it can do more good than harm to pass some kind of reform..we can always change it later.
Let the people vote on health care...or is it we don't know what's good for us ....never let the have's vote for the have not's ..we'll never get anything that they allready Have !!
This bill is better than no bill. PASS IT!!!
How loud do I have to yell that so republicans can hear it? I doubt a mega phone would help.
When Obummie and the dumbocraps can manipulate all the assumptions on what constitutes the cost basis (ie; cut medicare by $500 billion) you can get any number you want from the CBO. The CBO's only function is to do accounting costs on the guidelines ( assumptions) they are given by Obummie. What smoke and mirrors!!!!
Look at all the cost estimates on Medicare in years past. Medicare was 10 fold the cost estimates within 20 years.
I couldn't help noticing that in the first paragraph the CBO final number is cited by "Two House Democratic sources."
In the next four paragraphs, these Democratic sources interpret it for us.
You have to get halfway down the article before you hear a response to this interpretation from the Republican side.
I so ashamed that I ever voted for a republican. We need the healh
care bill in my family. JOHN BOEHNER AND MICH Mc CONNELL DO NOT SPEAK FOR ME!!! I wish they would quit telling lies about the
This bill would usher in a massive takeover and flush our freedom down the drain. If you love freedom get out and protest before it is too late.
Glad that the integrity of the Ticker is still strong..
Seriously, how can you repeatedly bump a story about Sarah Palin as more important than the current healthcare debate?
Boehner is still shooting off his orange face mouth that the bill will cost 1 trillion, that's not what the CBO said so why in the hell should anyone believe this liar.
Hmm.. expand health care to millions of people and reduce the nation deficit? Oh of course the Republicans are against it! ? My fault, I forgot that they aren't in power and will do anything to convince the American people that anything Dems do is wrong and that we should kick them out of office just to give the Republicans another shot of messing things up like Bush did. Give me a freaking break and put the American people first for a change why don't you!!!
You want us to speak up, well fine. Here is my voice. My one small voice that will not compare to the big insurance companies tossing out millions of dollars in order to fight this bill and keep their pockets lined with cash.
Do the right thing, please and pass this bill!
Costs 940 Billion dollars.
We know the CBO estimates are alwasy best case.
DUMocRATS are giddy because its not as bad as they expected.
How stupid is that.
My local 7/11 store manager has more fiscal sense than these morons.
Too bad I will not obey this law. I will not pay any more taxes. I'm done, I will only pay what I have right now.
It reduces the deficit? So why are the supposedly fiscal conservative not supporting it? Because it's a Democratic bill, nothing more nothing less. It wasn't the GOP's idea. They know if this passes they may be in trouble if the public comes to realize the savings to our national deficit over the long term. Once people see this bill will not affect them like the GOP has been lying about for the last year they may end up actually liking it. Lyars cannot be caught on their lies unless their is proof. There can only be proof of the GOP lies if this bill passes. No wonder they don't want it pass. They will be caught!
This is what I have been saying... it is stupidity to think that the GOP would support anything that would make Obama look good. This is not leadership, it is just destructive politics. The GOP needs to come onboard withe good legislation or be kicked out. They don't ALWAYS hve to agree but definately the shouldn't always DISAGREE either.
How about these apples GOP? You talk a good game about fiscal responsibility (not that you ever have a record of it), and yet won't vote for this?
Vote Democrat or Independent come November.
Nothing at all will make the GOP change their opposition to this bill or anything introduced by this administration because the goal is not to "Kill the Bill," as they would like for people to believe; rather, it is about destroying the president.
People are falling in line behind the GOP with blindfolders on. I pray that this bill passes as we do not need the Tea Klux Klan, along with the world's greatest hypocrits, Boehner and McConnell shouting victory all over this country, thus feuling them to continue on with their hatemongering and division.
They sound just lke those people did in the sixties when they were oppose to Dr. King's message.
Just pass it, and fix errors and issues later, like we did with Social Security and Medicare. We have other fish to fry.
Arranged to be viewed as "under a trillion"!
Why is the headline "CBO estimates health care bill at $940 billion"?
Don't we usually cite annual budget amounts, thus "CBO estimates health care bill at $94 billion a year"
"Health bill cuts the deficit by $130 billion" ?
"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. " So why do the conservatives hate this bill? Oh yeah: "The measure extends health insurance coverage to 32 million Americans, helping to guarantee that 95 percent of Americans will be covered." Nothing like uneducated conservatives to show true hate and ignorance.....
When will the Dems cut this junk that HCR "saves" $130? The reforms DO cost and will cost money; it's the slashing of Medicare in the bill and the increase of tax rates that "saves" money!
To "save" money, the Dems can/should just cut Medicare by $65 billion, raise tax by $65 billion, and they'll have their $130 in savings! After all this is where the "savings" is comin in the first place.
It's a shame that you are running rumors since the CBO has yet to release any numbers. However, this $940B figure is still too high for many of the fiscally conservative Democrats, and their votes will not be changed. Not sure why the two Dem sources are touting this as good news.
CNN, you might want to update your news here since it appears that the CBO have not yet released their numbers on the cost of obamacare.
This is better than nothing. I would like to see something done. It seems so sad that the Republicans can't get enough together for their own bill that they have to stop another option.