The Congressional Budget Office on Thursday released a revised cost analysis of the health care bill that the Senate adopted on Dec. 24.
The new cost analysis does not include the various changes that President Obama and Congressional Democrats are planning to include in an expedited budget package. But the updated numbers are necessary for Democrats to move forward with the budget reconciliation process.
The new budget office analysis puts the price tag of the new insurance coverage provisions in the Senate-passed bill at about $875 billion over 10 years, an increase of about $4 billion from the previous estimate. Because the cost would be more than offset by revenues from new taxes and reductions in government spending, particularly to slow the growth of Medicare, the budget office predicted that the bill over all would reduce future federal deficits by $118 billion over 10 years.
In its earlier estimate, the budget office said the bill would reduce future deficits by $132 billion. ...
Comment: This bill will reduce future federal deficits? How does more spending ever reduce a deficit? Well I know we'll never see reductions in government spending as described, but I know these jackals will surely raise our taxes. And in the end we'll have more government and personnel debt, and the insurance industry we'll be getting richer.
Get the word out folks, only by repealing the 17th Amendment will we restore the balance of power, the checks and balances, the founders established and the progressives destroyed with the banking elite in 1913.