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Health Bill will Pay for Itself?

(Image: Zef Delgadillo under CC 3.0)

Democrats are elated about the financial report released by the Congressional Budget Office. It estimated the health bill would reduce projected federal budget deficits by $138 billion over the next decade, with additional tax revenue and Medicare savings.

The report is already helping move the legislation forward. Representative Bart Gordon and Representative Betsy Markey had a change of heart on the healthcare bill. Both Democrats cited the budget report as the deciding factor. Many Senators had expressed concern about the cost of the health bill and were convinced the country just couldn’t afford it.

White House officials are now touting the budget report which they say proves the health care plan will not only save lives, but will also pay for itself in the long run.

The federal government would spend $940 billion over the next 10 years to provide medical coverage to 32 million people who would otherwise be uninsured. More low income individuals will be covered and other families will receive subsidies on behalf of the government to purchase health insurance.

President Obama still needs the support of about six more Democrats to reach the 216 votes needed to pass the affordable health insurance bill. Senators are slated to vote on the health bill this weekend.

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