Bad News from CBO on Health Care Overhaul Costs

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CBO dumped its estimate of the House's health care bill Friday night just after 9 p.m.

The highlights:

  • The bill would cost a little bit more than $1 trillion ($1.042 trillion, to be exact).
  • The deficit would increase by $239 billion over 10 years (though CBO estimates it would fall $44 billion in the first five years).
  • Spending would be cut by $219 billion over 10 years
  • Taxes would increase by $583 billion over 10 years.

Obama today: "Health insurance reform cannot add to our deficit over the next decade, and I mean it."

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