CBO: Health Reform Will Reduce the Deficit, Cover Tens of Millions of Americans

Here’s the CBO’s latest on health reform. Here’s the main table showing the ten-year deficit impact of the Senate bill with the reconciliation sidecar:

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Now it’s important to be clear that when conservatives say “reduce the deficit” what they typically mean is “lower tax rates, especially for rich people.” The health care bill does reduce the deficit if by “reduce the deficit” you mean “make the budget deficit smaller.”

And here’s the coverage stuff:

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Note that though the bill doesn’t include a “public option,” the CBO does expect 16 million additional people to be getting health care through public programs. By way of comparison, there are 12 million people living in Illinois. Seeing as how many Americans already have Medicare, the impact on public program expansion is similar to what we would see if New York State went single-payer.

The bill will cover 95 percent of legal residents of the United States, with the remaining five percent contributing financially to sustaining the system and eligible to sign up for coverage if they find themselves in need.