The CBO has weighed in with a preliminary cost estimate of the House's health care bill--and there are almost certainly some very happy people in House leadership.
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At $894 billion, the bill's 10 year cost comes in a hair under President Obama's $900 billion red line. But, more politically and substantively important, the bill is projected to reduce the deficit in both the first 10 years and the second 10 years after enactment, just as Rep. Jerrold Nadler (D-NY) told me earlier today.
Over the first 10 years, revenues and savings are projected to exceed new spending (aka it reduces the deficit) by $104 billion. Projections into the following decade are, as CBO chief Doug Elmendorf always notes, very dicey. But Elmendorf says that, from 2020-2029, "the added revenues and cost savings are projected to grow slightly more rapidly than the cost of the coverage expansions." In other words, though the government will pay more and more each year in subsidies and expanded entitlements, it will be realizing savings and collecting revenues at a greater rate.