CBO: Health Care Bill Reduces Deficit By More Than $1.3 TRILLION Over 20 Years

The nonpartisan Congressional Budget Office just released its score of the health care reconciliation package.

According to the Huffington Post:

Comprehensive health care reform will cost the federal government $940 billion over a ten-year period, but will increase revenue and cut other costs by a greater amount, leading to a reduction of $130 billion in the federal deficit over the same period, according to an analysis by the Congressional Budget Office, a Democratic source tells HuffPost. It will cut the deficit by $1.2 trillion over the next ten years.

The source said it also extends Medicare's solvency by at least 9 years and reduces the rate of its growth by 1.4 percent, while closing the doughnut hole for seniors, meaning there will no longer be a gap in coverage of medication. The CBO also estimated it would extend coverage to 32 million additional people.

That is excellent news for both health care reform proponents and deficit hawks.