Late Friday the Congressional Budget Office issued estimates that states for the first time that “H.R. 3200, America’s Affordable Health Choices Act, is deficit neutral over the 10-year budget window – and even produces a $6 billion surplus.”
The estimates also cover important reinvestments in Medicare and Medicaid, including phasing in the closing of the “donut” hole in the Medicare drug benefit.
The estimates issued by the CBO are good news for President Obama and the Democrats in congress because they show that indeed, health insurance reform can be deficit neutral and pay for itself.
Here is what House Speaker Nancy Pelosi had to say on her blog:
“The CBO report confirms that The America’s Affordable Health Choices Act delivers on a critical promise President Obama and the House have made to the American people: health insurance reform legislation will be paid for.
After an historic day yesterday when two out of three committees in the House passed the legislation, Congress has made major progress on health insurance reform that will put patients and doctors back in charge, ensure quality, affordable, and accessible health care for America’s middle class and control the spiraling costs of health care through innovative reforms.
As the legislative process moves forward, we will continue to look for ways to squeeze more savings out of the system.”