Obama/PelosiCARE House Health Bill costs $1.2 Trillion

Fox News has learned from numerous Democratic officials that the PelosiCARE House health care bill that might be voted on by the house by the end of this week costs $1.2 trillion or more over a decade, according to and figures contained in an analysis by congressional budget experts, far higher than the $900 billion cited by President Barack Obama as a price tag for his reform plan. While the CBO has put the cost of expanding coverage in the legislation at roughly $1 trillion, Democrats added billions more on higher spending for public health, a reinsurance program to hold down retiree health costs, payments for preventive services and more. More from the above linked story:

Many of the additions are designed to improve benefits or ease access to coverage in government programs. The officials who provided overall cost estimates did so on condition of anonymity, saying they were not authorized to discuss them.

House Speaker Nancy Pelosi has referred repeatedly to the bill’s net cost of $894 billion over a decade for coverage.

Asked about the higher estimate, Pelosi spokesman Brendan Daly said the measure not only insures 36 million more Americans, it provides critical health insurance reform in a way that is fiscally sound.

“It will not add one dime to the deficit. In fact, the CBO said last week that it will reduce the deficit both in the first 10 years and in the second 10 years,” Daly said.

Democrats have been intent on passing legislation this year to implement Obama’s call for expanded coverage for millions, curbs on industry abuses and provisions to slow the rate of growth of health care costs nationally.

“Now, add it all up, and the plan I’m proposing will cost around $900 billion over 10 years,” the president said in a nationally televised speech in early September.

Whatever the final cost of legislation, the calendar is working increasingly against the White House and Democrats. While a House vote is possible late this week, Senate Majority Leader Harry Reid, D-Nev., may not be able to begin debate on the issue until the week before Thanksgiving. Additionally, the Republican leader, Sen. Mitch McConnell of Kentucky, has hinted at efforts to extend the debate for weeks if not months, a timetable that could extend into 2010.

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November 2, 2009 · Filed Under ObamaCARE

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