Breaking news. This afternoon, the Congressional Budget Office (CBO) issued a letter to Senate Finance Chairman Baucus (D-MT) regarding the cost of his health reform proposal (or Chairman's Mark). The CBO concluded that the bill would increase federal spending by $829 billion over 10 years but would be offset by enough spending cuts and tax increases to reduce the budget deficit by $81 billion over 10 years.
The fact that the plan does reduce the deficit over the next 10 years means that it meets a key objective for health reform and the Finance Committee will now move to consideration of their final bill perhaps this week but more likely next week.
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