Deficit Responsibility
No deficit spending. The cost of health care reform under the legislation is fully paid for, in large part by eliminating waste, fraud, abuse, and excessive profits for private insurers. Indeed, the non-partisan Congressional Budget Office (CBO) has found that this legislation will provide coverage to 32 million more people, or more than 95% percent of Americans, while lowering health care costs over the long term. It is expected to reduce the deficit by $143 billion over the next ten years, with $1.2 trillion in additional deficit reduction in the following ten years.
As some prominent economists have noted the new health reform may reduce costs by up to $600 billion over the next decade. For example, please click here to read a Wall Street Journal piece on this subject by Professor of Economics at Harvard University David M. Cutler.
