CBO Finding: Dem Bill with Public Option Reduces Deficit

Congressional Budget Office finds Dem health care bill with public option would cost $871 billion over ten years

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A new House health care bill, which includes a public option, looks to cost $871 billion over ten years time. The aforementioned figure, according to the CBO, would reduce the deficit in that time. From CNN:

This new CBO estimate, which aides caution is not final, is significantly less than the $1.1 trillion price tag of the original House bill that passed out of three committees this summer. More importantly, it comes under the $900 billion cap set by President Obama in his joint address to Congress last month.

CBO analyzed what House Speaker Nancy Pelosi calls a "more robust" public option -- one that ties reimbursement rates for doctors to current Medicare rates, plus a 5 percent increase.

At a meeting with House Democrats on Tuesday night, Pelosi did not release CBO's preliminary numbers, but told members that CBO told leaders the House bill would cost well below $900 billion. Aides say final CBO numbers could be released on Wednesday.

At this point, The Buzz no longer knows what to think.