Politics

Health Insurance Reform Daily Mythbuster: Impact on the Deficit

By Karina

Health insurance reform opponents, including Republican Congressman Mike Pence of Indiana, continue to spread myths about America?s Affordable Health Choices Act?s effect on the deficit.

Myth: “The American people know what government-run health care will mean: ? bigger deficit…” ? Congressman Mike Pence, 7/28/09

Fact: The nonpartisan CBO found America?s Affordable Health Choices Act is deficit neutral.

The CBO released estimates confirming that the health insurance reform policies of America?s Affordable Health Choices Act are deficit-neutral over the 10-year budget window — even producing a $6 billion surplus. CBO estimated that the cost of the bill?s insurance reforms was $1.042 trillion, while the bill?s cost savings and revenues totaled $1.048 trillion:

CBO estimated that these reforms will provide affordable coverage for 97 percent of Americans two years after the program starts.

In addition, the President has said:

I’ve also pledged that health insurance reform will not add to our deficit over the next decade. And I mean it? [health insurance reform] will be paid for.

Full post as published by The Gavel on August 05, 2009 (boomark / email).