Devastating news. Douglas Elmendorf, director at CBO, told congress yesterday that the health care legislation would significantly increase deficit rather than save money.
This is getting reported on MSNBC now, but I see nothing here discussing this.
WASHINGTON (Reuters) - Congressional Budget Office director Douglas Elmendorf told lawmakers on Thursday legislation to expand health care coverage would increase federal healthcare costs "to a significant degree" and revenue will need to be found to keep from increasing the deficit.
There are savings that are very hard to articulate, but rethugs are using this report to pummel the healthcare bill.
Elmendorf told the panel, "The coverage proposals in this legislation would expand federal spending on health care to a significant degree and in our analysis so far we don't see other provisions in this legislation reducing federal health spending by a corresponding degree."
mcjoan has a diary on the front page with more details