CBO: Senate bill $1 trillion over 10 years

CBO: Senate bill $1 trillion over 10 years:

"WASHINGTON -A leading health care bill under consideration in Congress would cost the government an estimated $1 trillion over the next decade and reduce the ranks of the uninsured by about one-third, or 16 million individuals, congressional budget officials said Monday in a preliminary estimate.

In a letter to Sen. Edward M. Kennedy, D-Mass., Congressional Budget Office Director Douglas W. Elmendorf said the estimate was based on major provisions contained in an incomplete draft of the bill. He noted that 'taking all of its provisions into account could change our assessment of the proposal's effects on the budget and insurance coverage rates though probably not by substantial amounts relative to the net costs already identified.'

The CBO released its preliminary estimate as several congressional committees looked ahead to votes on legislation that President Barack Obama has placed atop his list of domestic priorities, and the chief executive appealed to the nation's doctors for support. Appearing in Chicago, Obama drew boos when he told the American Medical Association he opposes caps on damages that juries or judges may award in medical malpractice cases.

Ironically, several hours later, key House Democrats unveiled a plan to pour nearly $300 billion into increased physician payments in Medicare over the next decade. Under current law, doctors face a steep, 21 percent cut in Medicare fees in January, and further reductions in each of the next four years."