KeithHennessey.com

In a letter to House Majority Leader Steny Hoyer, CBO estimated the President’s “IMAC” Medicare council proposal would save only $2 billion in the short run, and would generate only “modest savings” in the long run. CBO’s letter killed the President’s IMAC proposal, which probably would have died anyway.

CBO says a part of the Kennedy-Dodd bill would cost more than $1.3 trillion over 10 years and insure 16 million more people. When the policy is in full effect in 2015, half the people who would receive subsidies already have private health insurance, and taxpayers would pay more than $9,000 per newly insured person.