CBO Cuts Cost Estimate for Obama Healthcare Law

Barack Obama

Congressional Budget Office

The estimated net costs of expanding healthcare coverage under President 's landmark restructuring have been reduced by $48 billion through 2021, though fewer people would be covered under private insurance plans, a new analysis from the nonpartisan showed on Tuesday.

The CBO also revised its overall federal budget deficit estimates to show a $92 billion increase in the projected fiscal gap for 2012, confirming a fourth straight year of $1 trillion-plus deficits.

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Source: Chicago Tribune