Budget office: Dems health care bill cuts deficit

WASHINGTON — Congressional budget scorekeepers say President Barack Obama’s health care bill would reduce the federal deficit by $138 billion over 10 years.

The Congressional Budget Office said today the $940 billion legislation would provide coverage to 32 million people now uninsured by 2016, bringing the total number of insured to about 95 percent of eligible Americans.

The budget office said the measure would continue to reduce the federal deficit in its second decade, although such projections are uncertain. Key to the long-term savings are changes that appear designed to attract support from fiscal conservatives. They include accelerating the impact of a tax on high cost insurance, and slowing the growth of subsidies to make insurance premiums more affordable.