Pelosi: Health Care Bill "Best Initiative" for the Economy

AP

Updated at 2:10 p.m. ET

House Speaker Nancy Pelosi today outlined the changes to the Democrats' health care reform overhaul, praising the reform package for bringing down the deficit according to a nonpartisan estimation.

"They say a picture is worth a thousand words," Pelosi said. "Well, a number is worth a lot, too."

The Congressional Budget Office earlier today released a preliminary report saying the bill would cost $940 billion over 10 years, but would also cut the federal deficit by $130 billion in its first 10 years and by $1.2 trillion in its second 10 years.

"The best initiative we can take to improve jobs, strengthen our economic security, is to pass health care reform," Pelosi said. "We will make progress by passing this legislation."

The new reform package amends the Senate health care bill through a separate, reconciliation "fix it" bill that addresses some of the problems House Democrats had with the Senate bill (The 153-page reconciliation bill is available here). The changes, Pelosi said, include:

• "More affordability for the middle class" through increased subsidies for people to purchase insurance

• Closing the "doughnut hole" gap in Medicare prescription drug coverage entirely

• Corrections to "state inequities" such as the "Cornhusker kickback" deal that exempted the state of Nebraska from having to pay for any expansion of Medicaid

• Funding for primary doctors who handle Medicaid cases

• Increased insurance regulations

• Changes to the "Cadillac" excise tax on high-end insurance plans so it hits fewer people. "I call it the platinum Rolls-Royce" tax, Pelosi said.

The cost of the new legislation came under attack from Republicans today. "Every time a new iteration of the Democrats' health-care bill is unveiled, the price tag goes up," Senate Republican Whip Jon Kyl (Ariz.) said in a statement. "The only thing that remains the same is that the American taxpayer will be on the hook to pay for it."

However, Democrats said earlier today the bill if fully paid for and that nearly two-thirds of the bill's cost is paid for by reducing health care costs. Pelosi said the majority of funding for the bill would come from reducing waste and fraud in Medicare. The rest of the money, she said, would come from the excise tax and a "fee" on unearned income.

• Quick Poll

Will President Obama line up the votes in the House to pass health reform?
 Yes
 No
 Too Close to Call

While Democratic leaders praised the CBO estimations of the bill, it is unclear whether the new figures will be enough to convince enough Democrats to get on board to pass the legislation.

"Every vote around here is a heavy lift," Pelosi said. "We have great diversity in our caucus. We don't have a rubber-stamp Congress or rubber-stamp caucus."

Pelosi blamed the hesitation of some Democrats to support the measure on the opposition tactics employed by Republicans.

"It does show also the impact of a campaign of misrepresentation, of fear," she said. "There is no limit to what the other side will do to protect the insurance companies."

Pelosi today also defended the "deem and pass" or "Slaughter solution" method by which the House plans to pass both the Senate bill and the reconciliation bill. Under that plan, the House would only have to vote once for both bills -- a method that has been used by both parties numerous times but that Republicans now call an outrage.

The speaker said the GOP outcry was another example of their extreme obstructionist tactics.

"The fact is, what we're talking about here is the regular order that has been used hundreds of times," Pelosi said. "The American people should know this is what they're going to see a full menu of in the next couple of days -- mischaracterizations, misrepresentations."

More Coverage of the Health Care Reform Debate:

Stupak's Life a "Living Hell" because of Abortion Position
Dem Health Care Bill Pegged at $940B Over 10 Years
Temperature Rising for Health Care Votes
Health Care Passage Plan Unconstitutional?
Obama Pushes Health Care Bill in Combative Fox Interview
Idaho to Sue If Health Care Bill Passes
Republicans Have Used "Slaughter Solution" Many Times
Dennis Kucinich to Vote Yes on Health Care
Obama's Health Care Plan: What Do You Think?
CBSNews.com Special Report: Health Care

[6591Hou]

"The new package also promises new aid for colleges serving minority students, using money the government is supposed to save by no longer paying banks to make student loans. Included are annual payments of $100 million for schools with large numbers of Hispanic students, the same amount for colleges with many black students, and millions more for schools with large numbers of native Americans and other minorities."

CBS is reporting this under a different headline, some of the things added to the health care bill....

[lionluke]

This is not the best health care reform bill but it is a good start. I would have liked a public option. Being a parent of three out of five children with a genetic pre-existing condition I can breath easier if any of them lose their current job and their healthcare. We have always had good insurance but had our eyes open when our youngest daughter had heart surgery and saw all the parents who didn't.

[gboyd41]

Is plastic surgery covered? On second thought, if that face is the result of govt. funded plastic surgery results-I'll pass.

[jgg000101]

this woman is a freaken lunatic, and whoever described her as a "scrotum stretched over a doorknob" was dead-on. I thought this bill was about healthcare. Now it's also a savior ffor the economy? How many future doctors are going to switch careers? and how many current doctors are going to stop practicing when the government dictates how much they can make and how many more patients they are going to have to see.

[gboyd41]

jgg-Don't worry, you will have plenty of "C" students to replace them.

[lionluke]

Yes, this is about the economy. If all your money goes for health care you have nothing left to spend.

[hateisafourletterword]

And government cost estimates are always wildly overstated right Nancy. If the U.S. says something will cost $100 billion, it usually only costs $75 billion when we get the final numbers. Cost overruns never occur in the government world, except when democrats want to diss military spending of course.

[lionluke]

Republicans never counted the cost of war in their budget.

[tsigili]

Now there's some real BS.

[inketolstoy]

Well, if Nancy says it, it must be true. We will just have to find another way to spend even more money in order to keep that debt growing. How about a cash-for-liars program. We can bail out our always cash strapped politicians. Now that is a bill that would put the bi back in bipartisan support.