And you thought all talk of a public option health insurance plan was dead. But no, Rep. Pete Stark (D-Calif.) asked the Congressional Budget Office to crunch the numbers on a public plan, funded by premiums, not taxes, and they found the following:
“The Congressional Budget Office (CBO) estimates that the public plan’s premiums would be 5 percent to 7 percent lower, on average.”
“CBO and the staff of the Joint Committee on Taxation (JCT) estimate that the proposal would reduce federal budget deficits through 2019 by about $53 billion.”
The next year would probably save another $15 billion, for a total of $68 billion shaved off the deficit by 2020.
So maybe talk of a public option should be revived. At least, if you’re a deficit hawk.