Federal Deficit, Health Care Reform | featured news

"In another attempt to re-fight the battles of the past, one former Bush administration official is wrongly claiming that some of the savings in the Affordable Care Act are 'double-counted' and that the law actually increases the deficit," said Jeanne Lambrew, a deputy assistant to the president for health policy. "This claim is false."

President Obama’s landmark health-care initiative, long touted as a means to control costs, will actually add more than $340 billion to the nation’s budget woes over the next decade, according to a new study by a member of the board that oversees Medicare financing.

An effort by Republicans in the House of Representatives to repeal the healthcare law enacted last year would add to already huge federal budget deficits, the Congressional Budget Office warned on Thursday.

President Obama guaranteed Thursday that his health care overhaul will win approval and said any bill he signs will have to reduce rapidly rising costs, protect consumers from insurance abuses and provide affordable choices to the uninsured — while not adding to the federal deficit.

President Obama vowed on Saturday to reject any health legislation that would run up the federal deficit.