The Congressional Budget Office released a new number on the revamped (rehashed) health care bill, and it will not increase the budget deficit one red penny. So, the committee vote is supposed to be tomorrow, and the floor vote could be Tuesday. I’m turning blue with anticipation…

But, what the headlines don’t say is that the $829 billion plan will increase in the deficit, BUT the increases will be offset with a ” series of fees on insurance companies, drug makers, medical device manufacturers and other sectors of the health industry,” including 40% tax hike on high premium insurance plans which will inevitably be passed on the plan participants, and additional reductions in Medicare. Oh, and those “fees” (code for taxes), according to the report, would begin essentially immediately, and the plan wouldn’t begin until 2013 – two full years of tax revenues before the plan takes place. And, there are additional revenues made available through the individual mandate – everyone will be required to have health insurance or pay a tax penalty.

Like I said… blue with anticipation.

Download the report here (PDF).

High five to Michael Tanner.