The non-partisan Congressional Budget Office has just released its initial cost estimates on the Democratic health care proposal coming out of the Senate Health, Education, Labor and Pensions Committee chaired by Ted Kennedy, and found that it would increase deficits by at least $1 trillion.

In addition, the CBO report undercuts President Obama's insistence that those who like the coverage they have can keep it, as it projects millions of Americans would lose their current coverage:

  • When fully implemented, about 39 million individuals would obtain coverage through the new insurance exchanges. At the same time, the number of people who had coverage through an employer would decline by about 15 million (or roughly 10 percent), and coverage from other sources would fall by about 8 million, so the net decrease in the number of people uninsured would be about 16 million or 17 million.