ABC News' Jon Karl reports:
When Speaker of the House Nancy Pelosi, D-Calif., unveiled her health care bill today, House Democrats circulated a bill summary saying it costs $894 billion, allowing Pelosi to say the bill, “meets President Obama's call to keep the cost under $900 billion over 10 years.”
But the total cost of the bill is $1.055 trillion.
How did they get the lower number?
They took the $1.055 trillion total cost and subtracted the amount of money that was estimated to come in from people and companies that pay fines for not having or not providing health insurance (more than $160 billion), giving a new “net” cost of $894 billion.
By using that method of accounting, the “net” cost of a bill that passed the Senate Finance Committee is $518 billion over 10 years. The actual cost of the Finance bill, as widely reported and cited by Senate Finance Committee Chairman Max Baucus, D-Mont., was $829 billion.