CBO has a reputation for being very conservative in their estimations. So this is especially good news.
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The Obama administration has done little to disguise its delight at the approval of the Senate finance draft on Wednesday night by the independent Congressional Budget Office, which put the bill’s costs at $829bn over 10 years, well below the White House’s self-imposed $900bn (€612bn, £566bn) ceiling.The CBO also estimated the bill would reduce the US fiscal deficit by $81bn in its first decade and by between a half and a quarter of a percentage point of gross domestic product in its second decade – a moral victory for a White House increasingly concerned to project a fiscally conservative reputation.
