$60 billion dollars in new deficit spending.
That’s the amount the Heritage Foundation, a public policy research institute based in Washington D.C., estimates the Senate bill to reauthorize the State Children’s Health Insurance Program (SCHIP) will have added to the U.S. budget deficit over the next decade [1-2]. Under the bill, funding will drop sharply in 2013 (see the graph below). Assuming a 6% annual spending increase will be required to maintain current enrollment from 2012-2017, the program will require $84.3 billion rather than the $25.6 billion included in the bill.
The House bill has an even greater cost. According to the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT), the U.S. House of of Representatives SCHIP bill would add $72.9 billion dollars to the U.S. budget deficit for the 2008-2017 period .