Assessing the Baucus bill

A lot of hay is being made over CBO projections that the Baucus health care bill will reduce the budget deficit. Michael Cannon, however, points out the $829 billion figure being bandied about does not include billions in additional federal spending nor the cost of unfunded mandates. Michael Tanner meanwhile notes that the bill amounts to a substantial tax increase.

Update: And here's Keith Hennessey's take.