Universal Health Care in President's Budget

Amanda Carpenter | February 25, 2009 4:10 PM

President Obama's soon-to-be released budget will reportedly contain $634 billion to pay for universal health care.

The Washington Post is describing this as a "developing" story. These are all the details for now:

President intends to release a budget tomorrow that creates a 10-year, $634 billion "reserve fund" to partially pay for a vast expansion of the U.S. health system, an overhaul that many experts project will cost as much as $1 trillion over the next decade.

Obama would pay for the expansion by trimming tax breaks for the wealthy and tightening payments to insurers, hospitals and physicians, according to a senior administration official.