Will health care reform knock $1 trillion off deficit?

President Barack Obama continued to promote Democratic proposals to reform health care during his State of the Union address. He rebutted charges that it costs too much and pointed out that budget experts believe it could reduce the deficit.

“It would reduce costs and premiums for millions of families and businesses,” Obama said. “And according to the Congressional Budget Office -– the independent organization that both parties have cited as the official scorekeeper for Congress –- our approach would bring down the deficit by as much as $1 trillion over the next two decades.”

We examined his claim and found he was relying on some shaky long-term estimates.