Politico: Barack Obama Touts Health Care Cost-cutting Pledge

From The Politico: President Barack Obama on Monday touted a health industry cost-cutting pledge as a breakthrough in his push to provide coverage for all Americans – but some health reform advocates remained deeply skeptical, saying they fear the industry is trying to shortcut a public insurance plan.

"This is a historic day, a watershed event in the long elusive quest for health care reform," Obama said during a speech in the State Dining Room, where he was flanked by leaders of the groups. “All Americans must have quality, affordable health care. These are principles that I expect to see upheld in any comprehensive health care reform bill that's sent to my desk.”

The groups that joined Obama at the White House today are vowing to reduce the rate of projected growth in health care costs by 1.5 percentage points a year over the next decade for a total savings of $2 trillion.

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