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White House Office of Management and Budget Director Peter Orszag attempted Wednesday to mitigate cost concerns surrounding the Senate’s health care reform legislation, explaining that significant measures have been put in place to ensure fiscal responsibility.

“The bottom line is the bill that is currently on the Senate floor contains more cost containment ... than any bill that has ever been considered on the Senate floor. Period,” said Orszag during a media breakfast hosted by health policy journal Health Affairs.

One key cost containment measure outlined in the Senate bill is the establishment of an independent commission dedicated to reducing Medicare costs. Orszag noted that while he was pleased the committee was included, it could eventually be strengthened.

Orszag reminded reporters that both the House and Senate bills are being subjected to paygo provisions, which means that costs from the bills will be offset by making reductions elsewhere.

The director took issue with the amount of attention the public option has received in the health care reform debate and expressed concern that Americans may be neglecting more important issues addressed by reform, such as regulations arising from the exchange that will provide more competition among insurance providers and ultimately lower premiums.