Yesterday, the non-partisan Congressional Budget Office (CBO) released a report on the President’s health care law that contained more bad news for the American people and our economy. According to CBO, this law will cost nearly $2 trillion, up almost a trillion dollars from last year’s estimates. In addition, CBO reported that ObamaCare will cover 2 million fewer than the President promised. Despites its massive price tag and cuts to Medicare, the new law cannot even ensure coverage for all Americans. The law is also forcing more than 30 million new enrollees into Medicaid, a program that is so mismanaged and fraught with abuse that it is unsustainable as it is, even without this influx of new participants.
Additionally, as many as 4 million Americans, almost 4 times as many people as the President initially claimed, stand to lose their employer provided coverage by 2016. Apparently, despite the President’s claims of flexibility, just because you like your current healthcare plan doesn’t mean you get to keep it.
March 23 marks the 2 year anniversary of ObamaCare, and with each day and each new report that comes out, it becomes clearer that this law is wrong for America. We must repeal and replace it with meaningful health reform that will actually reduce the cost of health care and provide coverage for all Americans.