Number of Americans Losing Benefits Due to Obamacare Is Twice Original Estimate
The government's own Congressional Budget Office says the number who will lose their health care from President Obama's health care reform has doubled.Whoops! When Obama first laid out the Affordable Health Care Act, the thousands-plus page bill claimed only about 3.5 million Americans would see their benefits go away due to the penalties levied against businesses.
Now the CBO says that number will be closer to seven million. These people will be forced out of their health care -- even if they don't want it to go -- because employers are facing taxes and penalties forcing them to offer benefits to fewer workers. Companies will cut pay rolls, reduce hours and curb expenses to prepare for Obamacare. These cuts will push out the seven million.
These businesses will be forking over $13 billion in higher fees over the next ten years. It is interesting to note that President Obama kept hammering during the debate over Obamacare that Americans would be able to keep their existing health care.