The Congressional Budget Office (CBO) confirmed that the federal government will have to spend an additional $115 billion implementing the law, bringing the total estimated cost to over $1 trillion. The estimate had been requested before passage of the bill by Rep. Jerry Lewis (R-CA), but the CBO was too overwhelmed with the Democrats’ other constant revisions to the law to get back to Lewis before the final vote.
This is by far not the only nasty little surprise that has come back to bite Obamacare after passage. Shortly after it became law, U.S. employers began reporting hundreds of millions if dollars in losses thanks to tax changes in the bill. AT&T and Verizon alone pegged their Obamacare tax losses at around $1 billion each. At first, Democrats in Congress were outraged by the announcements and threatened to hold hearings persecuting these companies. But then the Democrats not only found out the companies were obligated by law to report their Obamacare related losses, but that the losses were a signal these companies might have to dump their employees’ and retirees’ health care coverage all together.
Oops. It is also projected that 18 million Americans will remain uncovered by insurance despite this bill. The US population is only around 307 million, which means that more than 5% of the people will be penalized without any benefits whatsoever.
Obamacare isn’t working. Amazing. Phenomenal. Who knew?! *roll*
Submitted by
Chris on
... is that sarcasm?
Submitted by
netwiz on
...so do the liberal democrats: send everything to them and they’ll send you what’s appropriate for you to have. Makes for a much shorter bill.
Submitted by
Carrie on
I had put all my faith and trust in this new bill…. especially after seeing how wonderfully it worked in Massachusetts!! *cough*
Submitted by
Chris on
Lol! 5% is down from the MA rate of uninsured people. That’s progress. =D
Submitted by
Carrie on
If that’s the best progress they can come up with…. we’re in big trouble.
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​Chris is a software developer, aviation student and reclusive cave-dweller. In his spare time he enjoys taking long hikes and reading. Some of his friends have come up with the funny notion that he wants to live on locusts and wild honey. Go figure.
Comments
Submitted by Carrie on
Obamacare isn’t working. Amazing. Phenomenal. Who knew?! *roll*
Submitted by Chris on
... is that sarcasm?
Submitted by netwiz on
...so do the liberal democrats: send everything to them and they’ll send you what’s appropriate for you to have. Makes for a much shorter bill.
Submitted by Carrie on
I had put all my faith and trust in this new bill…. especially after seeing how wonderfully it worked in Massachusetts!! *cough*
Submitted by Chris on
Lol! 5% is down from the MA rate of uninsured people. That’s progress. =D
Submitted by Carrie on
If that’s the best progress they can come up with…. we’re in big trouble.