CBO: Obamacare will cause 7 million Americans to lose their health insurance

"If you like your existing health coverage, you can keep it." That was one of many lies the Obama administration told the American public during the Obamacare debate.  Now, the CBO is estimating that 7 million Americans will lose their health insurance because of Obamacare.

from Washington Times:

President Obama’s health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.

CBO said that this year’s tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they’ll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade.

But the non-partisan agency also expects fewer people to have to pay individual penalties to the IRS than it earlier projects, because of a better method for calculating incomes that found more people will be exempt.

Overall, the new health provisions are expected to cost the government $1.165 trillion over the next decade — the same as last year’s projection.

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The American people voted for this…twice.  I wonder how it feels to lose your health insurance after believing that you would get “free healthcare.” 

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