-By Warner Todd Huston
The Congressional Budget Office has said that only about 7% of employers will drop their own company-offered plans and enter the new government plans that Obamacare will feature when the crap hits the fan in 2014. This small percentage, though is likely untrue. More likely it will be somewhere around 30% — or higher — costing the federal gov’t $466 billion in the first decade alone just for the costs of those joining the gov’t exchanges.
Reason TV’s Nick Gillespie has the scary, budget-busting details in the following video.
Nick interviews Glen Morton, author of Passing ObamaCare, which reveals the boondoggle that Obamacare will be. Morton feels that “ultimately everyone” will end pin the gov’t exchanges and will not have private insurance costing the gov’t (and all of us) trillions of dollars.
We cannot afford this mess. Obamacare must be eliminated.