CBS: Obamacare's Problems Threaten 'Credibility Death Spiral' for Obama

CBS News' political director John Dickerson reported on CBS This Morning that President Obama may be facing a "credibility death spiral" over the embarrassing failure of his signature law.

Saying that the problems with Obamacare are "far worse than a glitch," Dickerson reports that "The problem here is that the administration to get into, sort of, a credibility depth spiral. There have always been charges from the right that the president’s health care promises didn’t turn out to be true. But then some of those charges turned out to have some merit.”

Even in criticizing Obamacare, Dickerson downplayed its problems. Obama promised Americans that passing Obamacare would make health insurance more accessible and more affordable, and that if we liked our current health plans and doctors, we could keep them. Millions of Americans are finding out that none of those promises have been kept.

Dickerson did add that if the Obamacare website's problems aren't resolved, they could jeopardize the likelihood of younger Americans signing up for it. If younger Americans don't sign up for Obamacare, they won't provide the money to subsidize coverage for other. The law depends on them essentially signing up to have their money stolen from them.

Once they can sign in, sticker shock may also persuade millions of younger Americans not to buy health insurance until they actually need it.

Watch the CBS report here.