Betsy McCaughey has more from that devastating CBO report:
The CBO report devotes an entire chapter to the nation’s newest entitlement, ObamaCare, presenting three distressing facts on the programs next five years:
• The cost of subsidies on the exchanges will more than triple, from $32 billion to $106 billion in 2020.
• Over the same period, federal Medicaid costs (also goosed by the ObamaCare law) will double.
• Despite all the spending, 30 million people will still be uninsured. That’s more than the number the law helps.
Worst of all is this new CBO prediction: Some 9 million to 10 million people will lose their employer-provided coverage in the next three years. Some will wind up on Medicaid, others in subsidized exchange plans.
It’s all about getting people onto the exchanges, where more control may be exerted from Washington — along with more taxpayer-subsidized goodies. It’s a trillion-dollar way to reward friends and punish enemies, which was the entire point from the start.
That Means It’s Working™