CBO:Obamacare Leads To More Spending And Higher Taxes

WASHINGTON, D.C. - Fresh on the heels of news that one in ten U.S. employers http://edworkforce.house.gov/Components/Redirect/r.aspx'ID=274608-14216077 will soon drop health care coverage for workers as a result of the job-destroying health care law, the Congressional Budget Office (CBO) released a new report illustrating ObamaCare's devastating impact on American families and taxpayers.

According to the report, the health care law that President Obama promised http://edworkforce.house.gov/Components/Redirect/r.aspx'ID=274610-14216077 would lower costs will lead to more government spending and higher taxes on working families and job creators:

*$117 billion tax increase on job creators for failing to provide government approved health insurance;

*$55 billion tax increase on Americans who fail to purchase government approved health insurance;

*4 to 6 million fewer workers with health insurance through an employer;

*$111 billion in higher taxes on health insurance plans that exceed arbitrary premium limits set by Washington Democrats; and

*$1.7 trillion in spending to fund a government takeover of health care through 2022.

At a time when Washington D.C. is already running trillion dollar deficits, today's report confirms ObamaCare is a government takeover workers, employers, and taxpayers simply cannot afford.