The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
Mention "Obamacare" and most Americans are likely to think of President Obama's May 2009 declaration that "if you like your present health plan, you can keep it."
Now it turns out "millions of Americans are getting or are about to get cancellation letters for their health insurance under Obamacare, say experts, and the Obama administration has known that for at least three years."
A seismic disturbance?
That's according to an NBC News investigation by reporters Lisa Myers and Hannah Rappleye.
Myers is a widely respected senior investigative reporter with NBC who covered the White House for the Washington Star before moving into broadcast journalism.
Rappleye is an independent investigative journalist who lists on her LinkedIn page her membership in the George Soros-funded Open Society Foundation.
A devastating blow
As significant as where it comes from, however, what makes the NBC report especially significant is its substance, which undermines Obama's credibility on the central claim in his campaign for Obamacare:
"Four sources deeply involved in the Affordable Care Act tell NBC NEWS that 50 to 75 percent of the 14 million consumers who buy their insurance individually can expect to receive a 'cancellation' letter or the equivalent over the next year because their existing policies don't meet the standards mandated by the new health care law.
"One expert predicts that number could reach as high as 80 percent. And all say that many of those forced to buy pricier new policies will experience 'sticker shock,'" according to Myers and Rappleye.
What they knew and when
Myers and Rappleye found an estimate buried in Department of Health and Human Services' Obamacare regulations that as many as 67 percent of people who buy their health insurance through the individual market would lose their coverage.
Yet, until this week neither Obama nor any of his spokesmen qualified the claim that people would be able to keep coverage they like.
Imagine that, a Washington professional politician claiming one thing all the while knowing that virtually the exact opposite was the truth?
In today's Washington Examiner
Editorial: Feds push hiring quotas for women and minorities, despite explicit ban on quotas in Civil Rights Act of 1964.
Ron Arnold: CitizenAudit exposes the funding behind Big Green's Colorado 'netwar.'
Luke Rosiak: LEED certification doesn't guarantee a 'green building.'
Cal Thomas: Hey, GOP, it's time to put on a happy face.
Gene Healy: Healthcare.gov may not work, but the National Security Agency does.
Sean Higgins: Big Labor's massive resistance to right-to-work laws hurts employees.
Susan Crabtree: After new spying outrage, Obama declassifies batch of NSA documents.
David M. Drucker: Obama's campaign group polling supporters on Obamacare.
In other news
The Washington Post: Obama was unaware of spying on foreign leaders.
The New York Times: Two House bills said to favor Wall Street.
The Los Angeles Times: Health care law also faces plenty of low- tech problems.
CNN: Obamacare and spying -- What did Obama know and when did he know it?
Christian Science Monitor: America's 'other healthcare revolution.'
The Telegraph (UK): Tony Blair sees problem with career politicians.
NRO/Victor Davis Hanson: Is he still president?
American Thinker: Healthcare.gov has a big EDI problem.
Carolina Journal: Obamacare to have modest effects on state health plan.
Talking Points Memo: White House denies Feinstein claim of no more surveillance against foreign leaders.
Harper's: A beautiful truth.
Mother Jones: Who's really behind Campbell Brown's latest venture?