Skyrocketing Healthcare Costs Under ObamaCare
Hurry, hurry...everybody get on the government dole! Wisconsin Senator Ron Johnson writes in the WSJ that Obamacare's costs are soaring:

This would not be the first time a government program exceeded its projected cost. When Medicare was passed in 1965, for example, the federal government estimated it would cost $12 billion in 1990. Medicare actually cost $110 billion in 1990.

In the case of ObamaCare, one of the principal sources of the lowball estimate used to justify the law is related to the insurance exchanges. The CBO originally estimated that one million Americans would lose their employer-sponsored care and be forced into the exchanges.

But a McKinsey & Co. study in June 2011 showed that 30%-50% of employers plan to stop offering health insurance to their employees once the health law is implemented in 2014. Last week the CBO breezily dismissed this and other studies on the ground that "it is doubtful that any survey conducted today could provide very accurate predictions of employers' future decisions."

As someone who purchased group health insurance for over 31 years, I fully understand why the McKinsey study is more credible than the CBO.

Why? Because the decision employers face under ObamaCare is straightforward: Do they pay $20,000 per year for family coverage, or do they pay the $2,000 penalty to the government?

It is not as if dropping health coverage will expose their employees to financial risk. They will thereby make employees eligible for huge subsidies in the health-care exchanges--$10,000 if their household income is $64,000 per year. In a competitive environment, ObamaCare provides the incentive for employers to drop coverage.