Ex-CBO Chief Douglas Eakin: Obamacare Likely to Cost Nation Trillions

Friday, 15 Nov 2013 05:55 PM

By Bill Hoffmann

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Even when the Affordable Care Act's botched website is fixed, the healthcare law faces insurmountable odds and stands to cost the nation trillions of dollars, according to Douglas Holtz Eakin, former director of the Congressional Budget Office.

"I've been worried about since it passed … the lavish subsidies they have. And pretty soon nearly every employer in America gives up on the idea of providing health insurance and they all end up dumping their employees into the exchanges," Eakin told Joe Concha, guest host of "The Steve Malzberg Show" on Newsmax TV.

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"We can't afford that, that's trillions and trillions of dollars … and we just fall under its fiscal weight."

Eakin, now president of the American Action Forum, believes President Barack Obama "has a culture around him that doesn't tell him bad news that he needs to know."

"It's caused him tremendous political problems and personal pain, obviously, in this instance. But it should have been the case that people were waving flags and saying, we have a problem with the website," he said.

"I worked in two White Houses and I could not imagine that on the president's signature initiative he was not fully informed of the state of play. That's remarkable to me."

See "The Steve Malzberg Show" on Newsmax TV each weekday live by clicking here now.

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