On the recordMarch 12, 2012
It is $100 billion here, $100 billion there, and it starts adding up to real money, doesn't it. And so people don't think these 90 million people getting dropped from their employer coverage is a fantasy, it is not. It is realistic. I bought health care for the last 31 years, and the decision an employer is going to make is going to be easy. It is not going to be a complex management decision. Because of the health care law, an employer is going to be faced with saying: OK, I can pay $15,000 for family coverage or I can pay the $2,000 penalty. And because of the health care subsidies, they are not exposing their employees to financial risk, they are making them eligible for huge subsidies. If a household earns $64,000, they will be eligible for a $10,000 subsidy through those exchanges. Now, I know that probably sounds pretty good, but the problem is, when we are already running $1.3 trillion a year deficits, we can't afford to add another $\1/2\ trillion per year to those deficits, if that were to happen. We simply can't afford it.
