By Elizabeth Harrington | Washington Free Beacon
Obamacare is adding billions in economic costs and millions of paperwork hours, according to a new report released on Monday.
To mark the anniversary of Obamacare, which became law on March 23, 2010, the American Action Forum released a report finding that the law’s regulatory burdens are twice as great as its benefits.
“After four years of implementation, countless delays, a website disaster, and constant litigation, the Affordable Care Act (ACA) celebrates its inauspicious birthday this week,” the report said. “From a regulatory perspective, the law has imposed more than $27.2 billion in total private sector costs, $8 billion in unfunded state burdens, and more than 159 million paperwork hours on local governments and affected entities.”
“What’s more troubling, the law has generated just $2.6 billion in annualized benefits, compared to $6.8 billion in annualized costs,” it said. “In other words, the ACA has imposed 2.5 times more costs than it has produced in benefits.”
at Washington Free Beacon.
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