Mr. THOMPSON of Pennsylvania. Mr. Speaker, just last week the nonpartisan Congressional Budget Office served a devastating blow to President Obama's most frequently uttered promise during debate over the Affordable Care Act: ``If you like your present coverage, you can keep it.''
The CBO predicted the law would lead to a net loss of employer-based insurance coverage for between three and five million people each year between the years of 2019 and 2022, with as many as 20 million Americans losing their current insurance plans.
Now, as we approach the second anniversary of the Affordable Care Act, the full impact of this law remains unknown. However, a few things are quite clear. Supporters said it would lower costs. It hasn't. They said it would improve quality. It hasn't. The President said you can keep your current plan if you like it. This clearly is not the case.
By the administration's own estimates, the new health care regulations will force most firms, and up to 80 percent of small businesses, to give up their current plans by 2013.
Mr. Speaker, the American people can't afford another year of the so-called Affordable Care Act.