“‘It is a massive entitlement to end all entitlements. It is going to cause a fiscal hemorrhage that is not even yet anticipated. It will tie up one-sixth of GDP in the most monstrous, massive, bureaucratic snarl that you can’t imagine. So therefore this needs to be stopped before it becomes operational.’ Stockman expects more companies will follow the lead of GE (GE) and Walgreen (WAG) who have announced they will move employee or retiree healthcare benefits to private exchanges. Once millions of additional Americans are ‘dumped’ onto Obamacare exchanges, Stockman expects the cost to the government of subsidizing (with tax credits) these Americans’ insurance to swell.”
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