What is so wrong with Obamacare?

Obamacare is the nickname for the Patient Protection and Affordable Care Act (PPACA). This law in conjunction with the Health Care and Education Reconciliation Act of 2010 is the health care reform legislation the U.S. Supreme Court is expected to rule on in June 2012 in response to a constitutional challenge.

Possible Negative Outcomes of Obamacare:

Economic growth may decrease by $706 billion and cost 800,000 jobs.
Millions may still remain uninsured.
50% of those with Medicare Advantage will lose health coverage due to rate increases.
Health care costs may increase due to $47 billion in new taxes on drug companies and medical device makers.
2/3 of medical care providers may abandon government-sponsored health care insurance.
Small businesses may be penalized by $52 billion in new taxes and new IRS reporting requirements.
Health care may increase the deficit by $500 billion over the next 10 years.

On the flip side, proponents of Obamacare suggest that all Americans would have access to basic health care regardless of their employment status, age, or pre-existing medical conditions or illnesses. The act requires businesses to assist in the health care coverage of their employees. Another commonly noted advantage cited by supporters of Obamacare is the potential for lower overall health care costs and improved quality.