FHer-care: 2.5 times more costs than benefits

Per a new American Action Forum report, FHer-care is about as big a paperwork and red tape burden on the economy as you could ask for:

“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.”

Aside from reduced employment, insurance cancellations, and implementation problems in all 50 states, Obamacare’s regulations are very costly to the economy, the report said.

For instance, a rule requiring restaurants to post nutrition information on their menus will cost $757.1 million, and require 622,000 hours in paperwork.

In all, the law requires 159 million paperwork hours, more than twice the amount for Dodd-Frank financial reform, which imposed 60 million hours of paperwork.

“To put the ACA’s paperwork burdens in perspective, it would take 79,518 employees (more than the population of Napa, California) working 2,000 hours annually to complete the ACA’s paperwork mandates,” the report said.

All the more reason to pursue the plan of Project 2017.