Busts the Federal Budget: According to the Congressional Budget Office (CBO), the amended Reid plan would reduce the federal budget deficit by $132 billion over the period 2010 to 2019, but that is a mirage. The CBO can only score what the Senate tells them they will do, not what everyone knows they actually will do. For example, the Senate bill cuts Medicare fees for doctors by 20% starting in 2011. Nobody believes these cuts will be allowed to happen. By changing just that provision, Obamacare ends up adding $196 billion to the deficit in the first 10 years and $765 billion in the second decade.

Busts State Budgets: According to The Fiscal Survey of States, 31 states cut higher education and 26 states cut K-12 education in 2009. This is because Medicaid and education are almost always any states two highest budget items, and states cannot touch the entitlement to Medicaid. Obamacare only increases state Medicaid obligations thus further bankrupting states. This is why Sen. Nelson demanded a permanent Medicaid bailout for Nebraska in exchange for his vote. Other states like Hawaii, Vermont, and Massachusetts also won key federal bailouts for their health programs. Who are the losers? All the other that are forced to pick up the $1 billion tab.

Increases Health Care Costs: Throughout the health care debate, President Obama promised reform that would “bend the cost curve down” on health care spending. But according to the President’s own the Centers for Medicare and Medicaid Services (CMMS) the Senate does exactly the opposite, actually driving health care costs up by adding $234 billion to national health expenditures.

Endangers Americans Quality of Care: President Obama used to promise that “If you like your health care plan, you can keep your health care plan.” But as the CBO confirmed this month 10 million Americans will be forced out of their current health insurance plan should Obamacare become law. Even worse, CMMS has reported that Obamacare’s $493 billion in Medicare cuts could force as many as one-in-five health care providers into insolvency thus forcing them out of the Medicare program.

Forces Americans to Pay for Abortions: Despite the inclusion of the Nelson amendment, when the federal government’s role over the financing and delivery of health care grows, as it does under this bill, a requirement to segregate premiums that cover abortion services would be merely cosmetic in practice.

$400 Billion in New Taxes: From taxes on employment to taxes on tanning beds, Obamacare is funded with over $400 billion in new taxes at a time of double digit unemployment, including $29 billion in taxes on 19 million Americans who still will not receive any health insurance.

A “Starter Home” for Government Run Health Care: While technically not a public option, this scheme will have the same results. By giving unprecedented power and authority to the Director of Office of Personal Management, the multi-state plans created in the bill will simply become the government plan. Single payer advocate Sen. Tom Harkin (D-IA) is even calling the bill a “starter home” for further reform.

“…the exemption [for nonprofit insurance companies] would unfairly tax some states, such as Virginia, where primarily for-profit plans operate.”

Thanks, Webb and Warner!