Nancy Pelosi still insists that Obamacare will improve the lives of average Americans, despite over 20 reports indicating otherwise.

"Because of the law, in the coming months Americans will have expanded choices and more affordable care." Pelosi said at a recent Capitol Hill briefing. "We will be enhancing patients' rights, putting money back in the pockets of consumers, reducing costs and strengthening the economic, financial, and health security of working families."

She goes further to say that Obamacare will even lower the nation's debt.

"The Affordable Care Act is bringing the cost of health care in our country down in both the public and private sector," said Pelosi. "And that is what is largely responsible for the deficit coming down."

But what she doesn't realize is that her numbers are flawed.

"Despite promises that the law will lower costs, [Obamacare] will in fact cause the premiums of many Americans to spike substantially," a report released by the U.S. House of Representatives Committee on Energy and Commerce concluded. "The broken promises are numerous, and the data reveals that many Americans, from recent college graduates to older adults, will not be able to afford the law's higher costs."

The report is based on responses from 17 insurance companies to a letter from Congress asking them to estimate the effects Obamacare would have on premiums and found that individuals in about 90% of all states would likely face "significant premium increases."

Furthermore, the committee found that some individuals may see premium increases up to 413%.

Editor's Note: How much extra will you have to pay? To see how much Obamacare will take from your paycheck next year, go here.

On top of higher premiums, Obamacare will create no fewer than twenty new taxes or tax hikes on the American people.

Most of the new taxes go into effect January 1, 2014, but they are already infuriating millions of Americans.

The Obama administration has even given the IRS an extra $500 million to enforce the rules and regulations of Obamacare.

The new taxes don't bode well for middle-class Americans. Incomes for the rich have soared this decade but middle class workers have seen their wages stagnate and even drop since the 2008 Great Recession.

Many fear Obamacare with its high insurance costs and new taxes, could provide the middle class a fatal blow.

Of course, the Obamacare plan was primarily designed to decrease the number of uninsured Americans and reduce healthcare costs.

Experts are saying it will have the exact opposite effect. In fact, it's estimated that Obamacare will cost the average taxpayer nearly $6,000 in extra taxes as early as next year.

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http://moneymorning.com/ob-article/obama...ode=t-oc-pelosi