Although it’s true that not all the bad stuff that was predicted about what was going to happen under the Affordable Care Act happened, there are plenty of black marks to garner an F rating under the disastrous rollout of healthcare.gov. Here, Michael Tanner of the Cato Institute gives a breakdown of the Obamacare report card.

1. Although Obama assured the country to the contrary, roughly 6 million Americans were kicked off their insurance. Why? Their plans did not provide long enough maternity leave or sufficient (by what standards?) drug and alcohol rehab benefits, or plans were not up to par with what federal bureaucrats thought they should be.

2. Obama promised Americans that O’Care would save them $2,500 a year in premiums. But in New York, for example, premium increases will average 6% for individuals and 7% for small businesses.

3. According to best estimates, the law over the next 10 years will cost $2.63 trillion—paid for by $1.38 trillion in new taxes and at least $1.25 trillion in additional debt.

4. Businesses are cutting employment and shifting workers to part-time employment, according to surveys from the Federal Reserve Banks. Furthermore, roughly a third of businesses are raising prices to offset some of the law’s costs.

Read here Mr. Tanner’s full explanation of why an F rating for Obamacare on its 1^st anniversary report card.