Rising GOP star Rep. Paul Ryan explains what Obamacare will do to the economy, healthcare costs and insurance premiums.

Sky-rocketing health care costs are drowning families, businesses and governments in red ink - leaving millions priced out of the market and without coverage. This legislation - with its maze of mandates, dictates, controls, tax hikes and subsidies - pushes costs further in the wrong direction.

Premiums in the individual market would rise from 10% to 13% for families. Our debt and deficit crisis - driven by $76 trillion in unfunded liabilities - would accelerate from the creation of a brand new entitlement and an increase in the federal deficit by $662 billion, when the true costs are factored in. National health expenditures will increase by an additional $222 billion over the next decade, according the president's own chief actuary, and $2.4 trillion in the decade after the new entitlement is up and running.