Bill Daley Predicts ‘Subsantial’ Political Fallout from Obamacare Launch: ‘It’s a Big Embarrassment’

Former Chief of Staff to President Obama Bill Daley addressed Obamacare's well-publicized failures Thursday on CBS This Morning, calling it "a big embarrassment" and predicting the fallout from its problems would be significant.

"I think it's substantial, there's no question," he said. "The president has looked forward to the rollout of Obamacare and it hasn't gone as well, obviously, as he expected and demanded, so it's a big embarrassment. It will be corrected. It will take time. I think you'll see the hearings today and next week to some degree probably turn into the typical sort of political side show, but the real question is what happened here and how did a program that is so vital to the country get screwed up this way at the beginning."

Host Norah O'Donnell asked Daley what he thought should happen to Health and Human Services Secretary Kathleen Sebelius due to her role in Obamacare's troubled launch.

"She is being held accountable," he said. "She is the secretary. It's under her watch. Some people are calling for her to fired. To me, that's kind of like firing Captain Smith on the Titanic after it hit the iceberg. It's not going to do much right now."