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Wednesday, January 28, 2015

Obamacare lie number three

Obama told the American three lies about Obamacare. It became clear as ACA was implemented that no, you really cannot keep your doctor. That was scored as the lie of the year by the Washington Post's Politifact. Then there was the matter of $2500 the typical American family would save on health insurance premiums in a calendar year. Instead premiums went up for about every demographic and more than doubled for an unfortunate few. Deductibles of $12,000 for a family of four became common place as insurance carriers sought to minimize the increases in premiums.
Yesterday the Congressional Budget Office shot down Obama's false claim that Obamacare "would not add one dime to the deficit." It will add more than a dime and the cost will unsustainable. As the CBO sees it, it will cost the US taxpayer $50,000 for every person insured under Obamacare. View Table B-1 in the report. From 2015 to 2025 expenditures for Obamacare will total $2.026 trillion but revenue from the new taxes associated with Obamacare will total only $634 billion or about $50,000 per new insuree.
Under the best of circumstances 24 to 27 million will get insurance from Obamacare from when the law took effect in 2012 to 2025 but that will still leave over 30 million without insurance.

There is not doubt that Obamacare will be repealed. The question is will it happen before or after the country goes bankrupt.

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