This monstrosity will bankrupt the healthcare of America
"Medical Reform: We had to pass it to find what was in it, we were told. As the lies and consequences of health care reform become known, the Congressional Budget Office reveals its true cost — another lie all unto itself.
ObamaCare was sold in part as a way to rein in health care costs, including insurance premiums, and as a big step toward reducing the deficit. Using an accounting gimmick that would make even a Bernie Madoff blush, 10 years of taxes were counted against six years of "benefits" to produce huge projected savings.
As we noted at the time, the 2014 date for benefits to start flowing was deliberately chosen to mask the full costs and delay the impact until after the 2012 elections. Had the full impact of ObamaCare been added to the administration's war on business and energy, the economy might well have collapsed, and we suspect the White House knew that.
The strategy of hide and delay may have collapsed with a new Congressional Budget Office report that reveals that the current 10-year cost of ObamaCare is an astounding $1.76 trillion. That's nearly double the $900 billion President Obama told a special session of Congress on Sept. 9, 2009, that ObamaCare would cost. He also claimed the "plan will not add to our deficit."
The new projection is from 2013 to 2022, and when 2014 arrives and costs and taxes are in sync, the 10-year cost of ObamaCare is expected to be well in excess of $2 trillion. Fact is, the administration has no clue and never had one concerning how much ObamaCare and its consequences would drive up costs, a fact grudgingly admitted to by Kathleen Sebelius, secretary of Health and Human Services, under questioning by Sen. Ron Johnson, R-Wis.
Johnson noted that we were promised family premiums would drop by $2,500 once ObamaCare and its insurance exchanges were up and running. But the Kaiser Family Foundation has released a study saying that in anticipation of ObamaCare's arrival, family premiums are up $2,200. We were told that everybody would have to be included in the plan and that no one could gowithout insurance — a mandate that may yet render ObamaCare unconstitutional. Yet, as Johnson pointed out, some 1,700 waivers have been granted, largely to unions and their members, as well as to a few favored corporations on the grounds they couldn't afford the president's affordable health care.
ObamaCare is in fact a tax on both employers and employees with businesses hedging their hiring bets in anticipation of ObamaCare's burdens. Johnson cited a McKinsey Group study that estimated 30% to 50% of employers would drop their employee coverage once the new law is fully implemented, the effect of which could be hundreds of billions, if not trillions, of dollars added to the federal deficit.
Peter Ferrara, author of "America's Ticking Bankruptcy Bomb," writes in Forbes that "ObamaCare will actually end up increasing the federal deficit by $4 billion to $6 billion over the first 20 years alone," due in part to its dead-weight effect on economic growth and tax revenues and the demise of private insurance in favor of health coverage delivered by the functional equivalent of the Department of Motor Vehicles.
There are other costs to ObamaCare as well, such as a decline in medical innovation that has given us the world's best health care till now and rationing by panels determining the cost-effectiveness of medical treatments and the worthiness of those who need them.
Then there's the shredding of the Constitution and the 10th Amendment with the mandate forcing people to buy a product, health insurance, as a cost of being citizens. Then there's the assault on the First Amendment's freedom of religion by mandating contraceptive coverage. This exposes the presidential lie that the freedom of conscience was enshrined in law and would be respected.
Unless the Supreme Court or the electorate intervenes in 2012, we will all end up paying, and paying dearly, for this "non-affordable" health care." Investors.com
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