Obamacare Fiasco Will Cost $50,000 Per Person
President Obama’s signature healthcare legislation was sold to the American people as a way to shield the 30 million Americans without health insurance from disaster. It would cost $900 billion over ten years, and it would not add a single dime to the deficit. It would strengthen the economy, protect America’s most vulnerable, and provide a shining highway to a bold new future.
Of course, we all knew it was BS from the start. Those who didn’t know found out when the architect of the law – Jonathan Gruber – was exposed admitting as much to his liberal colleagues. And those that didn’t even believe it then are finding out now. The Congressional Budget Office has released their report on the law’s estimated budget for the next decade, and they’ve found some discrepancies between the truth and the promises. In other words, the report has exposed the lies. Again.
According to the CBO, it will cost the United States $50,000 for every single person who signs up for insurance under Obamacare. That’s real taxpayer money, and it translates to about $1.35 trillion over the next ten years. For the mathematically-challenged, that’s about $135 billion more than Obama promised. What’s even more insidious is that the CBO projects that 30 million Americans will still be uninsured by the end of the projected time period.
To pay for it, in part, will be more than $600 billion in new taxes, fees, and penalties attached to the law. That this still leaves a shortfall of several hundred billion dollars is a matter the administration would prefer not to address. And if the medical device tax is overturned, the shortfall will be even more substantial. What does that do to the national debt? What does that do to the financial stability of the United States?
When you combine the law’s expansion of Medicaid with its subsidies for low-earning Americans, the total cost rises to nearly $2 trillion. Of course, this figure is shockingly distant from the $900 billion Obama originally promised. His lie of omission was made possible by the graduated implementation of the law. When he made his promise in 2010, looking forward ten years, he was able to include a four-year period where Obamacare would only be partially unveiled. The big spending didn’t start until last year. Deception and lies, just as Gruber admitted.
The really frightening thing is that all of these estimates are based on a best-case-scenario. They do not include the economic effects that the employer mandate could have on the country. They do not include the disastrous effects of Obama’s illegal immigration action, which could encourage employers to choose immigrants over citizens because they would be exempt from the insurance mandate.
Republicans need to focus on an alternative to Obamacare that can rally Americans against this despicable waste of money. Repeal efforts will be in vain if there is not a sensible plan put forth. We need that plan right now, before we go so far down the Obamacare path that voters forget how awful it really is.