The fact—care of the Congressional Budget Office (CBO)—now being touted by teh President and his minions is that the cost of Obamacare in expanding insurance coverage is going to cost 20% less than was projected.
However, an analysis of the data by the Pacific Research Institute (PRI) indicates that the CBO is playing fancy with the facts. To wit:
- CBO projected that Obamacare would cover 34M uninsured. That number was reduced to 27M. Currently, 31M are without health insurance.
- 10M will lose their employer-sponsored health insurance due to Obamacare, especially those who work for small companies burdened by the law’s burdensome regulation.
- Subsidies costs are projective be 7% higher.
- National healthcare spending rose 5.6% in 2014, a 50% increase in the average annual health inflation rate compared to the past 6 years.
- Obamacare is expected to cost $2T between 2015-2025, 200%+ the initial projection of $940B.
What Obamacare has done to the nation’s healthcare system parallels with what the Administration’s spending on the nation’s public education system has done to public schools. The fingerprints: Funding increases, deficits build, and quality declines.
The solution to both is vouchers where the $$$s follow the consumer. It’s already working with charter schools, despite the best efforts of the public school teachers’ union bosses to thwart vouchers. And, believe it or not, vouchers have already worked with healthcare.
According to PRI, the State of Oregon has experimented with a voucher program. Guess what happened? Emergency room visits declined 17%. Costs declined 19%.
Ever wonder why those who legislated Obamacare for the masses didn’t include themselves in the legislation?
Many of them also happen to send their children to private schools.
Let the discussion begin…
To read the PRI analysis, click on the following link:
“Buried In the Numbers: Obamacare's Costs are Climbing, Not Receding.”