Obama-Care And The Ford Edsel
There is no doubt that Obama’s crowning achievement, Obama-Care, has turned out to be as much as a success as the Ford Edsel. Why the very word “Edsel” became a popular symbol for failure, just like Obama-Care will turn out to be. As everyone knows by now, Obama-Care was nothing more than a government takeover of the health-care system and a gigantic transfer of wealth scheme.
Even Senior Democrats who were vital in writing and promoting Obama-Care appear to be having a change of heart. Sen. Chuck Schumer, the upper chamber’s No. 3 Democrat recently said, “Unfortunately, Democrats blew the opportunity the American people gave them, we took their mandate and put all of our focus on the wrong problem — health care reform.” “Americans were crying out for the end to the recession, for better wages and more jobs, not changes in health care,” he said.
Federal actuaries predict that health spending increases will nearly double soon, averaging 6 percent a year through 2023, pushing total health spending to a staggering 19.3 percent of GDP, up from 16.6 percent pre-Obama-Care, so much for Obama-Care controlling costs. Truth is, four years after its passage, Obama-Care has managed to cover only one out of four previously uninsured people, spending $57 billion to do it, free health-care, I don’t think so.
Now we find out it will cost the taxpayers, $50,000 for every person who gets health insurance under the Obama-Care law, the Congressional Budget Office revealed. It will take $1.993 trillion, a number that looks like $1,993,000,000,000, to provide insurance subsidies to poor and middle-class, while only bringing in $643 billion in new taxes, penalties and fees related to the Obama-Care law. Obama pledged to members of Congress in 2009, as his signature insurance overhaul law was being debated, that ‘the plan I’m proposing will cost around $900 billion over 10 years.’ Either he lied or he is incompetent, my money is on he lied.
For years, Harvard’s experts on health economics and policy have advised presidents and Congress on how to provide health benefits to the nation at a reasonable cost. But those remedies will now be applied to the Harvard faculty, and the professors are in an uproar. Richard F. Thomas, a Virgil scholar, said the health-care changes are “deplorable. They are deeply regressive.” And these are the people who supported the health-care law, Oh well, be careful what you wish for.
The problem with Obama-Care, liberals argue, is that it didn’t go far enough; we should have an entirely government-run health-care system. Well just ask the people of Vermont, who opted to have their own government health-care system. Vermonters were stunned to discover just how much their new “free” health care was going to cost. Paying for Green Mountain Care would have required a 160% increase in state taxes by 2019, as much as $2.9 billion annually. The state’s top income tax rate would have been raised from 8.95% to an astounding 18%. For high earners that would mean a combined federal-state income tax burden of 56%. Even lower-income Vermonters would have seen a substantial tax hike.
Because even these enormous tax hikes wouldn’t have provided enough money, Green Mountain Care would have cut payments to doctors and hospitals by an estimated 16%. That would have forced many doctors out of the state and threatened the viability of local hospitals. It is no wonder that Vermont Gov. Peter Shumlin, a Democrat, announced that the state was giving up and abandoning its plans for Green Mountain Care. It seems that Socialized medicine sounds great, until you are forced to live it.
A little over a year ago my doctor who I had for years went to a strictly cash business because of Obama-Care. When I went to a new doctor there was a sign over the receptionist’s desk that read; All deductibles must be paid before service is provided.
And the law will still leave ‘between 29 million and 31 million’ non-elderly Americans without medical insurance, says the CBO. This can’t be the change America wanted.
“What Kind Of Society Are We Leaving Our Kids” Available here.
This is one man’s opinion.