We now know that ObamaCare will cost two trillion dollars. The outrageous cost is bad enough, but when taken in context it’s actually far worse. The Affordable Care Act, a misnomer if there ever was one, will cost upwards of two trillion dollars and will still leave 31 million Americans uninsured. The Democratic Party should be so proud.
Before Democrats or hostile readers take issue with my numbers, please note that they’re not mine. The numbers are from the Congressional Budget Office who just released their annual Budget and Economic Outlook. This means we now have actual numbers we can attach to Obama’s lies about healthcare reform. Topping the list of CBO projections is the overall effectiveness of ObamaCare. Like I said, spending two trillion dollars is bad, but spending two trillion dollars to cover 30 million Americans, only to end up with 31 million without insurance reigns supreme as the worst law in history.
Recalling The Genesis of ObamaCare
The reason for ObamaCare in the first place – at least the reason Obama and the Democrats claimed – was to provide quality health insurance to 30 million Americans who didn’t have health insurance. Obama told us that we’re a rich country that could – and should – provide insurance for the 30 million who didn’t have it. Without that coverage, they would surely have had something wrongfully amputated Obama told us. Really, he did, you can’t make this stuff up. But have no fear, he was going to leap a tall building, by God, and get those people covered. Not only was he going to cover those 30 million people, but he was going to do it without adding one dime to the deficit. And, because he is so fiscally responsible, he even promised to veto any bill that increased the deficit. That promise is right up there with you can keep your plan, don’t you think?
ObamaCare Will Cost Upwards of $2 Trillion
Now, more than three years after the passage of the ACA, and after the implementation of the law, we finally have numbers from the CBO. It seems Obama lied about the cost of ObamaCare. While it doesn’t add one dime to the deficit, it does add two trillion dollars which is a smidgen higher than the amount Obama promised he would veto. More amazing is that we’ll spend two trillion dollars and still have 31 million uninsured. Most amazing is that this idiot keeps telling us that this is still a good idea. He knows better, of course, because he’s been handing out exemptions to his political supporters, like unions, that exempt them from this God awful law.
ObamaCare By The CBO Numbers
- Millions more projected to lose their coverage. As the CBO writes, “CBO and JCT project that, as a result of the ACA, between 6 million and 7 million fewer people will have employment-based insurance coverage each year from 2016 through 2024 than would be the case in the absence of the ACA. That change is the net result of projected increases and decreases in offers of health insurance from employers and changes in enrollment by workers and their families.”
- 1.5 million enrolled in non-compliant plans in 2014. As a result of Obama’s unilateral and last minute decision to allow plans that are not compliant with ObamaCare rules to continue into 2014, a “fix” to offset the nearly 5 million reported plan cancellations, the CBO estimates that 1.5 million non-compliant plans will exist in the individual and small group markets in 2014, with .5 million continuing on into 2015.
- Mandate penalties total $203 billion from 2015-2024. Penalties paid by employers of 50 or more full-time workers who do not offer their employees health insurance coverage are projected to total $151 billion from 2015-2024. The individual mandate tax that will be levied on individuals who do not purchase health coverage is expected to cost Americans $51 billion over the same period. So, America, you’ll pay $203 billion in government fines and penalties because you don’t buy a crappy product that you don’t want. Joe Stalin would be so proud.
- 31 million uninsured. After spending upwards of $2 trillion to expand insurance coverage, ObamaCare is still projected to leave 31 million people uninsured in 2024.
- Exchange enrollment adjusted for 2014. “In light of technical problems that impeded many people’s enrollment in exchanges,” the CBO has downwardly adjusted its exchange enrollment projections for 2014 by 1 million people, now projecting only 6 million people will gain exchange coverage this year. The CBO number is still very high if they’re counting enrollment from people who’ll actually pay.
- ObamaCare Costing Two Trillion Dollars. Spending of $899 billion and a reduction in revenues of $137 billion for premium assistance tax credits. Plus spending of $167 billion for cost-sharing subsidies, for a total exchange subsidy cost of $1.203 trillion. Plus Medicaid expansion and CHIP spending of $792 billion. Equals total costs of $1.995 trillion. The costs will actually be much higher. Remember the CBO thought Medicaid costs would total $50 billion.
Since we’re still left with 31 million people without insurance, we have to question the real reason the Democrats shoved ObamaCare down our throats. We certainly won’t get an honest answer from Barack Obama. Obama lied about every single element of ObamaCare, right from the start.
In analyzing the impact of ObamaCare, in addition to the $2 trillion cost, ObamaCare divided the country like no legislation ever has, it irrevocably damaged the US economy, it destroyed millions of jobs, it is materially harming our healthcare system, it caused millions of people to lose their health insurance plan and caused millions more to lose their doctor, we are left with one inexorable fact about which we can be absolutely certain. All of this is exactly what Obama wanted to have happen.
While this continues to play out, prepare yourself for the next Obama lie that purports to explain this debacle. You may have to watch closely, because Obama’s lies come in many shapes and sizes, like declaring that a YouTube video caused the Benghazi embassy attack, for example. All I can say is thank God we at least got that awesome $5 billion website!
What puzzles me most is that there are millions of people who still support Obama and the rest of the lying gaggle of progressives the Democratic Party has become. If nothing else, you’ve got to be tired of being lied to so many times. If there is a reader out there that still supports Obama and the rest of the dishonest Democrats, please drop me a note and explain to me how the hell. Where is Bart Stupac, maybe he can explain it to me.