Would you bet your paycheck on a weather forecast for tomorrow? If not, then why should this country bet billions on (OmamCare) predictions that have even less foundation?
Thomas Sowell (Modified slightly by RF)
As you know if you read my posts regularly, I am not a fan of ObamaCare. Following my last post, a friend and reader asked if there was anything “good” about ObamaCare. The straight answer is that if ObamaCare worked exactly like the progressive/altruist/statists drew it out on their ever-present “Central Planner’s” drawing board, it would certainly provide benefits for many. The issue has been and will continue to be the “unintended” consequences (and, of course, the cost). President Obama tells us that “it won’t add a dime to our deficit.” Jay Carney, President Obama’s press secretary, tells us that, like Medicare, that had its original detractors, ObamaCare will triumph in the end. That may not be an apt analogy.
[Source: Heritage Foundation] “Medicare (hospital insurance). In 1965, as Congress considered legislation to establish a national Medicare program, the House Ways and Means Committee estimated that the hospital insurance portion of the program, Part A, would cost about $9 billion annually by 1990. Actual Part A spending in 1990 was $67 billion. The actuary who provided the original cost estimates acknowledged in 1994 that, even after conservatively discounting for the unexpectedly high inflation rates of the early ‘70s and other factors, “the actual [Part A] experience was 165% higher than the estimate.”
Medicare (entire program). In 1967, the House Ways and Means Committee predicted that the new Medicare program, launched the previous year, would cost about $12 billion in 1990. Actual Medicare spending in 1990 was $110 billion—off by nearly a factor of 10.”
As well, President Obama’s promise that the deficit would go down under ObamaCare has been revised upwards. The current estimated cost will be $24 billion per year for the next 10 years. I doubt his estimate will be any more accurate than the Congressional Budget Office estimate for medicare in 1965. If it is similarly “off,” the cost to American taxpayers will be $240 billion per year in 2038.
Still, I promised to show the “good news” about ObamaCare and this is what I have to offer. The Kaiser Family Foundation produced this video to explain ObamaCare and largely focuses on the benefits. It also gives one a fairly good idea of the entirety of the “plan.” I hope you find it enlightening.