Six years ago today the United States of America was saddled with Obamacare. To state that it was a misadventure, a fiasco, and a debacle would actually be kind praise. I could have chosen some unprintable expletives, instead.
The following 5 charts will document the broken promises and failed administration that have led us to where we are today.
Let’s begin with our President’s current only claim about his signature “legislative legacy” – that nearly 12 million previously uninsured Americans are insured today. Wow! That sounds pretty good. However, the chart below shows that it is simply a “number” that will bankrupt the system.
[Source: In 5 Charts, How Obamacare Has Worked the Past 6 Years, by Melissa Quinn]
So, the actual number is closer to 9 million. But, say the progressive/statist/altruists, that’s still 9 million newly insured. OK. Who is insuring them?
So basically, these individuals are insured under a system that is about to go bankrupt. The Congressional Budget Office estimates that the heavily subsidized Americans that have been added to the Medicaid rolls will generate a taxpayer-funded ten-year cost of $795 billion.
A brief trip down memory lane brings us to the the debacle otherwise known as the “roll-out” of HealthCare.gov.
The Obama administration still has not told us exactly what this cost Americans. Department of Health and Human Services Secretary Sylvia Burwell said that the website cost $834 million. However, an analysis by Bloomberg Government put the total cost at $2.1 billion. Bloomberg Government took into account budgetary costs for the Internal Revenue Service and other government agencies, as well as contracts reworked to pay for the website.
Then, of course, we have the plan to bend the “cost curve down.” This would be accomplished through government sponsored “exchanges.” I have devoted significant time to these in the recent past, so I won’t belabor this issue. However, here’s a chart I previously posted.
“Ouch,” is sufficient comment!
And let us not forget the President’s promise, “I will sign a universal health care bill into law by the end of my first term as president that will cover every American and cut the cost of a typical family’s premium by up to $2,500 a year.” Well, not exactly.
And, finally, insurance companies are getting the message that the “brilliant, centrally-planned, healthcare reform” isn’t going as well as described in the playbook. What are they doing? They are dropping out.
The score is 22 to 10 – that is states with decreased insurer participation compared to states with increased insurer participation.
So, happy 6th birthday Obamacare, but I hope you die before your 7th!