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Tuesday, March 23, 2010

Obamacare: Another Washington scam

Now we look at the possible fallout from this newly signed into law, Patient Protection and Affordable Care Act. That bill was signed today.

This article is from The Union Leader:
Obama's reform will not reduce the federal deficit. Much of the bill's taxation begins in 2011, but its biggest spending doesn't start until 2014. The 10-year score appears to reduce the deficit, but only because of this sleight of hand. Once all the spending kicks in, the spending exceeds the revenue. A portion called the "doc fix" was removed from the bill and is to be passed separately. The Congressional Budget Office estimates that with the "doc fix," health care reform will add $59 billion to the deficit in the next decade. It's more if Congress doesn't reduce Medicare spending.

The Associated Press reported last week that the bill won't lower health insurance premiums, as Obama promised. It simply subsidizes them.

You might not be able to keep your current insurer or doctor, as Obama promised. The bill taxes insurance plans the government deems too generous, discouraging them. And a study reported on the New England Journal of Medicine Web site showed that 46 percent of physicians surveyed said they would be more likely to quit medicine or retire early if the bill passed.

The American people are about to discover that they were sold a fiscally responsible reform but got instead yet another underfunded entitlement program that speeds the nation's slide into insolvency.
Via Newsalert!

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