The Latest Three Calamities From Obama Care

For a while back in June, it seemed like every week brought another unforeseen calamity in the making from Obama Care. One week we found out that the law, as written, mistaken made about 3 million non-needy and non-poor Americans eligible for free Medicaid health insurance, funded by the taxpayer. The next week we found out that the law, as written, discriminated against working Americans vs. comparable Americans who were on Social Security by making the working American group pay 50% more for insurance in Obama Care's insurance exchanges than those that were not working.

These disasters were combined with several other Obama Care disasters that have already been exposed:

We could go on and on but it is pretty obvious that this is one sorry, dangerous piece of legislation. However, it gets worse, as this week we have come across not one more Obama Care calamity but three.

Let's start with a new study done by researchers at the Beacon Hill Institute at Suffolk University in Boston. This research analysis examined the effects of the state wide health care reform law that was implemented in 2006 in Massachusetts. That state-based health care reform effort was very, very similar to Obama Care. The law forced all state residents to purchase health care insurance, it placed health care insurance mandates on all businesses in the state with more than 10 employees, it expanded Medicaid coverage, it created a pool of money to subsidy the purchase of health care insurance, and it created health insurance exchanges for those less fortunate people who could not afford insurance company policies. All of these components exist in one way or another in Obama Care.

So, five years after its implementation, what has happened to the health care situation in Massachusetts:

Great, rather than learn and adjust an existing model, the political class in Washington went down almost the same road of disaster as Massachusetts. Einstein once said something to the effect that the definition of stupidity is doing the same thing over and over and expecting different results. When comparing the Massachusetts health care reform effort to Obama Care we can now see that Einstein was right.

The second calamity comes from a survey of small businesses that was conducted by the National Federation Of Independent Business (NFIB) that addressed the opinions of small business owners:

Same type of results to what happened in Massachusetts. Currently covered small business employees are already losing health care coverage just one year after Obama Care was passed. The cost to the Federal government is likely to be substantially higher than expected as 1) low wage employees go to the heavily subsidized exchanges for coverage and 2) small businesses drop health care coverage for their remaining employees who do not leave for exchange coverage, resulting in more Americans without coverage, the exact opposite effect that Obama Care was supposed to prevent.

The third calamity comes from a new report out ofCornell University by economist Richard Burkhauser and others. The findingsfrom the Cornell analysis found involves how the government originally interpreted the law (family plan thresholds vs. individual plan thresholds) and estimated how many people would opt out of their employers' insurance program and go to the government subsidized insurance exchanges.

Given what is likely to happen, which is not the way the cost of Obama Care was figured, the Cornell analysis estimates that many more workers will end up in the exchanges than was expected, adding an additional $50 billion a year to the national deficit and national debt. If their assumptions and calculations are correct, over a ten year period, about half a TRILLION dollarswould be added to the national debt as a result of Obama Care. Thus, whatever dream/hope/fantasy the political class had of reducing the national debt over the next tens years as a result of this legislation is pretty much gone by now.

Even worse, the researchers think this may be the best case. Obama Care has made it so attractive for employers to shift workers out of their own programs into the exchange programs, they may find it advantageous to shift ALL of their workers out of their health care plans, shutting them down, and forcing all employees to get insurance exchange coverage. If that happens, then it is likely that a full TRILLION dollars would be added to the national debt in the next ten years.

Three different analyses, three different approaches, three different organizations, all coming up with the same conclusion: Obama Care will be detrimental to those that already have health care insurance, will significantly increase the national debt, will not reduce overall health care costs, will likely result in tens of millions of Americans losing their current health care insurance coverage, and will be an administrative nightmare to manage.

Outside of these three new calamities, and the numerous others we have discussed, is there any doubt that this piece of garbage needs to be taken off of life support and put to permanent rest? Time to start over before the legislation kills us all.

Can hardly wait to see what calamities await us next week. Stay tuned.

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