When U.S. President Barack Obama sought the presidency in 2008 he promised Americans their health care premiums would drop by $2,500 a year – during his first term.

“In an Obama administration, we’ll lower premiums by up to $2,500 for a typical family per year,” Obama said during a June 2008 campaign swing through Virginia. “We won’t do all this twenty years from now, or ten years from now. We’ll do it by the end of my first term as President of the United States.”

Well, Obama’s first term ended this week … how’d he do on this promise?

Not well … not well at all. Not only have health insurance premiums in the United States not declined by $2,500 (or $1), they’ve actually moved in the opposite direction. According to data from the Kaiser Family Foundation, premiums for the average family with an employer provided plan increased by $2,400 during Obama’s first term.

In other words, the exact opposite of what he promised. Wait … why wasn’t this a huge issue during the 2012 campaign? Two reasons: First, Republicans nominated Mitt Romney – who previously championed the same same sort of socialized medicine plan pushed by Obama.

Second, the mainstream media simply gave Obama a hall pass on the subject … as it did on many other subjects.

So … what’s Obama’s second term promise?

According to the White House, premiums will be reduced by $2,000 annually per family … by 2019.

Do we believe that will happen? Of course not … “free” coverage cannot be extended to millions of new beneficiaries while simultaneously lowering premiums for the rest of us (and reducing the deficit). It just doesn’t work that way.

No matter what Obama promises, expect health insurance premiums to continue climbing in the years to come … making it that much harder for American workers, employers and families to make ends meet.