To hear supporters of U.S. President Barack Obama’s socialized medicine plan tell it (and they are spending $1 billion to make sure word gets out), your health insurance costs are going to fall under “Obamacare.” Oh, and the deficit will go down. And the economy will improve. And unicorns will leap over rainbows into endlessly rolling flower beds of “hope and change.”
According to health care expert Avik Roy of The Manhattan Institute, Obamacare will “drive up the cost of health insurance for people who purchase coverage on their own.”
“Obamacare will increase underlying insurance rates for younger men by an average of 97 to 99 percent, and for younger women by an average of 55 to 62 percent,” Roy writes in his latest column.
Roy also explodes the myth of Obamacare’s “subsidies.”
“Middle-class Americans face the double-whammy of higher insurance premiums, and higher taxes to pay for other people’s subsidies,” he writes.
Exactly … the pool of dependents expands, while the (shrinking) pool of those paying for their dependency gets stuck with another bill.
We’re already witnessing the impact of Obamacare mandates on the production side of the economy. But this “double-whammy” Roy references is going to have a disastrous impact on the consumption side.
In other words this is yet another reason to shut down this monstrosity before it’s too late …