It’s been a year now since President Obama signed the Affordable Care Act into law. It’s been one year since Democrats forced a health care bill through Congress that the American people didn’t want, and it’s been one year since Nancy Pelosi said, “We have to pass the bill so that you can find out what is in it, away from the fog of controversy.” One year later Obamacare has proven what it is, and it’s a disaster.
In the words of Senator John Thune, “It is now clear that Obamacare is a failed experiment.” For starters, the President promised that if you were happy with your health insurance then you could keep it. This has proven to be false in many cases. Strong incentives were created by Obamacare for businesses to drop their employees from their plans or change insurance plans completely. The Department of Health and Human Services is now estimating that within the next two years 51 percent of businesses will have to change health insurance plans, and as much as 80 percent of America’s small businesses may end up losing their coverage all together. The new, burdensome orders from Washington are simply too much for businesses to handle.
All of these new costs add up for businesses that are trying to survive in an already unstable economy. Obama should be focusing on creating policies that will help get businesses growing and hiring again. However, a report from the congressional budget office now estimates that Obamacare will eliminate 800,000 jobs by 2021. President Obama’s promise that the health care law will create jobs will never be reality. In a letter to House and Senate leadership, almost 200 distinguished economists said the law “contains expensive mandates and penalties that create major barriers to job growth.”
Another major “benefit” of the health care law is that it is supposed to lower costs for everyone. However, the same economists that expressed concern over the job market also expressed fears about the increase in costs the law will create.” A more comprehensive and realistic projection suggests that the Affordable Care Act could potentially raise the federal budget deficit by more than $500 billion during the first ten years and by nearly $1.5 trillion in the following decade.” The American economy will never get back on track if this law is not repealed. The President promised a cheaper version of quality health care, but what the people will get is poor service at a higher price.
Obamacare is filled with promises that will go unfulfilled. After the “fog of controversy” has finally lifted it is painfully obvious that the Affordable Care Act will force many Americans to lose insurance plans they like, will create job loss in an already difficult economy, and obliterate any chance America has of reducing the deficit. Not to mention that these are just broad highlights of Obamacare’s issues. One year later it seems that the problems in the health care law are much worse than even some Republicans could have predicted. Repeal is mandatory.
Sources:
John Thune, “‘Obamacare’ is a failed experiment,” Politico.
Laura Donovan, “CBO: Obamacare will reduce employment by 0.5 percent by 2021,” The Daily Caller.
Peter Roff, “Prominent Economists Urge Obamacare Repeal,” US News.
