From The Cato Institute's Michael Tanner, in the pages of the NY Post. He writes it from a "why should anyone trust the government" angle, but if you just focus on Obama's government healthcare takeover and want to convince yourself that that was a colossal and expensive mistake, well, read on.
For example, a recent survey by the Kaiser Family Foundation shows family premiums increasing by a whopping 9% this year, three times more than the previous year’s increase. The average family policy now costs more than $15,000 per year. Not only has ObamaCare failed to slow premium growth, but at least 2 percentage points of that increase is directly attributable to the health-care law’s provisions.
ObamaCare is also already reducing our health-insurance choices. The new law has already driven a number of insurance companies out of the market, meaning there will be less competition and fewer choices. Moreover, the new law has already cut back on flexible-spending accounts used by some 30 million workers, slashing permissible contributions in half and limiting what account funds can be used to pay for. And just released regulations from HHS may well eliminate most health savings accounts, effecting another 10 million workers and their families. And, of course, once the individual mandate kicks in, in 2014, assuming its not struck down by the Supreme Court, all of us will have to purchase a government-designed insurance plan, even if it is more expensive or contains benefits that we don’t want.
We also know that ObamaCare is going to cost us more in debt and taxes. A new study from the Congressional Budget Office concluded that the subsidies in the bill will add $1.36 trillion to the national debt over the first seven years after the bill is fully implemented. And at a time when 47% of Americans already pay no income tax, the bill’s tax credits will remove as many as 8.1 million more Americans from the tax rolls.
And we know that the health-care law will slash payments to physicians and hospitals, meaning it will be more difficult for us to find and see a physician. The government’s own actuaries estimate that these payment cuts could force as many as 15% of hospitals to close.