Happy Birthday, Obamacare!
Time flies, doesn’t it? It was three years ago that President Barack Obama, after a brutal political battle, signed The Affordable Care Act it into law on March 23, 2010. Here’s a quick and dirty rundown of what Americas have gotten from Obamacare so far:
Fewer jobs: If you’re a business with 50 or full-time employees you’re now mandated to offer health coverage to workers or pay a $2,000 fine for each employee you fail to insure. This incentivizes businesses to hire fewer full-time workers and increase the number of part-time workers. According to Bureau of Labor Statistics, in fact, there are around 5.5 million fewer Americans full-time workers now than when Obamacare was passed. There are around 2.5 million more Americans working part time.
Fewer doctors; and inferior care: A new study by Deloitte Center for Health Solutions found that six in 10 doctors think it is probable that their colleagues would retire earlier than planned in the next one to three years. Another 55 percent of doctors believe they would scale back hours. Three-quarters of doctors surveyed believe that the “best and brightest” would not consider a career in medicine.
Most polls find similar results. A poll conducted last year, found that 60 percent of 5,000 doctors surveyed believed that Obamacare would have a negative impact on patient care. Only 22 percent believed it would be positive.
Higher health care costs: Take it away New York Times:
Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration’s health care law was to stem the rapid rise in insurance costs for consumers.
Obamacare includes an array of new taxes – on investors, on consumers, on insurers. There’s a $63 fee for every person covered by employers. There’s a 3.5 percent surcharge on insurance plans that are sold through government-run exchanges. There’s a “premium tax” that will cost insurers $100 billion the next ten years. Actually, you’ll pay, as it all of it passes through to consumers.
More debt: Nearly every time the Congressional Budget Office looks at the 10-year cost of ObamaCare it raises the estimates. When Obamacare was passed the CBO – using, at it must, all the accounting tricks Democrats deployed during passage – to put the cost at $938 billion. The CBO estimated that law will cost about $1.3 trillion over the next 10 years – even though it won’t be implemented until 2014.
Let’s not forget, Obamacare gave us precedent-setting losses of individual and religious freedom.
And just wait until you see what’s in it after it’s implemented in 2014.
Follow David Harsanyi @davidharsanyi.