Obamacare Still Raises Debt by Trillions

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Posted by Michael Smith on Wednesday, April 23rd, 2014, 2:18 PM PERMALINK


It would seem like members of the Obama Administration will find anything they can to celebrate when it comes to the Affordable Care Act.

What’s the Administration parading about now? According to  White House spokesman Jay Carney, the new Congressional Budget Office report  “demonstrates the Affordable Care Act is working.”

Slow your roll, Mr. Carney.  Not too long ago the President prematurely boasted Obamacare as a success due to hitting the targeting goal of 7.1 million sign-ups. What that 7.1 million figure fails to mention is how many people were previously uninsured, lost coverage due to Obamacare, and how many people have begun and will continue to pay for their new healthcare plans. Before that, the Obama Administration was quick to dismiss CBO reports that said the ACA would kill 2.5 million jobs and create a disincentive for people to work.

So why is the President so giddy about the new CBO report? Because it projects slightly less deficit estimates as if it were a good thing. According to the report, the federal government has a projected net cost of $36 billion for 2014, $5 billion less than previously projected while projecting a net cost of $1,383 billion for 2015-2014, $104 billion less than February estimates.  Time to pop the champagne in the Oval Office, right?

Wrong.

The ACA is still going to cost taxpayers, a lot. According to Billy House of the National Journal, “the nation is doomed to return to trillion-dollar shortfalls by 2024 if lawmakers don’t alter existing tax and spending policies…the rising debt [will] have serious consequences.” How has President Obama addressed the nation’s bleak financial future? By creating an unsustainable healthcare program and no original framework to help alleviate the nation’s financial woes as evidenced by the 442 tax hikes Obama has proposed since taking office.

Although the Affordable Care Act was intended to provide affordable healthcare for all, the middle class is paying far too much out of pocket costs to fund Obamacare. While new tax hikes plague average income earners in America, others are losing coverage under the Affordable Care Act. Furthermore, the ACA will kill part-time worker's healthcare coverage and small business owners cannot hire more employees because of Obamacare’s mandates. If the President wanted to properly address healthcare concerns for the middle class, he need only look to healthcare plans proposed by House conservatives Rep. Steve Scalise and Rep. Tom Price.

According to a new Gallup Report, 55 percent of Americans see the writing on the wall and believe the economy is getting worse. The need for responsible spending and practical tax reform is evident, and unless the President and his Administration realize that fact, the American people and the economy will continue to suffer.

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