Obamacare: America's Economic Death Panel
Kyle Becker | On 06, Feb 2013
As the Democrat Party continues to serenade the American voter with the swan song of “free” stuff, the fat lady is singing soprano for an economy that is being taken over by the government. The money-is-no-object attitude of Washington spendthrifts will mean so much accumulated debt that there are no countries in the world rich enough to finance it.
Now a famous statist economist is saying there is no way to pay for it all without even more taxes and even “death panels.” A glib Paul Krugman recently pitched an idea that had drawn guffaws from the mainstream press just a few years ago: the institution of “death panels.” Who knew the compassionate left would be asking for people to pay for Obamacare with their lives?
Eventually we do have a problem. That the population is getting older, health care costs are rising…there is this question of how we’re going to pay for the programs. The year 2025, the year 2030, something is going to have to give…. …. We’re going to need more revenue…Surely it will require some sort of middle class taxes as well.. We won’t be able to pay for the kind of government the society will want without some increase in taxes… on the middle class, maybe a value added tax…And we’re also going to have to make decisions about health care, doc pay for health care that has no demonstrated medical benefits . So the snarky version…which I shouldn’t even say because it will get me in trouble is death panels and sales taxes is how we do this.
The president’s early second-term agenda betrays a willful disregard of the nation’s dire economic straits, even as Obama warns of even more taxes. Instead of managing the unsustainable debt, the president is looking to pull the plug on the economy. Attempting to buy off Latino voters with a “pathway to citizenship,” for example, will come at an Obamacare pricetag of another $2 trillion.
The Daily Caller reported:
Last March the minority side of the Senate Budget Committee estimated that Obamacare would increase unfunded obligations — or federal spending without a dedicated funding source — for federal health care programs by $17 trillion over 75 years, or from $65 trillion to $82 trillion.
Adding currently illegal immigrants, via a pathway to citizenship or other means, to Obamacare would further increase those unfunded obligations by another $2 trillion, based on their calculations.
The news of ever-increasing Obamacare cost comes as 7 million Americans will lose healthcare coverage in 2013, effectively forcing them onto the federal healthcare plan or otherwise pressuring states that have opted out of establishing
exchanges “marketplaces” to jump on the gravy train. The Washington Times reported:
President Obama’s health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.
CBO said that this year’s tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they’ll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade.
As the price pressures increase, so will the heat on Republican governors to accept the federally subsidized healthcare, since states are ultimately responsible for Medicaid payments. Reputed fiscal conservative John Kasich of Ohio joined four other Republican governors in agreeing to take Obamacare money, and thus join the ranks of the entitled. As NRO put it:
Acceding to the Medicaid expansion, Governor Kasich reasons, “avoids leaving Ohioans’ federal tax dollars on the table and keeps the federal government from simply giving them away to other states.” Kasich does have a kernel of a point; in general, fiscally conservative governors should not be expected to decline benefits while their constituents’ federal tax dollars continue to fund such benefits in liberal states.
As the New York Times predicted earlier, the way the massive healthcare overhaul was designed put states in an untenable position. The following passage is telling:
Now, poor people who live in a state that refuses to expand its Medicaid program will find themselves in a predicament, unable to obtain either Medicaid or subsidies. That potential gap will probably lead to ferocious statehouse battles in the coming year, as states weigh whether to accept billions of dollars in federal aid to pay for expanded coverage.”
The Republican Party is supposed to be the one that gives people the cold, economic facts in the most emotionally attractive light. All Americans are supposed to get that “the only free cheese is in a government mousetrap.” If they don’t know about TANSTAAFL (There ain’t no such thing as a free lunch), then it needs to be explained to them.
Obamacare’s tab is already three times the original cost estimate pitched back when the president said healthcare costs would “bankrupt” the country. The bill will result in doctor shortages, increasing demand, eventual rationing, escalating taxes, reduced economic growth, and a bloated, expanding bureaucracy. As the program continues to harm America’s economy, voters should recall every single member of the House GOP and every one in the Senate voted against it.