Pelosi ignores Obamacare failures and blames Trump for skyrocketing increases to healthcare premiums
Democrats seem to have very short memories when it comes to failures in their own policies. ¬†But even more so, when the electorate then votes them out of office for said failures their natural reaction is to then spin the blame onto the oncoming administration who had nothing to do with those policies.
And at front and center of course is the colossal boondoggle that is Obamacare.
So following several years straight of rising premiums, declining care options, and even insurers going bankrupt in states around the country, it should come as no surprise that former Speaker of the House Nancy Pelosi is now trying to put all the blame for Obamacare’s failures on President Trump over his plan to cancel taxpayer funded subsidies.
Even though according to statistics, 40% of those eligible for these subsidies don’t even bother to apply for them.
At the request of Nancy Pelosi, the Congressional Budget Office has just released a study intended to better understand the potential economic impacts that would result from the cancellation of taxpayer funded Obamacare subsidies (a.k.a. “cost-sharing reductions” or “CSRs”).¬† The report is entitled “The Effects of Terminating Payments for Cost-Sharing Reductions,” and, among other things finds that cutting CSRs would cause a 20% spike in Obamacare premiums in 2018 and result in a $194 billion increase in the deficit from 2017 through 2026.
Or, put more simply…if Trump decides to cut taxpayer-funded subsidies for a completely failed Obama-era piece of legislation then all future premium hikes are his fault…
Of course, according to data from the¬†Department of Health and Human Services,¬†the average individual purchaser of health insurance across the United States saw their premiums increase from $232 per month in 2013 to $476 per month in 2017,¬†a ‘modest’ increase of over 100% in just a few years.
Ironically, that equates to a constantly annualized growth rate of exactly 20% per year.
Said another way, the CBO predicts that, without the benefit of taxpayer subsidies, Obamacare premiums would increase in 2018 at the exact same rate they’ve increased for each of the past 4 years…except they managed to find a convenient excuse for the continued collapse of a failed policy and a scapegoat…President Trump. –¬†Zerohedge
But don’t worry, Senator Bernie Sanders has got your back as he is expected to¬†submit a bill in September¬†in which the government takes over all of healthcare. ¬†And if you thought healthcare premiums were unaffordable now, just wait until the government sees fit to take all of your money to plug a program that will not only bankrupt you, but the government as well.
Kenneth Schortgen Jr¬†is¬†a writer for¬†The Daily Economist,¬†Secretsofthefed.com,¬†Roguemoney.net, and¬†Viral Liberty, and hosts¬†the popular¬†youtube podcast¬†on Mondays, Wednesdays and Fridays.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.