Today marks Obamacare’s second (and hopefully last) birthday, but don’t expect any fanfare or parties. There are no ticker tape parades planned, no balloons bought, and no cake to be handed out. In reality, President Obama is spending most of the day hoping that everyone forgets what was once supposed to be his most glorious accomplishment.
When asked earlier this week if Americans could expect to hear from the president on the anniversary of the health care law, White House press secretary Jay Carney demurred. “The president is focused on doing everything he can, with Congress and independently, to help our economy grow and create jobs,” Carney said. “The president does speak about health care on occasion and will continue to do that, but he is focused on a forward agenda right now.”
Translated out of Washington campaign speak: “Heck no we’re not going to talk about Obamacare! Have you seen its poll numbers? They’re terrible. Instead, we’re going to pretend as if it didn’t happen and keep saying the word “jobs” as much as possible, because frankly that polls well.”
And those numbers sure are terrible.
According to a new Washington Post-ABC News poll 67 percent of Americans want the Supreme Court to throw out the entire law, or at the very least, the individual mandate. The poll also found that only 41 percent of Americans support the health care law, while a majority (52 percent) was opposed. Contrary to Democrats long stated belief that the law would grow more popular as its provisions became more known, Obamacare has never received a majority of support in Post-ABC polling.
Those poll numbers may even go down now that the Congressional Budget Office has provided a clearer picture of Obamacare true cost. In a new review of the bill’s pricetag the CBO found that from 2013 through 2022 the health care reform bill will cost $1.76 trillion – that’s almost twice the $938 billion that the CBO predicted when the bill was passed.
The price hike came as no surprise to those who carefully followed Obamacare’s passage. Democrats carefully manipulated the implementation timeline and the CBO’s scoring rules to ensure that the original cost estimate looked as favorable as possible.
One of the key tricks they used was delaying benefits of the law for four years in order to push much of the expense out of the CBO’s standard 10-year budget window. “Spending doesn’t begin until 2014, and so you got to count a couple of years where nothing was going on,” former CBO Director Douglas Holtz-Eakin told Fox News. “Now those years are steadily going into the rearview mirror and what we’re instead (at) are years where it’s fully implemented. . .The Affordable Care Act is going to cost a lot of money.”
Once again, young adults and future generations will be left to pick up the tab for the government’s largesse.
Of course, that’s not the only way young adults will be hurt by Obamacare. Traditionally, the cost of insurance is indexed to numerous factors that are correlated with your overall health. Under this system your age is a primary determinant of the cost of insurance because younger people tend to be healthier and thus cheaper to insure.
Research by the Heritage Foundation shows, “The natural variation by age in medical costs is about 5 to 1 – meaning that the oldest group of adults normally consumes about five times as much medical care as the youngest group.” But under Obamacare the maximum variation allowed in premiums is 3 to 1, yet another way that wealth is being transferred from younger generations to older ones, despite research showing that they are 47 times richer!
Given the facts it is little wonder that President Obama is trying to keep his signature bill under wraps on its birthday. Because after two years of seeing the bill’s effects, it’s clear that it is a millstone around the neck of the economy, not a milestone to be celebrated.