Standing in the Rose Garden on November 7th, President Barack Obama celebrated the passage of the House health care bill claiming: “The Affordable Health Care for America Act is a piece of legislation that will provide stability and security for Americans who have insurance; quality, affordable options for those who don’t; and bring down the cost of health care for families, businesses, and our government, while strengthening the financial health of Medicare.”
Quite a bold statement if true. But a report released Friday by the non-partisan and independent Centers for Medicare and Medicaid Services, the agency in charge of running Medicare and Medicaid, blows the lid off of every one of Obama’s claims. All of the following quotes are from the report itself:
”Health Care Costs Increase:” “In aggregate, we estimate that for calendar years 2010 through 2019 [national health expenditures (NHE)] would increase by $289 billion, or 0.8 percent, over the updates baseline projection that was released on June 29, 2009.” In other words, Obamacare bends the cost curve up, not down.
”Millions Lose Existing Private Coverage:” “However, a number of workers who currently have employer coverage would likely become enrolled in the expanded Medicaid program or receive subsidized coverage through the Exchange. For example, some smaller employers would be inclined to terminate their existing coverage, and companies with low average salaries might find it to their – and their employees’ – advantage to end their plans