Thursday, July 28, 2011

'Affordable Care Act' Turns Out to be Unaffordable

The new report that has come out telling us ObamaCare is increasing health care costs reminds me of a scene from the movie Casablanca:

In other words, I'm shocked, shocked to find out ObamaCare is not going to do what Obama and the Democrats told us it would do! We all knew they were lying! - Reggie

Health care law won’t rein in costs, study says
Critics of Affordable Care Act cite government’s own forecast

Despite President Obama’s promises to rein in health care costs as part of his reform bill, health spending nationwide is expected to rise more than if the sweeping legislation had never become law.

Total spending is projected to grow annually by 5.8 percent under Mr. Obama’s Affordable Care Act, according to a 10-year forecast by the Centers for Medicare and Medicaid Services released Thursday. Without the ACA, spending would grow at a slightly slower rate of 5.7 percent annually.

CMS officials attributed the growth to an expansion of the insured population. Under the plan, an estimated 23 million Americans are expected to obtain insurance in 2014, largely through state-based exchanges and expanded Medicaid eligibility.

The federal government is projected to spend 20 percent more on Medicaid, while spending on private health insurance is expected to rise by 9.4 percent.

The projections came as the legal challenges to the health care bill finally reached the U.S. Supreme Court. In a filing Wednesday, the Thomas More Law Center asked the justices to strike down the law, appealing a lower-court ruling that Congress has the authority to require Americans to buy health insurance.

But the projections also gave Republicans - who uniformly opposed the legislation - an opportunity to remind Mr. Obama of the emphasis he put on cutting back health care costs. While trying to sell his health care plan in 2009, Mr. Obama frequently stressed “bending the cost curve.”

“Simply put, this report states the obvious, that Americans have known for more than a year - the $2.6 trillion law only makes the fundamental problem of skyrocketing health care costs worse,” said Sen. Orrin G. Hatch, Utah Republican and ranking member of the Senate Finance Committee.

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