Administration Touts Obamacare Success – Not So Quickly!

Administration Touts Obamacare Success – Not So Quickly!

The White House took advantage of a recent Congressional Budget Office (CBO) report to claim some footage in its battle to defend Obamacare. The report’s data appears to suggest the program’s success with covering the uninsured while reducing costs 20% less than the agency had originally anticipated. However, after dissecting the numbers, Forbes effectively counters these claims by revealing that the unanticipated cost decline results from coverage of fewer individuals than planned. About the CBO forecasts, Forbes explains, “In a March 2011 report, the nonpartisan agency predicted that Obamacare would extend coverage to 34 million uninsured by 2021. It has since downgraded that number to 27 million — and concluded that Obamacare will leave 31 million Americans without insurance.” Continuing to extract disappointing findings from the CBO numbers, Forbes notes, “National health spending shot up 5.6% last year. The agency predicts that it will climb 6% a year for the foreseeable future. That’s a 50% uptick from the average annual health inflation rate over the past six years. Meanwhile, by offering subsidies for the purchase of insurance on state or federal exchanges, Obamacare will increase demand for it. That will fuel further price inflation.”

Perhaps the Administration should refrain from getting so giddy over numbers that, in reality, portend a much darker outlook for our current national health care system. Siphoning through the CBO numbers does nothing more than give credence to those who insist on replacing Obamacare with a more solid, sensible system – one not fraught with endless disappointments and surprises.

 

Click here to read the full Forbes article. 

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