When President Obama ran for office, he promised the American public a “single payer” healthcare system.
Meaning, he would create a government program that provided universal healthcare for all Americans, as well as anyone living here–legally or otherwise.
That resonated with many people, considering the exorbitant cost of healthcare. Yet most didn’t realize the massive burden such a program would put on taxpayers. Covering the medical costs of EVERY person in the country would be too much for most people to bear, not to mention lower the quality of healthcare, as many doctors wouldn’t stay in the profession (it’s common knowledge that the government puts caps on what they pay for, thus driving the quality of healthcare down).
What Obama did produce was halfway between single payer and traditional insurance. Obamacare coerced many health insurance companies into providing low-quality coverage, offset by taxpayer dollars. This has forced many companies to eventually withdraw from the program, as they were unable to turn a profit.
Those that stayed hiked their rates up to unprecedented levels, forcing the government to spend even more cash.
From Fox Business:
Taxpayers will fork over nearly $10 billion more next year to cover double-digit premium hikes for subsidized health insurance under President Barack Obama’s law, according to a study being released Thursday.
The analysis from the Center for Health and Economy comes as the Republican-led Congress is preparing to repeal “Obamacare” and replace it with a GOP alternative whose details have yet to be worked out. With incoming President Donald Trump likely to sign such legislation, historic coverage gains under the 2010 health law are at stake.
The study estimates that the cost of premium subsidies under the Affordable Care Act will increase by $9.8 billion next year, rising from $32.8 billion currently to $42.6 billion.
The average monthly subsidy will increase by $76, or 26 percent, from $291 currently to $367 in 2017.
We can all agree that healthcare is extremely expensive. But the solution is not for the government to fork over billions in cash. Instead of confronting the reasons why the medical profession charges so much for basic services (i.e.: GREED), Obama just wanted to write a blank check.
Now Americans are faced with paying even more in taxes, to pay for health coverage they don’t like and can’t even afford.
This is one of the reasons Trump had such an advantage during the election. He promised to repeal and replace Obamacare; Hillary had nothing.
Source: Fox Business