Tuesday, November 1, 2016

It's Not Just Premiums: ObamaCare Is Hiking The National Debt, Too

ObamaCare gets costlier with every passing day—and the attempts to conceal it are getting more misleading. The Obama administration acknowledged on Oct. 24 that insurance premiums on Healthcare.gov are rising 25 percent, on average. But it also tried to downplay these hikes by highlighting the increased subsidies that most people enrolled on the exchanges will receive. According to this logic, only a few million Americans will actually be on the hook for some or all of the higher rates. No big deal, right?
There’s just one catch: We’re all paying for these skyrocketing subsidies. They’re by taxpayers like you and me.
Tax subsidies and other costly provisions of ObamaCare are running up government spending, contributing to annual federal deficits, and increasing our $19.8 trillion debt. Every American taxpayer is on the hook for ObamaCare’s higher costs. And as ObamaCare dishes out higher subsidies to pay for higher premiums, the debt will multiply that much faster.
This is the reality of the Obama administration’s deceptive claim that taxpayer subsidies cover the law’s pain. Premium subsidies were always designed to make everyone purchasing through an exchange feel like they were getting a good deal. But the costs to taxpayers are considerable. The Congressional Budget Office estimates that the government gave out $27 billion in premium subsidies this year alone. Over the next ten years, CBO expects that amount to rise to $568 billion.

http://www.forbes.com/sites/andykoenig/2016/10/31/its-not-just-premiums-obamacare-is-hiking-the-national-debt-too/#7628012562ea 

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