The KITCHEN TABLE IMPEACHMENT of Barack Obama - ObamaCare - Ebola - Illegal Aliens - Barack Obama - Hillary Clinton - Economic Collapse - ISIS ISIL Syrian War -
Obamacare’s Five
Biggest Broken Promises
1.
Won’t Add To
The Deficit: In a speech
before a joint session of Congress in 2009, the President had this to say: “And
here’s what you need to know. First, I will not sign a plan that adds one dime
to our deficits—either now or in the future. I will not sign it if it adds one
dime to the deficit, now or in the future, period.” He later added that “it is
paid for. It is fiscally responsible. And it will help lift a decades-long drag
on our economy.”
REALITY: A Senate
Budget Committee analysis based on Congressional Budget Office and Joint
Committee on Taxation data indicates that Obamacare will increase the deficit by
more than $100 billion over the next 10 years, despite massive tax increases.
And, according to a study by the
Government Accountability Office, under a realistic set of assumptions the
health care law will increase the deficit roughly $6.2 trillion over the next 75
years.
2.
Good For The
Economy: Former
Speaker of the House Nancy Pelosi famously claimed that the health care law
would “create 4 million jobs, 400,000 jobs almost
immediately.”
REALITY: CBO
estimates Obamacare will produce a dramatic reduction in the number of hours
worked by Americans as well as the size of the overall labor force, the
equivalent of 2.5 million fewer Americans working full-time as a result of the
law. It further estimates that the law will cause a reduction in aggregate labor
compensation equivalent to a $1 trillion in lost wages—or an average of $820 per
worker, per year. And University of Chicago economist Casey Mulligan estimates
that, by 2015, the health care law will permanently reduce the size labor market
3 percent—which is similar to losing approximately 3 to 4 million full-time
jobs.
3.
Reduce Health
Care Costs: The
President said his law would “lower costs for families and for businesses and
for the federal government.”
REALITY: The
non-partisan actuaries at the President’s own Centers for Medicare and Medicaid
Services (CMS) project the law will increase health care spending as a share of
our total economy—in other words, the law bends the cost curve in the opposite
direction. Average family premiums are up $3,500 since 2009, according to the Kaiser
Family Foundation. Three different Federal Reserve Bank surveys have shown that
Obamacare is causing employers to replace full-time with part-time workers,
reduce hiring, and raise employee premiums on the health plans they offer. And
after the law was enacted, CBO Director Douglas Elmendorf concluded: “Rising
health costs will put tremendous pressure on the federal budget… In CBO’s
judgment, the health legislation does not substantially diminish that
pressure.”
4.
Spend
Less Than $1 Trillion: President
Obama promised a joint session of Congress in 2009 that his plan would spend
less than $1 trillion: “Now, add it all up, and the plan that I’m proposing will
cost around $900 billion over 10 years.”
REALITY: After adding
up all the different spending provisions in the law, total gross spending was
projected to be about $1.4 trillion, based on the CBO cost estimate at the time
of enactment. And while that estimate covered the 10-year budget window from FY
2010–2019 used at the time, most of the major spending provisions in the law did
not even begin until 2014. Senate Budget Committee analysts used CBO data to
calculate that the President’s plan would spend an estimated $2.6 trillion over
a true 10-year period (from FY 2014–23)—nearly three times more than
promised.
5.
Will
Not Raid Medicare: The
President promised “not a dollar of the Medicare trust fund will be used to pay
for this plan.”
REALITY: CBO and the non-partisan actuaries at CMS indicated
that hundreds of billions of dollars in Medicare savings were double-counted
under the plan. Democrats claimed the Medicare cuts and tax increases in the
plan could make Medicare more solvent and at the same time offset the cost of
the new health care entitlement created under Obamacare. CBO estimated that without this double-counting
gimmick the health law would, in fact, increase the deficit over its first 10
years and the subsequent decade as well.
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