The Medicare Office of the Actuary released their report on ObamaCare, and (brace yourself for a shock) have found that the program will increase health costs, drive many hospitals into bankruptcy, and decrease the availability of health care to senior citizens.
Other than that, it’s friggin great. Thanks Patrick Murphy!
[T]he analysis…found that the law falls short of the president’s twin goal of controlling runaway costs, raising projected spending by about 1 percent over 10 years. That increase could get bigger, however, since the report also warned that Medicare cuts in the law may be unrealistic and unsustainable, forcing lawmakers to roll them back.
In particular, the warnings about Medicare could become a major political liability for Democratic lawmakers in the midterm elections. The report projected that Medicare cuts could drive about 15 percent of hospitals and other institutional providers into the red, “possibly jeopardizing access” to care for seniors.
That’s not all. The CBO, which was forced to make projections based on the faulty assumptions provided by Democrat leadership before the bill was passed, now says that 4 million American families will face tax penalties for not buying government-mandated health insurance.
In another flashing yellow light, the report warned that a new voluntary long-term care insurance program created under the law faces “a very serious risk” of insolvency.
I guess when you’re $3 trillion in debt, another insolvent government program is just a “yellow light.” Remember, “we have to pass the bill so that you can find out what is in it.“ Now we know.
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