WASHINGTON — The Obama administration on Friday defended the new health insurance law after a report from its own Medicare services agency showed the provisions will INCREASE the nation‘s health care tab over the next 10 years instead of bringing costs down.
Well, surprise, surprise, surprise!
They have lied, folks, and are now defending their lies. We all know it. I dare say more ordinary citizens have read and researched this health care law than members of the congress. And the press? Where were they?
And Queen Kathleen ignores it:
Health and Human Services Secretary Kathleen Sebelius ignored the bad news Friday, emphasizing that Chief Actuary Richard S. Foster agrees that 34 million people will be insured who aren’t currently.
Robert Gibbs whines about “tired arguments”:
“I don’t doubt that those who opposed health care reform are going to continue to make the same, tired old arguments that have been made for years and years as it relates to health care.The president will and the administration will continue to talk about the benefits of what was passed in the law as many of those benefits come on line in the next several months,” he said.
Among the findings, the actuary concluded that:
– About 14 million people would lose their employer coverage by 2019 as smaller employers terminate coverage and workers who currently have employer coverage become enrolled in Medicaid;
– The estimated reductions in the growth rate of health spending “may not be fully achievable” because “Medicare productivity adjustments could become unsustainable even within the next 10 years, and over time the reductions in the scope of employer-sponsored health insurance could also become an issue”;
– New fees and taxes on medical device makers will “generally be passed through to health consumers in the form of higher drug and devices prices and higher premiums”;
– By 2011 and 2012 the initial $5 billion in federal funding for the creation of a national high-risk pool “would be exhausted, resulting in substantial premium increases to sustain the program; we anticipate that such increases would limit further participation”;
– It is reasonable to expect that a significant portion of the increased demand for Medicaid would be difficult to meet, particularly over the first few years”;
– Businesses would pay $87 billion in penalties between 2014-2019 for failure to offer insurance.
A separate CBO analysis released Thursday estimated that 4 million households would be hit with tax penalties under the law for failing to get insurance.
The truth comes out as time goes on, and is there any wonder I don’t trust what Chris Dodd and the administration is saying about the financial reform bill?