**Posted by Phineas
Well color me shocked. Who would’ve guessed that a badly-crafted 2,000-page bill that no one read and was rushed through the night and is just chock-full of new regulations, bureaucracies, and mandates would actually bend the cost-curve up?
Anyone with a lick of sense, I guess, which lets out the Democratic Party, their Leftist supporters, and the fawning media. (But I repeat myself.)
From The Washington Times:
Despite President Obama’s promises to rein in health care costs as part of his reform bill, health spending nationwide is expected to rise more than if the sweeping legislation had never become law.
Total spending is projected to grow annually by 5.8 percent under Mr. Obama’s Affordable Care Act, according to a 10-year forecast by the Centers for Medicare and Medicaid Services released Thursday. Without the ACA, spending would grow at a slightly slower rate of 5.7 percent annually.
CMS officials attributed the growth to an expansion of the insured population. Under the plan, an estimated 23 million Americans are expected to obtain insurance in 2014, largely through state-based exchanges and expanded Medicaid eligibility.
The federal government is projected to spend 20 percent more on Medicaid, while spending on private health insurance is expected to rise by 9.4 percent.
A tenth of a percent is not small change, when we’re talking about the scale of healthcare spending in the US. Moreover, we were told that implementing ObamaCare was essential to bending the cost-curve down. Not even, not up.
So, then, what was the point? The only thing accomplished is greater government control over and regulation of a crucial sector of our economy, which will only lead to a nationalized, Socialized single-payer system.
Oh, wait. That is the point!
No matter what it costs the rest of us.
via Hot Air, which has the White House rebuttal.
LINKS: Pirate’s Cove notes that ObamaCare cost more than doing nothing. Fancy that.
(Crossposted at Public Secrets)