With the November elections coming up fast, it would be a good time to take another look at Obamacare and what a burden it will be –right in the middle of a serious economic Depression. Despite the illusions of many people in America, Obamacare is nothing less than FORCING most working Americans to buy health care insurance. We’re already shelling out a lot of money for mandatory car insurance even though people somehow got by without car insurance until about 1975. The insurance companies however buy crooked politicians and hence we have mandatory car insurance and soon mandatory health care insurance. How much will this wind up costing us? A lot. Below is an article from CNS giving some alarming details. –James Buchanan
The U.S. House of Representatives voted 219-212 on Sunday night to socialize health care in the United States, making the government the paymaster of, and giving it sweeping regulatory authority over, the U.S. health care industry which represents one-sixth of the U.S. economy.
The legislation also enacts a dramatic and unprecedented diminution in the individual liberty of citizens. It does so by mandating that all Americans buy a government-approved health care plan while redistributing wealth on a massive scale by promising annual federal insurance subsidies to all Americans who earn less than 400 percent of the poverty level, which is currently $88,200 for a family of four.
[…]
Five self-professedly “pro-life” Democratic congressmen joined Stupak at a Sunday press conference to say that they would vote for the health care plan after President Obama promised he would sign this Executive Order dealing with the accounting mechanisms that will be used by abortion-providing, federally subsidized health insurance plans. These congressmen were Rep. Marcy Kaptur (Ohio), Rep. Kathy Dahlkemper (Pa.), Rep. Steve Driehaus (Ohio), Rep. Alan Mollohan (W.V.), Rep. Nick Rahal (W.V.)
According to the CBO, by 2016, the cheapest family health care plan that Americans will be required to buy under the law will cost $12,000 per year. The average family plan will cost $15,200. A family of four making $88,201 per year—or more than 400 percent of the poverty level—will not receive any federal subsidy to purchase such a plan. They will pay taxes, however, to subsidize the health care purchases of people earning less than 400 percent of poverty.
According to the Treasury Department the Medicare system faced about $37 trillion in unfunded liabilities before Sunday’s bill was passed.
