Acton Institute Powerblog

Obamacare Prognosis: Not Looking Good

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I’m a little slow getting to this–some readers have doubtless already seen media reports–but if you weren’t yet aware of the Obama Administration’s actuaries’ study of the probable effects of Obamacare (released last Thursday), you should be. Our friend, Grace-Marie Turner of the Galen Institute presents the lowlights at NRO. Among the predictions:

Tens of billions of dollars in new fees and excise taxes will be “passed through to health consumers in the form of higher drug and devices prices and higher premiums.”

Under the new law, national health spending will increase by $311 billion over the coming decade. And instead of bending the federal spending curve down, it will move it upward “by a net total of $251 billion” over the next decade.

Mounting evidence that the majority of our nation’s lawmakers, who thought this was a good idea, were, to put it kindly, mistaken.

Kevin Schmiesing Kevin Schmiesing, Ph.D., is a research fellow for the research department at the Acton Institute. He is a frequent writer on Catholic social thought and economics, is the author of American Catholic Intellectuals, 1895-1955 (Edwin Mellen Press, 2002) and is most recently the author of Within the Market Strife: American Catholic Economic Thought from Rerum Novarum to Vatican II (Lexington Books, 2004). Dr. Schmiesing holds a Ph.D. in American history from the University of Pennsylvania, and a B.A. in history from Franciscan University ofSteubenville. Author of Within the Market Strife and American Catholic Intellectuals, 1895—1955 (2002), he serves as Book Review Editor for the Journal of Markets & Morality. He is also executive director of CatholicHistory.net.

Comments

  • SINI NGINDU BINDANDA

    Thank you to your view point about health spending which will increase. As you know it better than I do I think, we whom live in the underdevelopped countries and who are victims of the different wars camps in Africa, Asia, may be South America we realise that the World, especially the Develloped Countries put incoumptable amount of money making weapons, destroying human beings, destroying the ecology, precious monuments and even the militaries whom go to kill are themselves killed in military abandonning families, widows, orphans, etc. But as a rule nations don’t complain about that. We find it natural, good thing. But if the same amount of maney is putting to cure peaople, it becames a waste. How can you not go on strike until to beg stop the war all ovether the World and we may recuparete such money to help people in different aspects of the life.
    Instead of complaing against billions for health it’s good to complaing for money wasted in wars because here human life both militaries and civils will be loose. But healthcare save life.
    Thank you!

    sini ngindu bindanda