1. ObamaCare’s centerpiece, a Medicare-like “public option,” would cause millions of Americans to lose their employer-provided health insurance.
Millions of employers would choose this new “option” for their employees. The Lewin Group, a prominent consulting firm, estimates that under a widespread, Medicare-like “public option,” 118 million Americans would lose their private health insurance and be switched onto government-run care.
2. Government-run health care would lead to rationing.
President Obama wants to control health care’s rising costs. In the free market, that goal can be met through increased competition and choice. With the government in charge, there’s only one path to that end: rationing care.
3. ObamaCare would cost a fortune, and we’re already running higher deficits than during the Great Depression.
ObamaCare would cost a fortune, and we’re already running higher deficits than during the Great Depression — even when expressed as a percentage of our gross domestic product. Our GDP is now about 250x higher than during the Great Depression. Incredibly, our federal deficit is now about 400x higher (from $4.5 billion to $1.8 trillion). In inflation-adjusted dollars, we are now running the highest deficits in our nation’s entire history, higher even than during the Civil War or WWII. Only 55 percent of this year’s budget ($2.2 of $4.0 trillion) is coming from tax revenues; the rest is being borrowed.
White House budget director Peter Orszag says that every other federal program’s effect on future deficits will be “swamped” by Medicare and Medicaid. The last thing we need is a new Medicare-like program and an expansion of Medicaid.
4. ObamaCare would ruin private insurance.
When competing with FedEx and UPS, the Post Office has to provide an actual service. But the “public option” would merely use government’s coercive powers to dictate the prices of services provided by others — by doctors, nurses, and hospitals. Private insurance, which can’t do this and doesn’t get taxpayer financing, would be ruined.
5. ObamaCare would encourage people to leave the medical profession.
Medicare pays about 75 cents on the dollar for care. As private insurers dwindle, fewer costs could be shifted to them, medical professionals would take the hit, and fewer people would choose that profession. Do those who doubt this also doubt that higher pay attracts teachers?