Jonah Goldberg on ObamaCare’s “third lie,” that it would save money for you and the country:
Obama promised on numerous occasions that the average family of four will save $2,500 a year in premiums. Where did that number come from? Three Harvard economists wrote a memo in 2007 in which they claimed that then-Senator Obama’s health-care plan would reduce national health-care spending by $200 billion. Then, according to the New York Times, the authors “divided [$200 billion] by the country’s population, multiplied for a family of four, and rounded down slightly to a number that was easy to grasp: $2,500.”
In September, the Obama administration’s Centers for Medicare and Medicaid Services used far more rigorous methods to predict that Obamacare would increase national health-care spending by $621 billion. Using Obama’s own math, that would mean — according to Chris Conover, an economist at the American Enterprise Institute and Duke University — each family of four in America will spend an additional $7,450 thanks to Obamacare.
Of course, that methodology is still bogus. But it’s probably closer to the truth.
ObamaCare’s fourth lie, or at least one of its many excuses, is that people faced bankruptcy because of their medical bills. But ObamaCare fixes that, because now they’ll face bankruptcy because of their health insurance.