How Much Will the ACA Increase Health Care Spending?
This is from Chris Jacob:
People worried about ObamaCare’s impact on the American health care system should remember one key number: $621 billion. That’s the amount that non-partisan actuaries at the Centers for Medicare and Medicaid Services (CMS) said ObamaCare would increase national health spending over the next 10 years, in a report released yesterday…
[T]he actuarial report analyzes the sources of some of the increased health spending due to ObamaCare. And, as Exhibit 4 (below) notes, one of the fastest sources of growth in the health sector will be “government administration.” Spending on government administration — which includes salaries for federal, state, and local bureaucrats, as well as computer and other overhead costs for government programs—will more than double, rising from $31.1 billion in 2010 (the year ObamaCare passed) to $70.4 billion in 2022.
Well, the good news is that the Chinese will likely destroy us in the next few years, so I doubt we’ll actually realize the $621 billion.
They’ll destroy us because of the $621 billion amongst other things.
Gotta love that silver lining…
I’d say to always look on the bright side of life, but the smog from Beijing is making things a bit dark.
But the debt doesn’t matter right?
Not in an immediate sense, but it’ll catch us eventually. We need to be fiscally responsible now.
This report is a bit depressing. Why are people still in support of ACA? They are out of their minds…
Because if people just paid their fair share and didn’t hide behind tax loopholes that their private lawyers find for them, then there wouldn’t be a problem.
The problem with the “fair share” argument is that if they pay more, the government does less, thus their “fair share” increases. You get a chase that never ends.
It has been shown time and time again that money is used most efficiently by those who earn it, not a third-party.
*does less with the money than what was done by the individual.
The individuals are just letting their money sit in the bank, it’s not going to any use. Even if the maximal good the government does less than the maximal good of what the individual does, it doesn’t change the fact that the individuals are largely not doing anything.
That money is being used as investment in enterprise. Money in the bank or in the stock market isn’t money sitting around.
Oh great, billions more spent on “government administration.”
We can thank Woodrow Wilson.
Good ‘ol father of public administration.
Just what we need.
Nothing pleasant here, but one might point out that the costs of administration in private insurance companies grew just as fast from 1990 to current as the cost of government administration will grow from 2012 to 2022.
This is an equal opportunity dilemma.