Would you like to read an excessively optimistic view on health care reform? Sen. Mary Landrieu’s op-ed highlights what she believes to be the greatest ObamaCare achievements, praising the full coverage of Louisiana’s children, young adults, and seniors.
Claiming that “congress has finally delivered meaningful health care coverage to all Americans,” Sen. Landrieu argues that the new reform will “save businesses thousands of dollars each year which will allow businesses to potentially increase wages or hire more employees.”
But Sen. Landrieu is overly confident – and even deceptive – because she is neglecting important facts behind the new health care reform: its costs. As Michael Cannon from the Cato Institute points out:
“Obama’s plan [aka: ObamaCare] would vastly increase the size and scope of the federal government, and increase our already record federal deficit”
The Congressional Budget Office estimated costs to be around $940 billion, but this projection takes into account only the costs to expand current health insurance coverage. Considering other unavoidable spending provisions, the costs would amount to around $1.2 trillion. And that is a conservative estimate. Further, the new health care reform will force nearly all Americans to purchase health insurance, set price controls on the private health insurance industry, and increase the federal deficit by providing more than $1 trillion in subsidies.
Sure, Landrieu is right to claim that these reforms will extend coverage to more children, seniors, and sick individuals. Unfortunately she fails to acknowledge that this will not be sustainable in the long run.