There is No Fix: “The Entire System Will Detonate Within the First Year”
November 14th, 2013
We’ve got a serious problem on our hands and it’s one that many Obamacare apologists refuse to admit.
The Patient Affordable Care Act is an unprecedented catastrophe in the making.
While millions of Americans are losing their health care coverage within weeks, the health care exchanges advocated by Obamacare supporters are in shambles. So far, a little over 100,000 people have signed up. Moreover, what’s important to understand is that none of these people have yet paid a premium, so in essence, those are preliminary numbers. When the monthly bill comes due, we’ll see how many people actually have the money to pay the exorbitant new rates.
The key problem is one of basic arithmetic.
Remember, what this legislation does is it robs from Paul to pay Peter. This means that the whole system is essentially a pyramid scheme that depends on one group of people paying the premium for those who are the beneficiaries of this “free” and “affordable” insurance.
As we know all too well, the new rates for those who have to pay into the system are double or triple their previous insurance premiums – and those newly minted rates actually stand to double again because there is not enough money in the system to provide coverage for everyone.
We can sum this up in two words: Unmitigated Disaster.
And just so we’re clear, we’re not talking about these issues rearing their head a decade or so down the road.
We’re talking about mere months before the whole thing falls apart.
The scary thing? When it crumbles, the broader economy goes with it.