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CBO: Obamacare to have negligible effect in number of uninsured

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Yesterday, President Barack Obama made a rousing speech in the White House Rose Garden late yesterday, April 1, 2014, touting the resounding success of the Affordable Care Act a/k/a Obamacare. He said, "...despite several lost weeks out of the gate because of problems with the website, 7.1 million Americans have now signed up for private insurance plans through these marketplaces -- 7.1." Then later in the speech he said, "All told, because of this law, millions of our fellow citizens know the economic security of health insurance who didn’t just a few years ago -- and that’s something to be proud of."

One of the many issues plaguing Obamacare is the issue that ten years later there will still be an estimated 31 million Americans without health insurance according to the non-partisan Congressional Budget Office (CBO). Utilizing a February, 2014 baseline, the CBO released a report of projections of the effect of Obamacare on the country. In that report is showed the number of non-elderly Americans without health insurance will level off at about 31 million in 2021 a remain at that number through at least 2024. This takes away from the main purpose of passing the ACA into law by having all Americans insured. It also showed the average taxpayer funded subsidy will rise to $8,370 per enrollee by 2024. This year, taxpayers are expected to fund an average of $4,700 per enrollee.

In my personal situation, I saw my premium nearly triple and my deductible increase from $1,000 to over $6,000. Hardly a bargain for someone like me and many question how "affordable" such a plan is from the one I had prior. For the young and uninitiated, the deductible is what one will pay out of their own pocket within any given year before the insurance company starts paying anything.

The CBO report also found the total cost of Obamacare to the U.S. taxpayer is expected to increase the federal deficit by $1.78 trillion over the next ten years. Over the same time period Americans are expected to pay the government an extra $52 billion in penalties that could have gone into the economy.

Libertarians would like to see Obamacare repealed with Libertarian Party Executive Director Wes Benedict stating in February, "People and politicians of both major parties have cooperated for more than a century to build a bigger government, program by program. There's no number to call or person to contact to stop this. Big government is not just current culture — it's now part of American heritage. The New Deal started eighty years ago and hasn't stopped. Some even say that the conservative Heritage Foundation provided the foundation for the worst aspects of Obamacare." He went on to explain one of the best ways to repeal Obamacare is at the ballot box this November by voting in Libertarian Party branded candidates.

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