Obamacare a national disaster?
By Paul Cross
Annuity National Brokerage Co.
President Obama broke the Golden Rule: "Do unto others as you would have them do unto you." Or, said another way straight from the Bible: "All things that a man would not take to himself, it is not fit to do them to his brethren."
Has his legacy bit the dust, or will it rise again to bite all of us?
Is health care reform creating a national financial disaster sweeping across the nation like wildfire?
Here are some of my concerns
In my opinion, the government cannot compete with free enterprise. I believe Obama’s universal health care will drive up the cost of health care, increase the national debt, increase unemployment, increase the number of bankruptcies with inferior health care as doctors and health care providers close shop and increase federal income tax. The ripple effect will spill over on to doctors, nurses, medical firms and their employees.
As of November 6, 2013, more than four million people have lost their health insurance. I expect health insurance companies will start to downsize and lay off employees as they continue to cancel health insurance coverage.
The Obamacare mandate has created a substantial increase in people applying for Medicaid; who will fund it?
Now let’s take a look at the unfunded liabilities of Social Security, now approaching $17 trillion. If our government cannot manage Social Security, how can they possibly manage a universal health plan?
Let’s look further. The unfunded liabilities of prescription drugs are now more than $22 trillion and Medicare unfunded liabilities now exceed $87 trillion. Tally it all up and the unfunded liabilities exceed $122 trillion, more than a $1million per tax payer
Will family bankruptcies become the American family legacy?
Now consider all of the money that has been spent thus far on the implementation of Obamacare.