Obamacare: The worst single piece of legislation in American history continues its slide into fiscal oblivion

By Rob Janicki

Obamacare participation rate for previously uninsured individuals fails to meet CBO projections by 50%.

In March 2010 ... the Congressional Budget Office (CBO) projected that Obamacare would cost $938 billion over a decade and would reduce the number of uninsured people by 19 million as of 2014 (with a reduction of 1 million prior to 2014 and 18 million in 2014 alone). 

Despite overwhelming public unpopularity, Obamacare was pushed through by Democrats with not one single vote by a Republican in either house of Congress.

Two years later ... the CBO adjusted its projection for the number of uninsured accordingly.  Itprojected that Obamacare would reduce the number of uninsured by 14 million as of 2014 (2 million before 2014 and 12 million in 2014 alone), at a 10-year cost of $1.677 trillion — or $739 billion more than the 2010 projection.  (This February, the CBO projected that Obamacare’s 10-year cost would eclipse $2 trillion.)

But it only gets worse with time and subsequent CBO projections.

In February of this year, the CBO projected that Obamacare would reduce the number of uninsured by 13 million as of 2014.  In April, the CBO had seen enough of the Obama administration’s skillful rollout of Obamacare to reduce that estimate to 12 million. 

The CBO has now indicated that it can no longer make any rational projections because the Obama administration regularly changes conditions through Executive Orders.

Now the Urban Institute finds that Obamacare has actually reduced the number of uninsured adults by 8 million since the rollout began last fall.  (Gallup shows a similar number.)  That’s far short of the number of newly insured that the CBO projected in April of this year, in February of this year, or in 2012 — and it’s less than half the tally the American people were told Obamacare would hit when they opposed it in 2010. 

To rational thinkers, its obvious that Obamacare will result in two major failures.  The first failure is that it will insure only 50% of previously uninsured individuals.

The second and most important failure is the huge increase in the cost of Obamacare to the extent that it will be fiscally impossible to fund going forward.

Meanwhile the left's most educated intellectual idiot, Paul Krugman, thinks all is going well with Obamacare.

Paul Krugman says that “health reform is — gasp! — working.”  Only in Washington could something that fails to hit even half of its original target be considered a gasp-inducing success. 

In my opinion the congressional midterm elections on November 4th, will be a referendum on Obamacare as more and more people understand that Obamacare cannot work and must be scrapped to save America.  That's not to say America's health insurance system can't be fixed.  It can and it will be up to Republicans to once again, layout a complete and comprehensive alternative to Obamacare, as they have in the past.  No one on the political right has ever suggested going back to the health insurance system pre-Obamacare.  We know what needs to be fixed and we know how to fix those deficiencies that will make health insurance more affordable for the greatest number of Americans.