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Sunday, December 04, 2016

Obamacare added more than a trillion to health care spending

The health care industry and Obama (whose wife was a $300,000-a-year part-time worker at the University of Chicago's hospital when he was a senator) laugh all the way to the bank at the liberal suckers and news media who elected and re-elected Barack Obama as president.

They say thanks a trillion.

Health care is nearly a trillion dollars-a-year more expensive than oit was when Barack Obama took office.

After a 4% increase in 2008, when we elected him, health spending rose 72% in the next 7 years.

From the New York Times in 2010:
Health spending grew in 2008 at the slowest pace in 48 years as the recession throttled back the explosive growth of health costs, the federal government reported Monday.
Health spending topped $2.3 trillion in 2008, up 4.4 percent from the previous year. But the rate of growth in 2008 was down from 6 percent in 2007 and an average increase of 7 percent a year in the decade from 1998 to 2008. Health care accounted for 16.2 percent of the gross domestic product in 2008, up from 15.9 percent in 2007, according to the report, by the Department of Health and Human Services.
From MSN today:
The nation's health care tab grew at the fastest rate in eight years in 2015, driven by the coverage expansion in President Barack Obama's law and by costly prescription drugs, the government said Friday.
The growth of 5.8 percent in 2015 boosted total health care spending to $3.2 trillion. That's an average of $9,990 per person, although the vast share of that money is spent caring for the sickest patients.
One Big Ass Mistake, America.

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8 comments:

  1. "whose wife was a $300,000-a-year part-time worker at the University of Chicago's hospital when he was a senator)"

    Talk about bed-panning for gold...

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    1. Most of the added spending goes into administration, just like in education. It's a racket. If you want to see local doctors come back two things could be done that would have an immediate impact. Repeal CLIA-88 and allow physicians office laboratories to come back, and make physician reimbursement equal for metropolitan and rural physicians.
      My own preference would be to abolish occupational licensing and accreditation, but that is not likely to happen unless a vast majority of the people think as deeply about health care as they do sports.

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  2. Medical costs grew at about 3 times the official rate of inflation in 2015. It will be far worse in 2016.

    The GOP and Trump have a viable patient centered, market based plan, but don't plan on the cost of medical care delivery going down. The most expensive part of Obamacare is the requirement for insurers to cover pre-existing conditions in the same rate pool as everybody else. That's a very popular provision that won't totally go away. Even if pre-existing gets taken out of the general rate pool and covered under some gubmint high-risk pool, the money WILL have to come from somewhere.

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    1. One thing that has to happen is severe penalties for high risk patients to drop their health plans. If they do, and something happens later (inevitable) there should be a high buy-in based on their assets and income. The carrot should be that people should be able to carry plans from job to job and state to state.

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    2. You mean if you like your health plan you can keep your health plan?

      Obungler was just the front man for this disaster. Max Baucus, a Dimocrat senator from a red state, Montana, wrote a big portion of the bill and the Dims had the votes to ram it down our throats. Why did they have the votes? Because Bush 43 and the Republicans from 2000-2006 spent money like drunken sailors and allowed the Dimocrats to run as fiscal conservatives. That would be funny if it hadn't turned out to be a disaster. Warning to Republicans and Donald Trump: Don't repeat that disaster and go on another spending spree by among other things, bringing back earmarks.

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  3. Wasn't Mooch one of highly sought after diversity experts @ the hospital? At the position that was eliminated after Mooch left? That's what I thought.

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  4. Of course. It's a feature, not a bug. Our Betters know how to feather their own nests at our expense. And they won't stop at Obamacare. - Elric

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