Obamacare is Working . . .

October 25, 2016

. . . just as planned.  Premiums will increase by an average of 25% on Nov. 1 and Aetna and United Health insurance companies have recently dropped out entirely. Deductions will increase by thousands of dollars as well on Nov. 1.

Perfect.  Millions of people will realize that they simply cannot afford it; in some states so many insurance companies have dropped out that there is only one choice; and the “private” (but extremely heavily regulated for decades) insurance industry is going down the tubes.  I guess we’ll just have to have full-blown medical care socialism with 100% taxpayer funding of everything.

As Thomas Sowell has said, the fundamental assumption behind “Obamacare” is that we cannot afford doctors and hospitals, but we can afford doctors and hospitals with a gigantic new government bureaucracy piled on top of it all.

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Dr. Thomas DiLorenzo [send him mail] is a former professor of economics at Loyola University Maryland and a longtime member of the senior faculty of the Mises Institute. He is the author or co-author of eighteen books including The Real LincolnHow Capitalism Saved AmericaLincoln UnmaskedHamilton's CurseOrganized Crime: The Unvarnished Truth About GovernmentThe Problem with Socialism; and The Politically-Incorrect Guide to Economics