Thursday, October 31, 2013

Facts Are Stubborn Things

In support of Congress passing the Patient Protection Affordable Care Act or ObamaCare as the panacea to America's healthcare woes President Barack Hussein Obama, Vice President Joe Biden, Senate Majority Leader Harry Reid, House Speaker Nancy Pelosi and a host of liberal Democrats ridiculed and chastised critics saying “facts are stubborn things” as they spread their own misinformation about the law, including these gems:

  • If you like your doctor you will be able to keep your doctor. Period.
  • If you like your healthcare plan, you will be able to keep your healthcare plan. Period.
  • Premiums will be reduced by $2,500.
  • The cost around $900 Billion over 10 years.
  • ObamaCare will reduce the debt by $4 Trillion.
  • ObamaCare will not cover illegal aliens.
  • ObamaCare will not include abortions on-demand
  • Conservatives have not offered an alternative.

The Washington Post, arguably one of the most liberal newspapers and ardent Obama supporters, recently reviewed the first to statements and awarded four Pinocchios, the highest possible, effectively saying the statements were outright lies. The remaining statements were never supportable and are simply not true. That they entered and remain in the public's ObamaCare consciousness represents a failure of America's news outlets to investigate and report the truth.

All of which ignores the fundamental healthcare problem identified and championed by President Bill Clinton until he was silenced by Obama, America's exorbitant and growing spending on healthcare! The graph below was reported by the Organization for Economic Co-Operation and Development (OECD), in 2011, the most recent year in which most of the countries reported data on healthcare spending as a percentage of GDP.

  • The U.S. spent 17.7% of its GDP on health care
  • None of the other countries reported spending higher than 11.9%
  • The US GDP for 2011 was $14.4 Trillion
  • Therefore America spent $2.6 Trillion on healthcare that year
  • The Congressional Budget Office reports the cost of ObamaCare is $1.8 Trillion over 10 years
  • Spread evenly the cost for ObamaCare is $180 Billion a year.
  • Therefore, ObamaCare will increase annual spending on healthcare by 7%.
  • Which will in turn increase annual spending as a percentage of GDP to 18.9%

These expenditures are all the more amazing when you consider that America’s GDP is far and away greater than most other nations as shown in the graph below of the worlds top 10 GDPs!

GDP (purchasing power parity) - Ranking

America's spending on healthcare is dramatically disproportional to other countries and ObamaCare is not helping!

While the president was misleading America and enslaving future generations with socialistic policies that have never worked and in complete contradiction to Obama's lie that conservatives were not offering a solution the Cato Institute offered the following bright light: Yes, Mr. President: A Free Market Can Fix Health Care.

Obama was right about one thing, facts are stubborn things. America never should have enacted ObamaCare and had Barack Obama and his supporting cast of deceivers not lied about the benefits of ObamaCare so utterly and pervasively America would be far better off than we are now.

Happy Halloween!

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