This is what Obama wants for America. I’ll give you the short version. This is from the 3-1-10 Wall Street Journal.
Massachusetts insurance premiums are the highest in the nation. Since Romneycare they’ve climbed at an annual rate of 30%. Small business by 5.8%. The per capita health spending in Massachusetts is now 27% higher than the national average. So much for reducing health care costs, per Obama. Just ignore empirical data, Mr. President. Not relevant.
The “medical loss ratio” in Massachusetts is 112%. Insurers pay $1.12 and collect $1.00 in premiums. So, the ceiling hasn’t been hit on insurance costs.
The state has run over budget every year. For 2010 $47 million over, and the governor, a friend of Obama, requested $913 million for 2011, up 5%, the annual spending increase has been 6.7%. So much for good budgeting.
The solution, Deval Patrick, the governor, will cap insurance premiums. Sound familiar?
Why is this happening? Young and uninsured job the system. Don’t buy insurance and pay the fine. When they get sick, they buy insurance. Can’t be denied. To cover the cost of only insuring the elderly, the people with company insurance, the already sick, and the newly sick, insurers have to raise rates. There are no offsets from young people or healthy people who are jobbing the system.
The end result after the freeze? Soon, only the state will be able to provide insurance. One insurer, the Bay State Insurance Company, the great state of Massachusetts. Sound familiar?
Despite what has happened in Massachusetts, President Obama continues to spin the tale that the plan he wants, almost identical to Romneycare, will work and will reduce health care costs.
Let’s take an abject failure and spread it around the nation. Let’s take a country on the verge of bankruptcy and push it to the brink. Let’s ignore all facts and make some up.
Basically, let’s lie to the public.
