I’ve noticed that hardly anyone, whether mainstream media or other media, has focused on the tremendous costs about to be incurred as a result of Obamacare. And, by that I don’t mean just the huge extra costs that those, whose policies have been cancelled will incur as they have to sign up for other private policies or enter the national exchanges. These extra costs alone will be very significant. But, what I’m also concerned about is that very little attention is being focused on the total costs imposed upon the American taxpayers to pay for all the Obamacare subsidies that are being offered not just to low-income people, but also being offered to a family of four earning less than $94,000 annually. Neither the White House, HHS, or the Treasury will comment on these new costs or their projected amounts.
Additionally, I’m also concerned about the little-discussed downstream impact to our overall economy from these extra financial burdens caused by Obamacare. As Bruce Johnson discusses below, we have had numerous instances in the past, where price spikes, such as a sharp increase in gasoline prices, caused a very noticeable drop in consumer spending and economic activity. Well, what about the effect of suddenly higher health insurance costs on the average American family. Even a additional expense of fifty to several hundred dollars per month per family, as a result of higher health insurance premiums, could cause a meaningful slowdown in consumer spending, as hard-to-come-by dollars are reallocated. To me, this is another major worry!
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