Hold the Bubbly

Even as Obamacare supporters are popping the champagne corks over a survey that indicates that some 8 million people have gained insurance over the last 10 months, there is no strong evidence that that the credit should go to O’Care. In his article “Is Obamacare Working,” Cato Institute’s Michael D. Tanner points out that it would be almost impossible to spend $1.8 trillion over 10 years without “accomplishing something.” “In hindsight,” Mr. Tanner writes, “we should have realized that if you are essentially giving something away — 91 percent of Obamacare enrollees either are receiving subsidies or are on Medicaid — people will take it.”

The real questions on Obamacare are (1) is it sustainable and (2) what will the consequences be to those who were already insured and happy with their coverage before the onslaught of O’Care? Read here from Michael Tanner the problems facing Obamacare—from not enough young men enrolling, to the escalating costs of O’Care, to substantial increases in 2015 premiums, to more expensive policies with a smaller network of providers. Perhaps the champagne needs to be put aside for another day.

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Debbie Young

Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, and practicing yoga.