AND IT’S ONLY GOING TO GET WORSE …
|| By FITSNEWS || Consumer prices rose by their highest level in more than two years last month – putting additional pressure on tapped out consumers. The core consumer price index (CPI) climbed by 0.3 percent in April – its biggest jump since January 2013. Driving the hike? Obamacare.
According to new data (.pdf here) released by the U.S. Bureau of Labor Statistics (BLS), the nation’s medical care index rose by 0.7 percent last month – it’s biggest increase since January of 2007.
Surprising? Of course not … we’ve been screaming this for months.
And guess what: The worst is yet to come …
“After finally digesting the true cost of Obamacare, any recent insurance prime hikes will seem like a walk in the park compared to what is coming,” the website Zero Hedge warned.
Indeed.
Insurers in four states – Maryland, Oregon, New Mexico and Tennessee – recently announced rate hikes ranging from 25 percent to 51.6 percent. Each provider cited “high medical claims from plans they sold over insurance exchanges,” according to The Wall Street Journal.
Exactly … as Obamacare fully implements, exactly what we said would happen is happening: Expensive is getting “expensiv-er.”
Years ago, we warned that U.S. president Barack Obama‘s socialized medicine monstrosity would be disastrous for the American economy – and we were right (see HERE, HERE and HERE). As a candidate in 2008, Obama projected annual savings of $2,500 per family by the end of his first term in office – only to close out his first four years with a $2,400 increase in insurance costs.
In other words, his campaign promise was about as accurate the oft-repeated “if you like your health care plan, you can keep it” promise.
And again, the real damage is yet to be done … unless of course the U.S. Supreme Court steps in and (at long last) holds this monstrosity to account.
25 comments
The Affordable Care Act is providing insurance coverage that is too expensive. How ironic is that?
And we have only seen the beginning, wait until doctors and hospitals start dropping coverage, wait times exacerbate the illness, high deductibles break budgets, the government starts denying coverage, etc…
The fun is only beginning….
And The Supremes have ruled: BummerCare is a tax which the poor can not dodge.
Abuse of statistics. “Biggest increase since January 2007” is another way of saying “recent increases have always been smaller than they were before Obamacare”
Three points! … From the field!
the websiteZero Hedge warned.
All you need to know to not waste your time reading this.
Things Zero’s Hedge left out – VA premiums year over year – down 56% (that’s a reduction by nearly 60%), MS – our great savior state that makes us look better – reduction in premiums by 20%, CO – down 10%, OR down 5%. And many states with increases – like CA, NJ, MA, GA, AR, and lil’ ole DE, had increases between 0 and 3%. Now I don’t know about everyone else, but last time I checked, CA, NJ, MA and GA had pretty big populations. Even stalwarts of Hatin’ Obamacare states like TX and FL had increases of only around 5%. And these are exchange prices. But Zero Hedge is always crying the Sky is Falling, the Sky is Falling. And how is it socialized medicine when you get the insurance through a private insurance company?
Vets needing it = 50, 60% counting pill poppers. Total # of Vets = less than 3 Million. VA premiums down 56%? = a spit in the ocean.
And the reason Texans and Floridians hate BummerCare? It is the income tax they should not have to be paying.
“The sky is falling?” That depends on what your definition of is, is.
??? $73.. per-hr @mi2//
…..
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Good post! Thanks!
https://www.youtube.com/watch?v=qwg3y_FnLmg
HAPPY MEMORIAL DAY
I sure do miss the days when cost of medical care was decreasing. Oh wait ………
Uh, that would be the Reagan Era.
Give us real single payer! Cut all these handouts to the insurance companies and give us real access! Healthcare is a right!
Single payer … Like food stamps? The Post Office wins, again!
Yes, you do have the right to self-administer your own healthcare. You do not have a right to my healthcare insurance.
Yep, the Post Office, pick any state DMV, any state DOT, etc. et al
Obamacare will end up in the same place all state run markets end up, high costs and shitty service- all to cover an extra 10 million or so people.
Every gets shit upon for this small minority- it’s the Socialist way.
“As long as we are all equal and everything fair, life is good.” (even when life is not good)
“… The defining moment for the world’s economies was the fall of the Berlin Wall in 1989, revealing a state of economic ruin behind the iron curtain far beyond the expectations of most knowledgeable Western economists. Central planning was exposed as an unredeemable failure; coupled with and supported by the growing disillusionment over the interventionist economic policies of the Western democracies, market capitalism began quietly to displace those policies in much of the world. …” Page 12 of “The Age Of Turbulence” by Alan Greenspan
“” Page 12 of “The Age Of Turbulence” by Alan Greenspan”
How ironic.
One has to wonder when he started believing in the gold standard again, before or after this book?
Maybe he never stopped believing, but just decided to sell out anyway.
Alan Greenspan was and is without a doubt the best fed chairman we have had so far.
Chairman Greenspan absolutely watched the gold and precious metals markets and used their fluctuations as indicators, trying to keep Gruberment inflation in check.
Unfortunately He has been demonized by the left-leaning and quasi-left “progressives”. (He was not responsible for any of the financial messes made by Bush and Company. He advised against the Bush administrations’ moves to “bailout” the banks.)
“Alan Greenspan was and is without a doubt the best fed chairman we have had so far.”
I disagree:
Volcker.
In the balance, we should have a Federal Reserve anyway.
*shouldn’t
Volcker, a close second. He taught a few things to Greenspan fur sure.
Right on!
Of course you want this for your kids, too. And your grandkids.
The death panels are gonna get ya’ boy.
“SENATE REPUBLICANS GIVE OBAMA NEW POWERS – DETAILS REMAIN ‘CLASSIFIED’ “ – Drudge headline today.
The “fair” trade deal(s) stink of push-me, pull-you payoffs and skim.
Some one has promised the republicrats the same deal that Bill/Hillary have been getting = lots of payola for earmarks, ear~full’s and earwax when it comes to listening to constituents.
Supremes to decide on ObamaCare this week or next, up or down. Hopefully down and out.
If BummerCare is killed, the stock market will boom! Small cap stock funds would flourish.