At the request of Nancy Pelosi, the Congressional Budget Office has just released a study intended to better understand the potential economic impacts that would result from the cancellation of taxpayer funded Obamacare subsidies (a.k.a. “cost-sharing reductions” or “CSRs”). The report is entitled “The Effects of Terminating Payments for Cost-Sharing Reductions,” and, among other things finds that cutting CSRs would cause a 20% spike in Obamacare premiums in 2018 and result in a $194 billion increase in the deficit from 2017 through 2026. Here are the highlights:
This post was published at Zero Hedge on Aug 15, 2017.
This post was published at The Still Report
Why do car insurance companies charge more for teenage boy drivers? Because they pose a higher risk of filing an insurance claim from accidents, mud bogging, speeding tickets, etc. Insurance companies must manage a pool of risk against potential expenses. Riskier participants pay a higher premium. This is not rocket science.
Yet health insurance companies are now prevented by the Obamacare law from charging a higher premium to ‘riskier’ clients. Thus the cost of insurance premiums and copays had to be raised on healthy people to absorb this perversion.
Peter Schiff stated it perfectly in a recent tweet:
Today, health insurance costs about the same for a family of four as a mortgage payment for the typical single family home. If, God forbid, you actually need care, the yearly deductible is usually equal to yet another annual mortgage payment. And if you fail to purchase this overpriced garbage, you get fined by the government. Can you say mafia racket?
This post was published at The Daily Sheeple on AUGUST 11, 2017.
As the Obamacare repeal and replace effort raged on in Congress over the past six months, several Democrats and even some of the original Obamacare architects stepped forward to argue that the crippling premium increases from 2014 through 2017 were just a 1x market adjustment and that everything would miraculously ‘stabilize’ in 2018.
Well, according to data from the Kaiser Family Foundation, that prediction isn’t playing out exactly as expected. Taking a look at 21 of the bigger healthcare markets in the United States, Kaiser found that premiums submitted so far for 2018 are increasing at an average rate of 17% YoY and ranging up to 49% in Wilmington.
Now, we understand that the term “stabilizing” is somewhat subjective but we’re not sure that rates spiking at 10.5x prevailing inflation rates, on average, would reasonably fit anyone’s definition.
This post was published at Zero Hedge on Aug 10, 2017.
Having tired of picking on Democrats for ruining his Obamacare repeal plans, Trump is increasingly focusing on his own party in general, and Senate majority leader, Mitch McConnell in particular.
One day after a “work-vacationing” Trump slammed the Senator in a Wednesday tweet, in which he said “Senator Mitch McConnell said I had “excessive expectations,” but I don’t think so. After 7 years of hearing Repeal & Replace, why not done?” Trump ramped up his criticism of McConnell on Thursday morning when in an early tweet, Trump again questioned why McConnell has not been able to pass a bill to repeal and replace ObamaCare.
“Can you believe that Mitch McConnell, who has screamed Repeal & Replace for 7 years, couldn’t get it done,” Trump tweeted. “Must Repeal & Replace ObamaCare!”
Can you believe that Mitch McConnell, who has screamed Repeal & Replace for 7 years, couldn't get it done. Must Repeal & Replace ObamaCare!
— Donald J. Trump (@realDonaldTrump) August 10, 2017
This post was published at Zero Hedge on Aug 10, 2017.
For those who still aren’t convinced that Obamacare is trapped in an inescapable death spiral that will inevitably end in nothing short of an epic collapse of the federal and state health insurance exchanges, perhaps you should consider the following facts from the National Review and Mark Farrah and Associates.
– Four heavily promoted open enrollments have taken place run by the Obama administration and the state exchanges.
– Federal law has required people to purchase insurance or pay a fine – and the individual mandate was administered through 2016 by the Obama administration. In fact, in 2015, 7.5 million people paid the fine, while 6.5 million paid the fine in 2016, according to the IRS.
This post was published at Zero Hedge on Aug 9, 2017.
The retail sector has been stagnant and most people are blaming AMAZON. A closer look is really required rather than the typical superficial analysis. Today, online sales represent only 8.5% of total retail sales. Amazon comes in at $80 billion in sales, but this merely amounts to just 1.5% of total U. S. retail sales, since 2016 total retail sales were around $5.5 trillion. What John McCain did to kill the repeal of Obamacare is devastating to the economy. The Democrats refuse to review what they have done and cannot see past their ego that Obamacare is destroy the economy.
This post was published at Armstrong Economics on Aug 8, 2017.
Following the US Senate’s failure to pass a bill repealing Obamacare, former Arkansas governor Mike Huckabee decided that the Senate would do a better job if the 17th Amendment were repealed. Huckabee took to twitter and said:
Time to repeal 17th Amendment. Founders had it right-Senators chosen by state legislatures. Will work for their states and respect 10th am[endment.]
Huckabee, of course, is referring the Constitutional amendment that altered the method by which US Senators are elected. Prior to the Amendment’s passage in 1913, Senators were – at least in theory and on paper – selected by the state legislature in each state. Since the amendment was adopted, Senators are selected via popular vote in each state.
The response to Huckabee’s very brief missive was fairly predictable. Reactions ranged from pearl-clutching horror at Gizmodo to Allen West’s declaration that repealing the Amendment would force Senators to take marching orders from state legislators.
History suggests, however, that a repeal of the 17th Amendment would not lead to nearly as big a change as these commentators seem to think.
This post was published at Ludwig von Mises Institute on Aug 3, 2017.
The following video was published by X22Report on Aug 2, 2017
The corporate media is now blaming Trump for the rise of Obamacare premiums, this is completely false because the premiums have been rising the last couple of years. Ben Rhodes is now a person of interest in regard to unmasking. Trump signs the Russian sanctions pushing Russia and Europe closer together. US launches an ICBM. China officially opens their military base in Djibouti . Trump and Tillerson are now playing good cop bad cop. Tillerson is looking to have diplomatic relations with NK, Iran and Russia. Syrian forces are pushing the paid mercenaries out of Syria, more terrorists have switched to the government side.
This post was published at The Still Report
In a troubling sign for the president, who over the past several days has threatened to end “bailouts” for insurers and, according to Rand Paul, is contemplating executive action to pursue his quest of repealing Obamacare, some Senate Republicans are now openly defying Trump’s directives.
As The Hill reports, Sen. Lamar Alexander (R-Tenn.), head of the Senate Health, Education, Labor and Pensions Committee, announced Tuesday that he will hold hearings and would work with his Democratic colleagues to ‘stabilize and strengthen’ the individual insurance market under the Affordable Care Act, which the president has urged the Senate to keep trying to repeal. Alexander also urged the White House to keep up payments to insurers that help low-income consumers afford plans, which Trump has threatened to cut off.
This post was published at Zero Hedge on Aug 1, 2017.
After the Senate failed to repeal Obamacare on Thursday, when a critical “Nay” vote by John McCain crushed Trump’s biggest campaign promise shortly after midnight, on Saturday the President threatened to end key payments to Obamacare insurance companies if a repeal and replace bill is not passed. “After seven years of ‘talking’ Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!” Trump tweeted, followed by: “If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!.”
Now, in previewing what may be Trump’s next potential step to keep the fight against Obamacare alive, Reuters reports that Senator Rand Paul told reporters that Trump is “considering taking some form of executive action” to address problems with the healthcare system.
Paul said he spoke to President Donald Trump by phone about healthcare reform on Monday and told the president he thought Trump had the authority to create associations that would allow organizations to offer group health insurance plans.
Allowing groups like AARP, which represents retirees, to form health associations could enable individuals and small businesses to form larger groups to negotiate with health insurance companies for lower rates.
This post was published at Zero Hedge on Jul 31, 2017.
Vermont Senator and socialist, Bernie Sanders said Sunday that he will absolutely introduce a single-payer health care bill. If you think health care is bad now because of government interference, just wait until the government literally controls your health and body100%.
‘Absolutely, of course, we are,’ Sanders told CNN’s Jake Tapper Sunday. ‘We’re just tweaking the final points of the bill and we’re figuring out how we can mount a national campaign to bring people together.’ Sanders ran on a socialist platform during the 2016 election and was endorsed by ‘democratic socialist’ Nicolas Maduro of Venezuela.
‘We are the only major country on earth, the only one, not to guarantee health care to all people,’ he said. ‘The result is 28 million people who are uninsured, millions of people who are paying deductibles and co-payments that are far too high.’ Even though healthcare is not right, Sanders insists on taking more of your hard earned money for single-payer.
This post was published at The Daily Sheeple on JULY 31, 2017.
President Trump is active this morning. His first tweet of the week was a shot across the bow of Congress (who exempted themselves from Obamacare because it was such a disaster) and suggesting – shockingly to many in DC – that insurance companies may face some pain…
If ObamaCare is hurting people, & it is, why shouldn't it hurt the insurance companies & why should Congress not be paying what public pays?
— Donald J. Trump (@realDonaldTrump) July 31, 2017
This post was published at Zero Hedge on Jul 31, 2017.
Now that Obamacare repeal is dead for the foreseeable future thanks to John McCain, the full court press to expand on the existing system has begun with Bernie Sanders saying Sunday that he will ‘absolutely’ introduce legislation on single-payer healthcare.
‘Of course we are, we’re tweaking the final points of the bill and we’re figuring out how we can mount a national campaign to bring people together,’ Sanders said on CNN’s State of the Union.
Sanders. who if it weren’t for the DNC’s collusion with Hillary Clinton would likely have been the Democratic party’s presidential candidate and perhaps current president of the US – a truth which the public must urgently forget and thus the daily barrage of “Russian collusion” headlines – promised to introduce a ‘Medicare for All’ proposal once the debate over repealing ObamaCare ended. He is one of several progressive lawmakers who back the healthcare model that has divided Democratic lawmakers.
This post was published at Zero Hedge on Jul 30, 2017.
This post was published at The Alex Jones Channel
By destroying the last chance that the Republicans in the Senate had to repeal Obamacare, John McCain has ensured that he will go down in history as a backstabbing traitor that cared nothing for true conservative values. For decades, RINOs like McCain have promised to uphold conservative values while campaigning, but once they have gotten into office they have betrayed us over and over again. How much more are we going to take before we say enough is enough? I hope that you will join me in my effort to remove every RINO from Congress. What John McCain has just done should make all of us absolutely sick. Thanks to him, Obamacare is going to remain the law of the land for the foreseeable future even though the Republicans have control of the White House, the Senate and the House of Representatives. If I go to Washington, I am going to declare war on RINOs like McCain, but the only way that will be possible is if thousands of good conservatives help fund this campaign. So far my campaign has created an enormous amount of buzz all over the state, but the only way that we are going to be able to capitalize on all of that buzz is if you all stand with me.
If what John McCain did on Friday does not make you angry, I am not sure what will. Together with Lisa Murkowski of Alaska and Susan Collins of Maine, McCain killed the very last chance of repealing Obamacare in the Senate. The following comes from the Washington Post…
A convergence of contentious issues, as well as embarrassing infighting and shake-ups at the White House, have a number of Republicans suddenly in open resistance to President Trump on a number of fronts.
The most dramatic moment came in the early-morning hours Friday, when Sen. John McCain, an ailing war hero and onetime Republican presidential standard-bearer, joined two other GOP dissidents, Sens. Lisa Murkowski of Alaska and Susan Collins of Maine, to cast the deciding vote to kill a scaled-back plan to dismantle tenets of the Affordable Care Act – and with it, perhaps, Trump’s promise to repeal Obamacare.
This post was published at The Economic Collapse Blog on July 30th, 2017.
With the Senate having failed to repeal Obamacare, after a critical “Nay” vote by John McCain crushed Trump’s biggest campaign promise shortly after midnight on Thursday, Trump is plans to kill Obamacare slowly, and this time he has vowed to take insurance companies and members of Congress down with it.
The president on Saturday threatened to end key payments to Obamacare insurance companies if a repeal and replace bill is not passed. “After seven years of ‘talking’ Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!” Trump tweeted, followed by: “If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!.”
After seven years of "talking" Repeal & Replace, the people of our great country are still being forced to live with imploding ObamaCare!
— Donald J. Trump (@realDonaldTrump) July 29, 2017
This post was published at Zero Hedge on Jul 29, 2017.
The GOP-led Senate “decided” by one vote (John McCain’s, I remind you) to kill the “skinny” Obamacare repeal bill.
This, after he said he’d vote for it if he got an assurance from Paul Ryan that the bill would go to conference and not simply be passed as-is and sent to Trump. Paul Ryan gave him that assurance, and then he voted “No” anyway.
I remind you that John McCain does not have to live with the results of Obamacare. He never did. Nor did anyone else in the House or Senate, because despite a provision being inserted into the original Bill that forced Congress to live under Obamacare’s rules President Obama directed OPM to illegally subsidize members’ insurance and their staff. He had no legal authority to do that but he did it anyway.
I also remind you that President Trump has not rescinded this unlawful order.
Never mind that McCain is going to be dead within a year or so anyway; that’s reality given his condition. And frankly, given what he and the rest of Congress have done with regard to Health Care over the last three decades I will not be sad when he goes. In fact I may drink a couple of celebratory adult beverages.
You don’t want to face facts, but you damn well need to America.
This post was published at Market-Ticker on 2017-07-29.
Authored by Scott Rasmussen via Ballotpedia.org,
If the individual mandate were to be repealed and Americans were no longer required to purchase the Obamacare-mandated levels of health insurance coverage, the Congressional Budget Office (CBO) believes that 15 million Americans would no longer purchase such coverage.
Some, including Jonathan Gruber, believe that the CBO is overestimating the impact of repealing the mandate. Gruber was one of the architects of the healthcare law. Politically, the impact of these projections is significant since the individual mandate has long been the most unpopular part of Obamacare. Recent polling shows that two-thirds of Americans would like to see it repealed. For many, the idea of the government forcing anybody to buy anything is in conflict with America’s commitment to individual freedom.
This post was published at Zero Hedge on Jul 27, 2017.