“My health insurance costs are killing me!” they screamed. That is true, both figuratively and literally. For those of us who live on Main Street, instead of being able to spend our money on household goods, clothes, Christmas gifts or (shudder) a winter vacation- we’ve had to dish out every last penny on health insurance premiums.
And for those who can’t afford those premiums, they go without health insurance – a decision that could cost them their lives.
True story: A friend of mine, a single mom, used to spend $350 per month on health insurance for herself and her daughter, with a $500 deductible – pre-Obamacare.
Because she makes just over the threshold to qualify for subsidies, her cost jumped to $1,200 a month with a $5,000 deductible, for her, and $175 per month for her 17-year old daughter. Can you say: 450% increase?
Because she has no insurance, she is not going to go for a regular check-up and pay thousands of dollars out-of-pocket costs for blood tests. Illnesses, cancer and life-threatening diseases will not be detected.
Another case in point. A friend of mine got in a car accident and had to spend 1 day in the hospital with a dislocated shoulder. ONE DAY. The bill came to $32,000. No broken bones, no coma, just a few bruises and a shoulder that needed to be popped back in.
Instead of seeing increased health care coverage, we are seeing people that once could afford their health insurance, not being able to, and those at the very bottom, who formerly could not afford it, now get it for free. Isn’t that, um…..socialism?
Because the increased spending on Obamacare is so high, people are spending much MORE on health insurance. So much, that it actually consumes 40% of the whole US GDP.
The Fed is confused as to why Americans haven’t been spending their gas cost “savings” on things at retail stores.
It is because they are financially decimated
with exorbitant health insurance premium costs!
And the absolute shocker: of the $89.1 billion increase in Q4 GDP in chained-dollars, healthcare was $35.3 billion of that, or 40% of the total. Yes, healthcare spending accounted for 40% of GDP growth in Q4!
As a person who lives on Main Street, I know that we are not in a recovery, there is little to no growth in GDP, and there is not enough money in anyone’s budget to afford buying anything beyond mandatory, exorbitant health care costs and a trip to the grocery store.
So, yes, Obamacare is killing us, in more ways than one.