Surprise, Surprise: Obamacare Won’t Save Money

The LA Times Top of the Ticket blog reports:

Analysts in the Obama administration’s Health and Human Services Department reported Friday that the nation’s $2.5-trillion annual healthcare tab will not shrink at all under the Democrats’ legislative blueprint as being pushed by happy Harry Reid of Nevada, the Democratic leader in the Senate.

Instead, they said, the nation’s medical costs will actually grow faster under the new bill than they would if that chatty crowd of Washington spenders did absolutely nothing nada zippo about it. And even if they did pass the existing version for all that money, 24 million Americans would still remain uncovered.” …

So there goes the cost-savings argument. And the cover-everyone plank.

Surprising?  Not really.  Government typically isn’t too great at doing things on the cheap.  Moreover, as Cato reported a while ago, the plan could cause premiums for young people to double.  Such a deal, huh?

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