Among the many promises peddled by Barack Obama the last time he was a candidate was his pledge to cut health care costs by $2500 per family. Many times during the intense debate over his signature legislative initiative this pledge of cost containment was renewed.
For those who have been around awhile, it will come as no shock that this promise remains unfulfilled. What may surprise even the most cynical is the magnitude of the increase under his regime.
Investors Business Daily reports that health care insurance costs have skyrocketed under Obama. The average national cost for working families has gone up by some $3000 annually over the course of Obama's first term.
Much of that rise is directly related to the new mandates imposed on insurance companies, as well as higher administrative costs associated with managing the thousands of new regulations and changes facing the industry.
But there is another fundamental economic law at work here: The more government subsidies an industry receives, the higher the costs of the product. Health care costs are rising because they can. Folks running these hospitals and insurance companies know that they have mainlined into the U.S. Treasury; the funding available is virtually endless ... until the Chinese stop buying our debt.
It is the same phenomenon at work in higher education.
The ObamaCare scheme is a blatant fiasco from beginning to end, and enough evidence is already present for the American people to make a sound judgment in November about the necessity of scrapping this horrendous strategy for remaking American society.