Will Pelosi Cost You Your Full-Time Job?
By Money Morning Staff Reports
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Nancy Pelosi still insists that Obamacare will improve the lives of average Americans, despite over 20 reports indicating otherwise.
"Because of the law, in the coming months Americans will have expanded choices and more affordable care." Pelosi said at a recent Capitol Hill briefing. "We will be enhancing patients' rights, putting money back in the pockets of consumers, reducing costs and strengthening the economic, financial, and health security of working families."
She goes further to say that Obamacare will even lower the nation's debt.
"The Affordable Care Act is bringing the cost of health care in our country down in both the public and private sector," said Pelosi. "And that is what is largely responsible for the deficit coming down."
But what she doesn't realize is that her numbers are flawed.
"Despite promises that the law will lower costs, [Obamacare] will in fact cause the premiums of many Americans to spike substantially," a report released by the U.S. House of Representatives Committee on Energy and Commerce concluded. "The broken promises are numerous, and the data reveals that many Americans, from recent college graduates to older adults, will not be able to afford the law's higher costs."
The report is based on responses from 17 insurance companies to a letter from Congress asking them to estimate the effects Obamacare would have on premiums and found that individuals in about 90% of all states would likely face "significant premium increases."
Furthermore, the committee found that some individuals may see premium increases up to 413%.
Editor's Note: How much extra will you have to pay? To see how much Obamacare will take from your paycheck next year, go here.
On top of higher premiums, Obamacare will create no fewer than twenty new taxes or tax hikes on the American people.
Most of the new taxes go into effect January 1, 2014, but they are already infuriating millions of Americans.
The Obama administration has even given the IRS an extra $500 million to enforce the rules and regulations of Obamacare.
The new taxes don't bode well for middle-class Americans. Incomes for the rich have soared this decade but middle class workers have seen their wages stagnate and even drop since the 2008 Great Recession.
Many fear Obamacare with its high insurance costs and new taxes, could provide the middle class a fatal blow.
Of course, the Obamacare plan was primarily designed to decrease the number of uninsured Americans and reduce healthcare costs.
Experts are saying it will have the exact opposite effect. In fact, it's estimated that Obamacare will cost the average taxpayer nearly $6,000 in extra taxes as early as next year.
A McKinsey report now estimates Obamacare will cost taxpayers at least an additional $400 billion more than originally proposed.
And another study done by the Congressional Budget Office estimates that Obamacare won't actually expand coverage and that the number of uninsured under Obamacare won't ever fall below 30 million.
Perhaps worse than anything, is that millions of Americans will now lose their full-time jobs.
That's a big reason why close to two-thirds of the country do not approve of Obamacare, according to recent polls.
Many are still furious over how the Democratically-controlled Congress passed this bill, which many scholars deem unconstitutional.
"Bipartisanship is a two-way street," Pelosi said before Congress voted on the law. "A bill can be bipartisan without bipartisan votes...We have to pass the bill so you can find out what is in it."
If Congress had read the bill before passing it they should have noticed one section of the law that says you could get slapped with a $2,000 fine for not having health insurance - even if you do actually have it.
Or another section that says that under Obamacare ordinary Americans will get stuck paying for substance abuse coverage even if they never touched a drink or drug in their life.
Can the U.S. government really put you in jail for not buying health insurance? Go here to see the shocking story.
With the implementation of Obamacare quickly approaching, millions of Americans are asking what they can do to prepare for all the new costs and rules.
One expert, Betsy McCaughey, former Lieutenant Governor of New York and constitutional scholar with a Ph.D. from Columbia University, recently wrote a best-selling book showing Americans how they can survive Obamacare.
McCaughey is one of the only people in the country -- including members of Congress - who has actually read the entire 2,572 page law.
Her book, titled Beating Obamacare: Your Handbook for Surviving the New Health Care Law breaks down the complicated bill into 168 pages of actionable advice.
The book, written in an easy going, easy to read style, examines the implications of Obamacare not seen in the mainstream press.
"Section 1501 of Obamacare requires nearly everyone to enroll in a one-size fits all, government-designed health insurance plan. For the first time in history, this law empowers the federal government to control how doctors treat privately insured patients," McCaughey writes. "So even if you have your own private health plan that you paid for yourself, the government will have say over your care."
She says that higher costs are only one negative of Obamacare. Doctors, nurses and other hospital employees will suffer from the government's interference in healthcare. This will trickle down to poorer patient care.
What's more, one third of all U.S. employers could stop offering health insurance to their workers, says McCaughey.
In fact, corporations including GE, IBM, and Time Warner have already said they will stop providing insurance for hundreds of thousands of employees.
McCaughey also exposes several sections of the bill that empower Secretary of Health and Human Services Kathleen Sebelius to dictate what doctors can and cannot do.
"Section 4104(a), empowers Sebelius to reduce preventive services for seniors based on the recommendations of the U.S. Preventive Services Task Force," McCaughey notes. "This is the panel that said women ages forty to forty-nine and older than seventy-four should no longer get routine mammograms."
And according to McCaughey's research, senior citizens will get hit the hardest from Obamacare. "If you're a senior or a baby boomer, expect less care than in the past," she says. "Hip and knee replacements and cataract surgery will be especially hard to get from Medicare in the months ahead."
She warns seniors to get some of those types of procedures done now before Obamacare goes into full effect, as Obamacare awards bonus points to hospitals that spend the least on seniors.
Lastly, many will find it difficult to keep their medical records private, according to McCaughey.
"The law will compel Americans to share with millions of strangers who are not physicians confidential private and personal medical history information they do not wish to share"
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