ObamaCare and the Economy: Give Me Liberty or Give Me Debt
Friday, March 23, marks the two-year anniversary of the Affordable Care Act (ACA/ObamaCare) being signed into law. The Obama Administration is launching a full out plan to convince the people that the first two years of ObamaCare has been of great benefit to the American people. Their stated strategy is to "Increase overall public support for the law by making the benefits of the law (and consequences of taking those away) tangible by featuring stories of real people impacted." Their strategy will focus on a specific group or topic each day. In response, Concerned Women for America will also be making a comment about each of these groups or topics. Thursday's topic is "Cost."
Statement on the Cost of ObamaCare
Signed into law two years ago, ObamaCare is a threat to individual families' finances. This so-called health care law places a trillion dollar burden on the backs of hardworking Americans and our downturned economy. These are dollars we do not have.
The original estimate of ObamaCare's cost in 2010 was approximately $900 billion. It has since shot up to the recent $ 1.7 trillion in only two years. Former Speaker of the House Nancy Pelosi's (D-California) call to pass ObamaCare so we can "find out what is in it" is now being seen as a pandorian misstep of enormous proportions.
ObamaCare will lead to $2 trillion in higher taxes for the nation. Within five years of passage — only three years away — we will see our national debt double; within 10 years of its passage, the debt will have tripled. Already we are seeing negative economic ramifications. Unemployment is up, and America's AAA credit rating has been downgraded — something that has never before happened in the history of America.
Penny Nance, Chief Executive Officer and President of Concerned Women for America, said, "Our nation's financial crisis has severely weakened our economic strength. Naturally, the families in America are the first to feel the consequences of ObamaCare. Those affected by unemployment have a smaller chance of being hired as a result of the penalties placed on small business owners, penalties which are only one of ObamaCare's 'gifts.'"
To learn how American tax dollars are funding ObamaCare, click here.
1015 Fifteenth St. N.W., Suite 1100
Washington, D.C. 20005
Phone: (202) 488-7000
Fax: (202) 488-0806