A new analysis of ObamaCare (HR 3590) from the Cato Institute:
The length and complexity of the health care reform legislation, combined with a debate that often generated more heat than light, has led to massive confusion about the law’s likely impact. A new white paper by Cato senior fellow Michael D. Tanner analyzes what is and is not in it, and what it likely will and will not do. In particular, we now know that:
- The legislation will cost far more than advertised, more than $2.7 trillion over 10 years of full implementation, and will add $352 billion to the national debt over that period.
- Most American workers and businesses will see little or no change in their skyrocketing insurance costs, while millions of others, including younger and healthier workers and those who buy insurance on their own through the non-group market will actually see their premiums go up faster as a result of this legislation.
- The new law will increase taxes by more than $669 billion between now and 2019, and the burdens it places on business will significantly reduce economic growth and employment.
- While the law contains few direct provisions for rationing care, it nonetheless sets the stage for government rationing and interference with how doctors practice medicine.
- Millions of Americans who are happy with their current health insurance will not be able to keep it.
The more we learn about what is in this new law, the more it looks like bad news for American taxpayers, businesses, health-care providers, and patients.
I thought “white paper” meant a short analysis, like one page. Tanner’s is 30 pages of text, with bout 20 pages of references! Printed versions are available at the Cato store. Or if you like audio, here’s a podcast summarizing the report on ObamaCare:[audio: http://ne.edgecastcdn.net/000873/dailypodcast/michaeldtanner_obamacarefailsonitsownterms_20100713.mp3%5D