It has been one year since Obamacare was signed into law.
This is the same law about which then-House Speaker Nancy Pelosi said, “We have to pass the bill so that you can find out what is in it.” It is the same law that Pelosi and her Democratic colleagues jammed through Congress. The same unpopular law that led to Democrats losing control of the House.
After a year of learning what is in the law — and seeing its effect on families, small businesses and our economy — it is now clear that Obamacare is a failed experiment. Sadly, this failure was predictable and very expensive.
When Sen. Barack Obama was running for president, he repeatedly promised that he was going to reduce “every family’s premiums by as much as $2,500.” We were supposed to see these savings by the end of 2012.
Despite these promises, the amount individuals and families pay for health care and insurance continues to rise. Average premiums for individual plans, according to the nonpartisan Congressional Budget Office, are predicted to increase by $2,100 per family over the next five years under the law.
Instead of receiving the $2,500 reduction promised, families will be paying more and more for their health insurance, thanks in no small part to the new government mandates.