Tuesday, October 11, 2016

Obamacare Apologist: Obamacare May Need Recalibration

Things are so bad in the collapsing world of Obamacare that the apologists for the socialised medical program can no longer pretend it is working smoothly

Jared Bernstein, former Chief Economist & Economic Adviser to Vice President Joe Biden, tweeted out this morning:.

The link in the tweet leads to an op-ed he wrote in the Bezos rag where he claims that Obamacare is a success because "The ACA has had the truly remarkable — almost unprecedented — impact of lowering the share of Americans without health coverage."

This is the idiotic Obamacare defense used by Paul Krugman.

As I have pointed out, signing people up to live in a 5 million dollar mansion does not guarantee that you are going to provide everyone with a 5 million dollar mansion. It is about the dumbest claim for success that you can make that you have simply signed people up for delivery of a product or service.

Bernstein goes on to state:
The efficiencies in health-care delivery that the ACA has helped to usher along are one reason both spending and prices in the sector are growing more slowly.
Again, more babbling. This statement contradicts the fundamental proposition that free markets not government managed trade deliver efficiencies.

And finally Bernstein writes:
There’s no evidence for the claim that the ACA a “job killer.”
When you raise the costs to an employer of employing someone, whether it be via ACA required expenditures or minimum wage laws. it is going to force the layoffs of those at the margin. This is fundamental supply and demand economics.

It is truly remarkable that a trained economist can make an argument that ignores the fundamentals of economics in so many ways. Though, it is instructive that such an Obama administration water carrier can no longer pretend that Obamacare is running smoothly and has been backed into the corner calling for "recalibration."

Obamacare doesn't need to be recalibrated, The regulations need to be tossed into the deep parts of the open sea.


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