Obamacare: An Inheritance America's Children Don't Deserve.
vict0r
Something is happening in Congress that will change your lives forever.
Congress is about to pass legislation that will transfer much of your
generation's wealth to mine.
I'm talking about the pending 2,000-page health-care bill. My fatherly
advice to you is this: Understand what this partisan piece of legislation is
going to do to your future.
You will no longer be able to determine what is an appropriate health
insurance product for your situation. The secretary of health and human
services will call the shots. You must purchase a "qualified plan." If you
do not, the government threatens to fine you up to $250,000 and imprison you
up to five years.
How much will this affect your insurance premiums? They will at least triple
for those of you in your 20s, according to a detailed actuarial study by
WellPoint, an insurance company. Your rates will increase because the
government will require insurers to cover folks with pre-existing
conditions. They'll force you to buy "gold-plated" coverage, even if you
don't want it. And they'll tax you more.
We're paying for insurance reform on your backs.
Is there anything wrong with that, kids? Yes.
We've been making these transfer payments from the young to the old since
the advent of Social Security. We added Medicare in 1965 when we had four
workers for each retiree. Now, it's closer to two. It's going to get worse.
These plans always cost more, much more, than we ever dreamed possible.
The Democrats want to accelerate this intergenerational transfer. We've
reached a tipping point. The new plan is not the answer. Some of you may be
muttering to yourselves that you don't trust the numbers from an insurance
company like WellPoint.
But do you trust government numbers? They underestimated our Social Security
liability. They underestimated Medicare. They underestimated Medicaid. They
don't ever miss by a little, they miss by a lot, like 916 percent on
Medicare alone.
Our current health-care system has been criticized because it consumes 16
percent of our economy. Is that bad?
Let's assume it is.
Everyone agrees it's going to get worse if we do nothing. By mid-century,
federal spending on Medicare and Medicaid will consume 40 percent of our
economy.
Unfortunately, the Democrats' plan will make things worse, consuming an
unbelievable 60 percent of the economy, according to John Cogan, former
Office of Management and Budget deputy director and Hoover Institute
economist.
Even the nonpartisan Congressional Budget Office (CBO), which consistently
underestimates what a program will cost, says Speaker Nancy Pelosi's plan
will actually cost $1.5 trillion from 2010 to 2019, which is nearly double
what she claims it will cost. That number itself is deceptive, because most
of the spending doesn't kick in until 2013 (conveniently after the next
presidential election). All of this on top of our existing national debt of
$13 trillion!
There are practical ways to make health insurance companies more accountable
to consumers.
The Republican's Health Care Reform Bill does that. It prevents insurers
from unjustly canceling a policy. It allows consumers to shop for insurance
products across state lines, which increases competition, a stated goal of
the president. It guarantees coverage for people with pre-existing
conditions. And it addresses medical liability reform. The CBO says it will
lower your premiums and reduce the national debt.
How much does the Republican solution cost taxpayers? Nothing.
How much does the Democrat solution cost taxpayers? Trillions of dollars.
How much will the Republican plan transfer from your generation to mine?
Nothing. The Democrats' plan? Trillions.
You are my beloved children. I love each of you more than you will ever
know. I want the best for you. Call your congressman in support of the
Republican plan. It will work. And it can be revised if need be.
The same can't be said of the monstrosity pending before Congress.
With love, Dad