“Wonderful for America”: Healthcare spending to increase by 70%

On Sunday, Sen. Majority Leader Harry Reid declared the “success” of the Affordable Care Act when he said, “Obamacare has been wonderful for America.” However, recent news stories prove otherwise. 

Investing Daily reports, “According to estimates from the US Centers for Medicare and Medicaid Services, total health care spending in the United States will grow from $2.8 trillion in 2012 to $4.8 trillion by 2021, an increase of 70 percent. Roughly a quarter of this spending is consumed by administration, not patient-centric services.” As well, it has and will cost billions of dollars and millions of work hours. “According to the American Action Forum, a Washington-based advocacy group, Obamacare has so far cost $30.8 billion and 111.4 million hours for individuals, health care providers and businesses to simply complete the necessary paperwork. The forum estimates that 55,742 employees working 2,000 hours per year will be needed to process all of the law’s provisions.” 


SEE ALSO: Obamacare: Appeals court rejects individual, employer mandate challengesHouse to vote to remove IRS authority from ObamaCare Ted Cruz introduces bill to defund Obamacare NY awards $27M in grants for health care outreach Young Adults Key To White House Obamacare Strategy 

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