November 26, 2013 by Tony Novak
The largest impact of Obamacare has not made news headlines yet. The Wall Street Journal sums it up today: “According to health-care actuaries at the Centers for Medicare and Medicaid Services, health-care spending will begin spiraling upward again starting next year, as the Affordable Care Act takes full effect. It will reach $5 trillion in 2022”, That means that within the next decade we will be spending over $14,600 per person compared to about $9,000 per person today. That huge increase in spending means that more than one dollar out of every five in our entire economy will be spent on health care. It means that each year a smaller percentage of our total budget will be available for food, housing, education and consumer goods. I think that almost no one has fully contemplated what this shift in spending will do to our economy and the impact it will have on our everyday lives. This disproportionate level of spending is unsustainable and will have dire consequences on the future of our nation and the financial prosperity of our children.