America's greatest Ponzi scheme: Obamacare

America’s greatest Ponzi scheme: Obamacare

 

Legitimatized by a signature from President Obama on March 23, 2010 the Patient Protection and Affordable Care Act (PPACA), more commonly known Obamacare, is nothing more than a Ponzi scheme. Costs originally estimated at 900 billion dollars have ballooned to several trillion and growing steadily. In order to feed this monstrous creation, taxpayers are forced to pay more each year to sustain this leviathan. Eventually the costs become unsustainable and the program implodes, leading the country into economic oblivion. Signs that the government is struggling to implement Obamacare have already appeared. State insurance exchanges, to help small businesses, will not be initiated until 2015. Medicaid costs are seeing a meteoric rise in states that are expanding their pools of patients. Much of this funding will originate from cash derived from a series of new taxes cleverly being exacted on anyone and everyone who pays into the Federal Treasury. Do you remember Bernard Madoff, who was convicted of one of the largest Ponzi schemes in the history of Wall Street, Obamacare is exponentially worse. Congressional Budget Office (CBO), originally released projections noting Obamacare’s fiscal attributes were sustainable based on the elements of the legislation passed by Congress. Within months of PPACA becoming law, the CBO’s miscalculations became apparent. New estimations of the horrific mistake inflicted on the nation would be in the trillions. Did the CBO lie to make this leviathan more palatable to a nation? We may never know. Over a dozen new taxes have taken effect as of January 1, 2013. Every medical procedure, diagnostic methodology and therapeutic venture will cost more as these fees are dumped on top of already expensive health costs. Sticker shock is moving through the nation as patients find their pharmaceutical bills have doubled a few months into the new-year. One report notes that a popular anti-cholesterol drug, Crestor, jumped from $400 to $900 for a few month supply. Obamacare, as presently formatted, would be considered a criminal construct, if not sanctioned by this rogue government. Over the next 12 months there will be a deluge of legal cases filed against many aspects of PPACA. This Ponzi scheme is in for hard times. In the event it is not stopped by the courts, natural economic forces could erode its very base. Mark Davis MD, platomd@gmail.com, President of Healthnets Review Services, author of the forthcoming book, Obamacare: Dead on Arrival, A Prescription for Disaster. Manager of the group on LinkedIn, Government in Transition, join, comment and debate current issues.