Nearly three years after the passage of Obamacare, few benefits of the massive and much debated legislation are evident in the everyday lives of most Americans. While President Obama once again missed the Feb. 4 deadline for producing a budget Monday, the Congressional Budget Office will release its annual budget and economic outlook Tuesday, taking into account the result of the Fiscal Cliff and predicting what could be the long term effects of ObamaCare.
A report from Nation Journal Saturday suggests that the extensive growth expected in the Health Care sector as a result of an aging population, ObamaCare, and the annual increases in spending for each person’s care, could result in costs that will haunt the nation’s economy for years to come.
In the short term, the Affordable Care Act will create even more health care jobs. But over the long term, it is likely to push down salaries, not in- flate them.
Some 40 million uninsured Americans stand to benefit from the law’s new subsidies in the next 10 years. And evidence suggests that once they get insurance, they’ll seek more care. At the same time, the programs to reduce utilization will exert significant downward pressure on health spending. Hospitals have begun facing penalties if too many patients who leave the hospital return within 30 days. Soon, doctors will begin earning bonus payments based on how their care measures up to quality standards.
Dr. Scott Gottlieb of the American Enterprise Institute appeared on ‘Wilkow!‘ Monday to discuss the long term costs of ObamaCare and debate who at this point is set to really benefit from the health care overhaul moving forward:
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