One Man’s Apocalypse is Another Man’s Freedom March 13, 2017Posted by geoff in News.
The usual suspects are chattering away about the evils of Trumpcare. This NYT article by Paul “I’ve never made an accurate prediction in my life” Krugman is typical:
Trumpcare vs. Obamacare: Apocalypse Foretold
The Congressional Budget Office report on Trumpcare is out, and it’s devastating: 14 million people losing insurance in the first year, 24 million over time, with premiums soaring for older, lower-income Americans — in many cases, the very people who went strongly for President Trump.
I’m going to admit straightaway that I haven’t looked at Ryan’s bill, so I have no idea what Trumpcare is all about. But, unlike Paul Krugman, I can read a CBO report and process what it says. Here’s what it says about those 14 million people:
Most of that increase would stem from repealing the penalties associated with the individual mandate.
Aha. So the bulk of those people who would not have insurance are those who didn’t want to pay for insurance in the first place. The young and healthy, who were dragooned into buying insurance by the individual mandate.
Yes, Paul, those people would now be free to choose how to spend their money. I guess that seems like the Apocalypse to you.
*With regards to the “soaring premiums,” I can only say that the CBO did a crap job in assessing the impact of the new legislation on insurance premiums. I say this because they only accounted for the effect of the young and healthy leaving the market, ignoring the effects of coverage changes and tax reduction.