Obamacare Ignites Revolution Inside The Democratic PartyBy Money Morning Staff Reports
In a shocking apology on NBC News, President Obama talked about his landmark healthcare bill, and its poor implementation.
"Obviously, we didn't do a good enough job in terms of how we crafted the law," President Obama said. "I am sorry that they, you know, are finding themselves in this situation, based on assurances they got from me."
President Obama backpedaling on Obamacare's effectiveness is the equivalent of Jefferson rethinking the Louisiana Purchase, or Reagan telling Gorbachev to keep the Berlin Wall up.
And Obama is far from the only Democrat noticing the chinks in Obamacare...
- 39th President Jimmy Carter: "His major accomplishment was Obamacare, and the implementation of it now is questionable at best."
- Barney Frank, former Massachusetts Congressman: "I think we paid a terrible price for health care."
- Former Democratic Presidential candidate and current Chairman of the Democratic National Committee, Howard Dean: "The Affordable Care Act's Rate-Setting Won't Work."
Obama is losing control of the Democratic Party. And with a measly approval rating of 39%, he's losing control of the entire country.
With all the "Defund Obamacare" talk from Ted Cruz, John Boehner, and Rand Paul, it's easy to think that Republicans are the only ones against Obamacare.
But that just isn't the case.
That's because on top of higher healthcare costs, Americans will be hit with a barrage of new taxes... $1 trillion worth.
And these taxes won't just affect anyone who makes over $250,000 a year.
The bulk of these taxes will be passed on directly to the middle class.
That's because while a majority of these "stealth taxes" were designed to tax businesses, they're actually transferred directly to ordinary citizens.
Of course, the Obamacare plan was primarily designed to decrease the number of uninsured Americans and reduce healthcare costs.
But experts are saying it will have the exact opposite effect. In fact, it's estimated that Obamacare will cost the average taxpayer nearly $6,000 in extra taxes as early as next year!
A McKinsey report now estimates Obamacare will cost taxpayers at least an additional $400 billion more than originally proposed.
And worst of all, millions of Americans will now lose their full-time jobs.
So it's no surprise that in a recent poll from The Washington Post, 42% of Democrats are against Obamacare; the highest percentage ever.
More and more Democrats are coming out of the woodwork to voice their opposition to the bill. And with midterm elections coming in 2014 Democrats are running-not walking-away from Obamacare.
What started as a promise to insure 40 million Americans has quickly morphed into another game of Washington politics.
And average Americans are getting the short end-again.
With the implementation of Obamacare quickly approaching, Americans are asking what they can do to prepare for all the new costs and rules.
One expert, Betsy McCaughey, former Lieutenant Governor of New York and constitutional scholar with a Ph.D. from Columbia University, recently wrote a best-selling book showing Americans how they can survive Obamacare.
McCaughey is one of the only people in the country-including members of Congress-who has actually read the entire 2,572 page law.
Her book, titled Beating Obamacare: Your Handbook for Surviving the New Health Care Law breaks down the complicated bill into 168 pages of actionable advice.
The book, written in an easy-going, easy-to-read style, shows some startling facts about Obamacare not seen in the mainstream press.
For example, she points to a little known passage in the bill that shows how you could get slapped with a $2,000 fine for not having health insurance - even if you do actually have it.
She also goes into detail explaining how one-third of all U.S. employers could stop offering health insurance to their workers.
In one chapter, she shows how ordinary Americans will get stuck paying for substance abuse coverage even if they never touched a drink or drug in their life.
She warns seniors to get some of those types of procedures done now before Obamacare goes into full effect.
In addition, many will find it difficult to keep their medical records private, according to McCaughey.
"The law will compel Americans to share with millions of strangers who are not physicians confidential private and personal medical history information they do not wish to share."