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Insurance Regulators Approve Increases Based on Obamacare

In Connecticut, insurance rate regulators have approved hikes in insurance premiums of up to 20 percent, agreeing with insurers that Obamacare increased their costs. Some people will now pay thousands of dollars a year more as a result. This contradicts claims made by President Obama and his aides that the new health care law would cut health care costs and bend the cost curve down. Employers like AT&T, Caterpillar, John Deere, and Verizon have already reported major cost increases due to the new health care law. As noted earlier, the health care law raises taxes on the middle-class and investors in future years. Obamacare will cause many harms, such as reducing life-saving medical innovation and increasing state budget deficits. It is based on accounting gimmicks that will increase the federal deficit, as even some Obama supporters have admitted -- like David Brooks, who in a moment of candor called arguments for the bill “"unbelievable" and "insane."