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.””