Former VP Joe Biden just made his first “gaffe” of the CNN debate, claiming “Obamacare is working.”
WATCH:
Joe Biden: "Obamacare is working. The way to build this and get to it immediately is to build on Obamacare" #DemDebate pic.twitter.com/apKL585tYa
— CNN Politics (@CNNPolitics) August 1, 2019
Social media was quick to respond and both Republicans and Democrats are widely mocking the claim.
Obamacare is working? Which world does Joe Biden think he woke up in?
Obamacare is working? Which world does Joe Biden think he woke up in? #DemDebate
— Amjad I. (@AmjadIsmail90) August 1, 2019
No applause as Biden says “Obamacare is working”
No applause as Biden says “Obamacare is working”
— Sarah Mimms (@mimms) August 1, 2019
Biden just said “Obamacare is working”. Seriously.
https://twitter.com/PeasantPol/status/1156724495949946881
Biden says ObamaCare is working.
Biden says ObamaCare is working…#DemDebates pic.twitter.com/iNaOHvcA5m
— ⭐M Starry (@marstarry) August 1, 2019
No Biden, Obamacare is not working
https://twitter.com/imperfectnewz/status/1156724486856724481
Biden: Obamacare is working.
8,0000 Pinocchios.
Biden: Obamacare is working.
8,0000 Pinocchios.
— Gladstone (@WGladstone) August 1, 2019
Sorry Biden, Obamacare was not exactly “working.”
Sorry Biden, Obamacare was not exactly “working.” #DemDebate
— Julissa (@JULEZ_91) August 1, 2019
From ChicagoTribune
Obamacare failed because it flunked Economics 101 and Human Nature 101. It straitjacketed insurers into providing overly expensive, soup-to-nuts policies. It wasn’t flexible enough so that people could buy as much coverage as they wanted and could afford — not what the government dictated. Many healthy people primarily want catastrophic coverage. Obamacare couldn’t lure them in, couldn’t persuade them to buy on the chance they’d get sick.
Obamacare failed because the penalties for going uncovered are too low when stacked against its skyrocketing premium costs. Next year, the penalty for staying uninsured is $695 per adult, or perhaps 2.5 percent of a family’s taxable household income. That’s far less than many Americans would pay for coverage. Financial incentive: Skip Obamacare.
Obamacare failed because insurance is based on risk pools — that is, the lucky subsidize the unlucky. The unlucky who have big health problems (and big medical bills) reap much greater benefits than those who remain healthy and out of the doctors’ office. But Obamacare’s rules hamstring insurers. They can’t exclude people for pre-existing conditions, and can’t charge older customers more than three times as much as the young. Those are good goals, but they skew the market in ways Obamacare didn’t figure out how to offset. Result: Young and healthy consumers pay far more in premiums than their claims (probably) would justify in order to subsidize the unexpectedly large influx of older, sicker customers who require expensive care. Too many unlucky people, too few lucky people: That will collapse any insurance scheme.
Obamacare failed because it allowed Americans to sign up after they got sick and needed help paying all those medical bills. Insurance should be structured so that, although you don’t know if you’ll need it, you pay for it anyway, just in case; your alternative is financial doom. But if you can game the system and, for example, buy auto coverage after you crash into your garage, then you have no incentive to buy insurance beforehand.
Obamacare failed because it hasn’t tamed U.S. medical costs. Health care is about supply and demand: People who get coverage use it, especially if the law mandates free preventive care. Iron law of economics: Nothing is free; someone pays. To pretend otherwise was folly. Those forces combined to spike the costs of care, and thus insurance costs.
Obamacare failed because too many carriers simply can’t cover expenses, let alone turn a profit, in this rigidly controlled system. Take Blue Cross and Blue Shield of Illinois, the state’s dominant Obamacare insurer. Last year, for every dollar the carrier collected, it spent $1.32 buying care and providing services for customers, according to BCBS President Maurice Smith. No wonder BCBS is proposing rate increases from 23 percent to 45 percent for its individual plans.
By Kambree Nelson
Source: theconservativeopinion
See more here: news365.stream