I can give you one story from the projected premiums........will know more on Tuesday but: my 26 year old son bought health insurance at age 24 (didn't add him to my policy because Blue Cross said it was cheaper to get his own policy). $500 deductible.....$30 to see a doctor with no deductible....$10 for generic prescriptions with no deductible.......pays for a well check-up yearly for free.......if he reaches the deductible then 20% up to $5000 he pays and Blue Cross pays 100% thereafter. Cost then: $59 per month, cost now: $66 per month......cost projected after Obamacare: in excess of $200 per month.
He won't be able to afford it and will have to go without and pay the penalty. And, his taxes will pay for subsidies for the poor to have insurance.
Net effect is that those marginally affording and having insurance now won't, the poor will, and those without under Obamacare will subsidize others.
That is why it will fail.....20 and 30 year olds are not dumb. They will not pay triple their current premium. Easier to go without until you need it. When you apply the only thing that can be considered in setting your premium is your age, whether you smoke, and where you live. So, why buy it at all? I'm 59 and I may drop mine until I need it. Much cheaper for me to pay the penalty.
Raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
He does answer his own posts. Everyone else has been crowded out. The boy has made a big investing mistake, however, he has fallen in love with a stock. Keep your eyes open for the heartbreak he is headed for.