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Schiff:
Destroy This Monster That Threatens Us All
It's
fair to say Peter Schiff despises Obamacare.
"If
current trends continue, the rollout [of Obamacare] may go down as
the worst major product launch in history," Schiff writes in his
latest Euro Pacific Capital newsletter.
Schiff
believes that even if the Obamacare website starts working, it won't
fix Obamacare.
"Given
the government's enormous resources, it's safe to say that the site
itself will ultimately be fixed," says Schiff. "But when it
is finally up and running, the plan's many deeper, and more
intractable, flaws will come into focus. That's when the fun will
really begin."
He
adds that "republicans should destroy this monster that
threatens us all."
"The
real shock of Obamacare is not the unbelievable ineptitude in which
it was launched, but the naiveté in which it was designed,"
says Schiff.
Schiff
warns, "The fact that Obamacare does nothing to rein in costs
while providing an open-ended insurance subsidy may be good news for
hospitals and insurance companies, but it's bad news for taxpayers,
on whom this increased burden will ultimately fall."
Obamacare
was supposed to make affordable healthcare available for all.
Yet,
not only will healthcare costs rise, but Obamacare could actually
increase the amount of uninsured Americans.
That's
because millions who have insurance have been told that they will
lose their plan, even though President Obama promised "if you
like your plan, you can keep it."
And
that's just one of the many lies Americans are finding out about
Obamacare.
"Put
simply the program is built on a mountain of false assumptions and is
covered by a terrain of unanticipated incentives. Any cleared-eyed
observer should conclude that it is perfectly designed to raise the
costs of care and wreck the federal budget." says Schiff.
"However, like just about every other complicated problem that
bedevils the nation, the public has become far too caught up in the
politics and has ignored the horrific details."
The
silver lining, according to Schiff, is that Obamacare could unravel
before it does any long-term damage.
"Unlike
other major entitlements, like Social Security and Medicare, that
took years to produce red ink that was far in excess of original
assumptions, the financial shortfalls in Obamacare should show up
very quickly."
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.
According
to McCaughey's research, senior citizens will get hit the hardest.
"If you're a senior or a baby boomer, expect less care than in
the past," she says. "Hip and knee replacements and
cataract surgery will be especially hard to get from Medicare in the
months ahead."
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."
Publisher's
Note: Real facts and figures about the hidden Obamacare taxes and
fees and how they will affect everyday Americans and seniors are hard
to find. As a courtesy, Money Morning is offering readers a free copy
of Betsy McCaughey's new book Beating Obamacare: Your Handbook for
Surviving The New Health Care Law.
Read
the article and use the links at Money Morning
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