The Patient Protection and Affordable Care Act (aka, Obamacare) was passed into law by President Obama in 2010. President Obama promised repeatedly that premiums would decline by $2,500 per year under Obamacare. Sounds terrific, no?
The reality is that the YoY growth in the average cost of medical care in the US is now over twice that of CPI “inflation” YoY.
This is what is called by a Swiss economist friend of mine “a bondoogle.”