#obamacare

Pence emerges unscathed from the liar’s den

Aside from the chronic bias of the moderator, VP Mike Pence remained calm at all times and showed up the flip-flop nature of Senator Kamala Harris who will be fact checked and exposed for all of the nonsense she espoused tonight. Pence constantly made the line,

Senator Harris, you are entitled to your own opinion. You are not entitled to your own facts,”

the key undoing of most of her replies.

The beauty of Harris was that she naturally went straight to identity politics as a reason to vote for her. She also rattled off so many lies about her record from deflecting she co-sponsored AOC’s GND, denying Joe Biden had ever said he wanted to ban fracking, lying about pre-existing conditions with respect to healthcare to avoiding answering the question of packing the Supreme Court. It was so transparent. Especially when it came to foreign policy and ridiculous Russia allegations.

Pence’s best moment came when he dragged out the Obamagate investigation into the spotlight. He turned the Russia collusion nonsense straight back on the Dems and Hillary Clinton and made the point to the question of accepting the election result that, “the Democrats haven’t accepted the results from the last election” and HRC telling “Biden should not concede.” Pence pointed out that the Dems have put America through so many shambolic episodes such as impeachment and the Kavanaugh confirmation that their behaviour is on the ballot.

As an aside, my wife, whose second language is English and is not into politics at all, made the point about how inauthentic Kamala Harris was. The grin, the cackle and constant reference to her identity. In her view, Pence just came across as a steady hand who never lost his temper or got emotional.

Easy win for Pence.

Kevin Bloody Wilson sums up the first Trump Biden Debate

https://youtu.be/cJ_46Woadeg (profanity warning)

What a circus. A screaming match. Like two bald men arguing over a comb. Talking over each other and lots of name calling. We’ve seen more gracious belly flops in Olympic 10m diving.

None of the content was fresh other than Trump talking about his push to lower drug prices and Biden’s Roe v Wade attack on SCOTUS nominee Amy Coney Barrett. .

No doubt the media will pick the bones of the highlights and edit to fit whatever narrative they want to portray to say their man won. In reality, the content didn’t mean much. It was all noise.

If some were looking for dignity, they opened the wrong door. Trump was Trump. Typically boisterous and he cut in way too much meaning Joe Biden couldn’t get a word in edgeways.

Biden on the other hand was way better than the low expectations set. Sure he stuttered now and again as he rattled off his “here’s the deal” messages while staring down the camera but he came across far more statesmanlike. No question. But his script was tired and predictable.

Biden started strong on COVID but flailed on the economy, environment, taxes and riots/race. Trump nailed him on Biden’s lack of police endorsements.

Trump also muddled the response on condemning the KKK and white supremacists despite doing so explicitly in 2017. Saying “stand down, stand by” to the Proud Boys will no doubt be played on a loop. He should have been firm on it.

We could go on critiquing more minutiae but what is the point? Much of the back end was mud slinging. Slagging off Hunter Biden and his cocaine habit or Trump’s $750 income tax return charge.

We doubt many shifted from their default positions heading into the debate.

In summary, most can’t wait to get November 3rd behind them.

#WalkAway story on Healthcare – Trump vs Obama

Presented without comment.

I’m a #WalkAway because I have witnessed Democratic corruption firsthand within Healthcare.

I work in healthcare and have seen the detriment that Obamacare was to our country. It eliminated the competition between health insurance companies so premiums skyrocketed, coverage and benefits dwindled, and citizens were forced to go to clinics instead of private doctors – access to care and quality of care fell substantially. If you couldn’t afford to pay for Obamacare, you were unfairly penalized through taxation…

…President Trump seeks to reduce drug and medical costs to a point that is affordable for all citizens. We can provide for ourselves and make our own choices. He is giving power back to the people.

Here are some of the Executive Orders that Trump has signed regarding Healthcare:

13765 – Removed the tax penalty that came from Obamacare

13784 – Established a commission to combat the opioid crisis

13813 – Eliminated insurance borders to increase competition and drive premium costs down

13877 – Improved price and quality transparency in healthcare to help patients choose where to seek the best care

13879 – Advanced American kidney health by providing funding for support and research concerning dialysis

13890 – Protecting and improving Medicare

13909 – Prioritizing and allocating resources to respond to spread of COVID19

13910 – Preventing hoarding of medical resources

13911 – Allowing DPA to aid in COVID19 response

13937 – Improving access to your affordable medications

13938 – Increasing drug importation to lower prices for patients

13939 – Eliminating medical kickbacks to middlemen to reduce cost to patients

13941 – Improving access to telehealth

He is also ordering insurance companies to cover all preexisting conditions, is slashing prices of insulin and epi pens, and is ordering pharmaceutical companies to sell drugs to our country at the lowest worldwide price.

For these reasons I vote RED. A vote for President Trump is a vote for the health of America.”

US Healthcare bankruptcies surge 270% in 2018 vs 2017

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6 months ago we wrote of the growing crisis of hospitals declaring bankruptcy in America. While The Affordable Care Act (Obamacare) is often lauded by some as noble legislation, according to bankruptcy lawyers, Polsinelli, the changes made to reimbursements that used to help cover hospitals who treated uninsured patients that were pulled under ACA have sent many hospitals to the bankruptcy A&E ward. Polsinelli wrote this month,

The Health Care Services Distress Research Index was 455.00 for the first quarter of 2018. This is an increase over 173 points from last quarter’s record high, approximately 62 percent. The index has experienced record or near-record highs in seven of the last eight quarters. Compared with the same period one year ago, the index has increased over 333 points, approximately 270 percent, and compared with the benchmark period of fourth quarter of 2010, it is up approximately 355 percent.”

HCBR

Polsinelli also wrote in 1Q 2017 that,

“Unlike the public markets, the Polsinelli/TrBK Distress Indices include both public and private companies, creating a broader economic view and one which may show developing trends on Main Street before they appear on Wall Street….Health care distress is high and it seems to be getting worse…

…The business of health care is unlike other industries, such as manufacturing, real estate, or retail. Health care faces all the traditional business challenges, such as competition, the impact of technology on services, and increasing wages. But more, the health care industry is needing to adapt to increasing regulations, changes in reimbursement rates from government or private payors, and a shift from traditional fee-for-service to value-based models that impact profitability…There is unprecedented pressure of major systemic changes to the existing health care system, particularly the implementation of the Affordable Care Act over the last several years and the current status of the program, which is alternately being repealed, repealed and replaced, phased out, or simply defunded…The (Obama) administration’s recent decision to terminate cost sharing reduction payments will also directly impact the health care market. Insurance companies may continue to provide insurance at a higher premium or decide to exit the markets. Eliminating these payments and the resulting premium increases may increase the cost to the government through premium subsidies.”

In short many Americans saw a doubling of premiums (an average increase of 113%) under Obamacare inside of 4 years causing many to forgo the insurance. The reimbursements under the old system (which helped compensate hospitals administering emergency treatment for the uninsured) that were stopped on the proviso people would take up ACA plans backfired. Not enough people signed up and more hospitals running on a days cashflow have been forced to close because the reimbursements designed to protect them against uninsured patients disappeared. When Jonathan Gruber, the architect of Obamacare, testified to Congress he candidly said,

The Affordable Healthcare bill was written in a tortured way to make sure the (Congressional Budget Office) did not score the mandate as taxes…If CBO scored the mandate as taxes, the bill dies, OK? Lack of transparency is a huge political advantage … call it the stupidity of the American voter or whatever … that was really, really critical to get the thing to pass … I wish … we could make it transparent, but I’d rather have the law than not.”

Makes one wonder what the status of the medical equipment suppliers who lease equipment to these hospitals does with the machines they repossess.

Deplorably delicious ratings for connecting comedy with real life

Roseanne is back on screens after 21 years. It is all about struggling working class Americans.  According to The Hollywood Reporter, the two episodes averaged a 5.1 rating in the key demographic coming in at 18.1 million viewers, making it the “highest-rated regularly-scheduled scripted show of the last few seasons, as well as the highest-rated sitcom in recent memory”.

So much for Trump haters, given she is portrayed as a grandmother who shares medication with her husband to save money, has a black grandchild, a son back from deployment in Syria while his wife is still serving on tour in the military. Their mid 40s daughter Becky is a widowed restaurant worker looking to become a surrogate mother for $50,000, so she can pay off her credit cards, put a deposit down on a home and buy a car. Roseanne’s sister protests her support for Trump calling her a deplorable.

It is amazing what happens when media companies cater to their audiences. Just like the ballot box, the privacy of one’s TV set allows people to express their true feelings. Real life transcends. Reminds of the success of The Office resonating with so many in the workplace with respect to horrible bosses, office romances and company politics.

Should we trust ratings agencies on US state credit?

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The Financial Crisis Inquiry Commission concluded in 2011 that “the global financial crisis could not have happened without the ‘Big Three’ agencies – Moody’s, Standard & Poor’s and Fitch which allowed the ongoing trading of bad debt which they gave their highest ratings to despite over three trillion dollars of mortgage loans to homebuyers with bad credit and undocumented incomes.” The table above tabulates the deterioration in US corporate credit ratings since 2006. The ratings agencies have applied their trade far more diligently.

As written earlier in the week, US state public pensions are running into horrific headwinds. Unfunded pension liabilities are running at over double the level of 2008. With asset bubbles in stocks, bonds and property it is hard to see how plugging the gap (running at over 2x (California is 6x) the total tax take of individual states) in the event of a market correction is remotely realistic. However taking a look at the progression of US states’ credit ratings one would think that there is nothing to worry about. Even during GFC, very few states took a hit. See below.

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Looking at the trends of many states since 2000, many have run surpluses so the credit ratings do not appear extreme. It is interesting to flip through the charts of each state and see the trajectory of revenue collection. A mixed bag is putting it lightly. Whether the rebuild after Hurricane Katrina in 2005, since 2008 revenue collection in Louisiana has drifted.

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Looking through S&P’s own research at the end of last year it included an obvious reference.

U.S. state and local governments can use pension obligation bonds (POBs) to address the unfunded portion of their pension liabilities. In certain cases, POBs can be an affordable tool to lower unfunded pension liabilities. But along with the issuance of POBs comes risk. The circumstances that surround an issuance of POBs, as well as the new debt itself, could have implications for the issuer’s creditworthiness. S&P Global Ratings views POB issuance in environments of fiscal distress or as a mechanism for short-term budget relief as a negative credit factor.”

Perhaps the agencies have learnt a painful lesson and trying to stay as close to being behind the curve as possible. It doesn’t seem like public pensions are being factored at levels other than their actuarial values. Marked-to-market values would undoubtedly impact these credit ratings.

As mentioned in the previous piece on public pensions, a state like Alaska has public pension unfunded liabilities equal to $145,000 per household, treble the 2008 figure. It is 3.5x annual tax collections. The state’s per capita operating budget of $13,728 per person is way above the national average of $6,826 per person. Alaska relies on oil taxes to finance most of its operating budget, so a sudden drop in oil prices caused tax revenues to sharply decline. The EIA’s outlook doesn’t look promising in restoring those fortunes in any scenario. So S&P may have cut Alaska two places from AAA in 2015 to AA in 2017.

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While pension liabilities aren’t all due at once, the last 8 years have shown how quickly they can fester. It wasn’t so long ago that several Rhode Island public pension funds reluctantly agreed to a 40% haircut, later retirement ages and higher contributions with a larger component shifted from defined benefits to defined contributions raising the risk of market forces exerting negative outcomes on the pension fund.

In 2017, despite a ‘robust’ economy, 22 states faced revenue shortfalls. More states faced mid-year revenue shortfalls in the last fiscal year than in any year since 2010, according to the National Association of State Budget Officers.

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Pew Charitable Trust (PCT) notes in FY2015 federal dollars as a share of state revenue increased in a majority of states (29). Health care grants have been the main driver of this. FY2015 was the 3rd highest percentage of federal grants to states since 1961.

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By state we can see which states got the heftiest federal grants. Most states with higher federal shares expanded their Medicaid programs under Obamacare (ACA) and got their first full year of grants under the expanded program in FY2015.

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PCT also wrote “At the close of fiscal year 2017, total balances in states’ general fund budgets—including rainy day funds—could run government operations for a median of 29.3 days, still less than the median of 41.3 days in fiscal 2007…North Dakota recorded the largest drop in the number of days’ worth of expenses held in reserves after drawing down almost its entire savings to cover a budget gap caused by low oil prices. It held just 5.4 days’ worth of expenditures in its rainy day fund at the end of fiscal 2017 compared with 69.4 days in the preceding year… 11 states anticipate withdrawing from rainy day funds under budget plans enacted for fiscal 2018

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Looking at the revenue trends of certain states, the level of collection has been either flat or on the wane since 2010 for around 26 states. As an aside, 23 of them voted for Trump in the 2016 presidential election. The three that didn’t were Maine, NJ and Illinois.

Optically US states seem to be able to justify the credit ratings above. Debt levels aren’t high for most. Average state debt is around 4% of annual income. Deficits do not seem out of control. However marking-to-market the extent of public pension unfunded liabilities makes current debt levels look mere rounding errors.

Considering stock, bond and property bubbles are cruising at unsustainably high levels, any market routs will only make the current state of unfunded liabilities blow out to even worse levels. The knock on effects for pensioners such as those taking a 40% haircut in Rhode Island at this stage in the cycle can only feasibly brace themselves for further declines. This is a ticking time bomb. More states will need to address the public pension crisis.

A national government shelling out c.$500bn in interest payments on its own debt in a rising rate environment coupled with a central bank paring back its balance sheet limits the options on the table. Moral hazard is back on the table folks. Is it any wonder that Blackstone has increased its short positions to $22 billion?

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Healthcare in America – more hospitals going bankrupt

The Affordable Care Act (Obamacare) is often lauded by some as noble legislation. Yet according to bankruptcy lawyers, Polsinelli, the changes made to reimbursements that used to help cover hospitals who treated uninsured patients were pulled under ACA and have sent many hospitals to the bankruptcy A&E ward. The law firm said in its report,

The Health Care Services Distress Research Index was 223.33 for the third quarter of 2017. The Health Care Distress Index increased 15 points from last quarter. The index has experienced record or near-record highs in 5 of the last 6 quarters. Compared with the same period one year ago, which was a record high at that time, the index has increased 60 points. Compared with the benchmark period of the fourth quarter of 2010, the index is up over 123 percent…Unlike the public markets, the Polsinelli/TrBK Distress Indices include both public and private companies, creating a broader economic view and one which may show developing trends on Main Street before they appear on Wall Street….Health care distress is high and it seems to be getting worse…

…The business of health care is unlike other industries, such as manufacturing, real estate, or retail. Health care faces all the traditional business challenges, such as competition, the impact of technology on services, and increasing wages. But more, the health care industry is needing to adapt to increasing regulations, changes in reimbursement rates from government or private payors, and a shift from traditional fee-for-service to value-based models that impact profitability…There is unprecedented pressure of major systemic changes to the existing health care system, particularly the implementation of the Affordable Care Act over the last several years and the current status of the program, which is alternately being repealed, repealed and replaced, phased out, or simply defunded…The administration’s recent decision to terminate cost sharing reduction payments will also directly impact the health care market. Insurance companies may continue to provide insurance at a higher premium or decide to exit the markets. Eliminating these payments and the resulting premium increases may increase the cost to the government through premium subsidies.”

In short many Americans saw a doubling of premiums (an average increase of 113%) under Obamacare inside of 4 years causing many to forgo the insurance. The reimbursements under the old system (which helped compensate hospitals administering emergency treatment for the uninsured) that were stopped on the proviso people would take up ACA plans backfired. Not enough people signed up and more hospitals running on a days cashflow have been forced to close because the reimbursements designed to protect them against uninsured patients disappeared. When Jonathan Gruber, the architect of Obamacare, testified to Congress he candidly said,

The Affordable Healthcare bill was written in a tortured way to make sure the (Congressional Budget Office) did not score the mandate as taxes…If CBO scored the mandate as taxes, the bill dies, OK? Lack of transparency is a huge political advantage … call it the stupidity of the American voter or whatever … that was really, really critical to get the thing to pass … I wish … we could make it transparent, but I’d rather have the law than not.”

4 more years

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Start laughing. It is ok. It is the same thing heard time and time again since forecasting it back in mid-2015. Yes, at this rate he is staring at another 4 years should his health hold out. This week capped off yet another mad push for so called ‘progressive’ (regressive) values will only drive the wedge of division ever deeper. People are growing sick and tired of being told how they must think. When liberal TV host Bill Maher admits openly that “Democrats, this movement to childproof the world has made Republicans the party of freedom and Democrats the party of poopers.” you know they are in trouble. Yet they can’t help being victims. Have you already forgotten how the liberals turned on Rachel Maddow over the tax returns? Yet one can guess they won’t run a more centrist candidate like Bill Clinton in 2020 but one pushing the thresholds of the identity kit. If they can find a genderless Dreamer who was raised by a North Korean Muslim lesbian couple they’ll have their ‘person’.

Sure liberals can celebrate the admission of girls into the Boy Scouts. It will probably become Scouts of America where tying knots will be replaced with wearing a rainbow scarf, learning gender fluidity while being banned from rubbing two sticks together to make fire because it is harmful to the environment.  No doubt they’ll learn the correct use of genderless pronouns which in reality will be of high value because the State of California would sooner jail citizens for incorrect use of language than properly vetting illegal immigrants. By the way how silent has the media been now that the Supreme Court ruled 8-1 to approve the revised travel ban? No matter how one might hate it or view its insensitivity, many of those that voted for him will happily chalk it up as a win. He ran that as part of his election campaign. Get over it.

Of course celebrating  Columbus Day 2017 was yet another chance to bash colonialists for things that modern day descendants had nothing to do with.  The City of Detroit wants to replace it with Indigenous People’s Day. Well truth be told that Michiganites born in America are indeed indigenous. We had this debate in Australia this year where socialist and Greens city councils in the Marxist state of Victoria went beyond their remit of collecting rubbish and keeping park amenities clean by announcing they would be scrapping Australia Day. Instead of asking their 240,000 residents for their opinion they rigged a poll by asking 80 activists and even then couldn’t muster more than 60% in favour of their preferred name of ‘Invasion Day’. Talk of pathetic when they can’t even get all of the victims onside. Yet the mayor of one of the councils decided to speak down to those who couldn’t accept it by telling them they lacked ‘education’. The irony was that many prominent aborigines are in favour of Australia Day because it celebrates togetherness and how far the nation has come rather than rake over coals that happened  230 years ago. Yet the socialists made out that calling it Australia Day for aborigines was the equivalent to the Jews as Germans celebrating ‘Holocaust Day’. Seriously?

This year statues of former Confederate generals like Robert E Lee sparked outrage when nary we heard a peep beforehand. Even people like basketball legend Charles Barkley said he has never driven past any statues and associated them with any excuse to grieve today. So once again Australia copied suit. Calling for the removal of statues of Captain James Cook, Governors Phillip and Macquarie, because they weren’t discoverers and settlers but ‘invaders’. Yet liberals will happily find this as another excuse to play the victim by erasing the history they don’t like. Get rid of the statues and it won’t be long before the next victim case arrives in the in-tray to protest over. Once again, people are tired of the lectures. Sick of being told they should feel guilty for things they had no control over because they weren’t even born at the time. How can we possibly move forward if they’re forever wanting people not responsible for things to apologize and be wracked with guilt? Move on!

Then we have had the NFL saga. The original BLM protest started by Kaepernick kneeling has been so diluted from its original purpose that the controversial quarterback promises to stand during the anthem if he can have a multi million dollar contract again. The initial shirt fronting bluster of NFL Commissioner Roger Goodell has turned into a 180 degree retreat after Trump tweeted about considering cutting the generous tax breaks the league receives. Money talks greater than protests in the end. Fans were sick of the in their face protests when they wanted to unwind in front of the ball game. While progressives scream the right to ‘freedom of speech’, fans merely exercised freedom of consumption – burning memorabilia and season tickets. The very money that pays the multi million dollar salaries of the players have a right to get what they handed over their hard earned dollars for. Even if they want to draw attention to a worthy cause do fans require it drilled into them every game? This is the problem with the left. It bangs on incessantly that it ends turning people off. I have not heard of fans complaining of any players protesting on their own time. Whether we like it or not, NFL players are employees. If any of us took a knee to our boss who told us to manage a difficult account you shouldn’t be surprised if you’re demoted or worse. It is not a violation of free speech. It is dissent – pure and simple. Just like those openly using tax-payer funded websites to vilify their boss. Once again, send a mail to your boss cc-ing the firm and tell him or her what a complete jerk they are and see how long you last.

Now we have Weinstein. Liberal celebrities are trying to cover up their own impropriety (Affleck, Kimmel et al) post the exposure of ‘one of their own’ by turning on POTUS. There has been tweet and post after post on Trump’s ‘p*ssy grab’ tape (which by the way he was elected in full knowledge of voters) being just as bad as Weinstein. While once can cry foul that these are double standards to OK the president but vilify Weinstein for disrespecting women, his legion of followers have more of an issue with Hollywood hypocrites try to push their heightened sense of values on them when they so blatantly hid a monster that served their lavish lives. The deplorables are sick of these liberals lecturing them. It is not a question of who is worse – Trump or Weinstein- but having actors talk down to them in such sanctimonious fashion.

Then it was only a few weeks back that Michelle Obama was bludgeoning American women for obeying their husbands at the polling booth and abandoning the ‘sisters’. Does Mrs Obama honestly believe she will sway female Trump voters back to being Democrats by calling out their supposed lack of intelligence. What a slap in the face to all women to have her patronize them. I do not recall her making those sweeping statements to get a woman in the Oval Office when Hillary ran against her husband in 2008?

So the only message to liberals is that if they want to get rid of the President then they ought to pay attention to all of the things which cost them the election in 2016. If anything they’ve amplified the noise which turned people away in droves. One can see the 2020 election campaign by the Democrats. It will crank up victimhood, identity politics and focus on trying to get people married to the state. Isn’t it telling that Trump said if politicians don’t want to overhaul Obamacare then they can switch from a bountiful taxpayer healthcare plan to the system they are resisting  change – how silent they’ve become…then again how many from both sides of the house are on the payroll of big pharmaceutical companies…? This is the thing – it is no longer GOP vs Democrats – both are not behind POTUS. If he ran as an independent he’d win.

The way the liberals can win is to encourage open, rational debate (like the Trump rally which gave their stage to BLM protestors to wonderfully unify them on many levels), allow conservatives to speak on campus on issues without causing trigger warnings, micro aggression and safe spaces and to refrain from shoving every political issue in the electorate’s face at every opportunity.  Failure to do so will practically guarantee a return of the incumbent in 2020. All the signs point to an even bigger defeat. Keep up the good work. The only fear is that any the rate your expending grievances you may run out of things to moan about when the next 4 years eventually arrive.

Obamacare likely to collapse as it gets exposed for what it wasn’t in the first place

Obamacare 2016

It looks as though Obamacare is looking increasingly less likely to deliver. The whole premise of Obamacare was to provide affordable health care. Obamacare was all about offering a wider number of people more access to healthcare at competitive prices on transparent public exchanges. It seems that moving into 2017, more people will be faced with only 1 choice meaning healthcare premiums are likely to get less affordable for many. States such as Tennessee are great examples of it potentially going to zero cover.

Obamacare 2017

”Blue Cross Blue Shield (BCBS) is the only insurer that has provided statewide coverage in Tennessee over the past 3 years with other insurers electing to only participate in select counties.  BCBS has lost a total of c.$500mm over that time period, in Tennessee alone, which prompted their request for a 62% premium increase in 2017.  The problem for the insurance commissioner is that BCBS hasn’t yet committed to providing insurance statewide, a decision they don’t have to formally make until mid-September.  Given that BCBS is the only statewide provider, any decision to pull back coverage could result in people in certain Tennessee counties losing access to health insurance all together. ”

Once again, the fawners over Obama’s legacy might once again look at what this plan hasn’t achieved and maybe we can reflect on an article written in The Australian in early 2015

“Nothing symbolises the depths to which the American democratic process has sunk than the testimony of Jonathan Gruber,the architect of Obamacare, to a House of Representatives inquiry. “The (Affordable Healthcare) bill was written in a tortured way to make sure the (Congressional Budget Office) did not score the mandate as taxes,” he said. “If CBO scored the mandate as taxes, the bill dies, OK? Lack of transparency is a huge political advantage … call it the stupidity of the American voter or whatever … that was really, really critical to get the thing to pass … I wish … we could make it transparent, but I’d rather have the law than not.”

Full marks to Professor Gruber for his candour. His subterfuge worked a treat. It conned the Supreme Court and moved House Speaker Nancy Pelosi to say, “We have to pass the bill so you can see what is in it.”

Such is the nature of the Obama administration. Opposed by a clear and consistent majority of citizens, the dishonestly titled Affordable Healthcare Act passed. It means, contrary to President Obama’s countless assurances, millions of Americans cannot choose their doctor or hospital and will have to pay higher premiums. To cover the costs of this socialised medicine, tax increases on everything from Medicare to capital gains were voted in by the Democrats.”