Obama: Healthcare Law 'Starting to Bear Real Fruit'
With just ten days to go until Obamacare's insurance exchanges begin, President Barack Obama touted the crony capitalist benefits of his healthcare overhaul to corporate executives Thursday.
"The cost of healthcare is now growing at the slowest rate in 50 years," Obama said to members of his Export Council. "If the current trends hold... we're going to see a continuing slowing of healthcare costs. That's going to boost our exports."
Obama added: "It turns out actually a lot of what we've done is starting to bear real fruit."
However, according to a report released Wednesday from Medicare's Office of the Actuary, U.S. healthcare spending will jump by 6.1% next year—a figure 2% higher than the growth rate—due to Obamacare. Furthermore, according to Investor's Business Daily's running Obamacare scorecard, at least 301 businesses have already laid off thousands of workers and are slashing workers' hours to avoid government fines and penalties.
Obama's efforts to entice corporate interests with the profit-producing virtues of his taxpayer-funded government overhaul of America's healthcare system came as House Republicans readied Friday's vote to defund Obamacare.
Meanwhile, after numerous blown implementation deadlines, the federal government is scrambling to cobble together the government's Obamacare exchanges on time. On Thursday, an Obamacare bureaucrat refused to answer whether Obamacare exchanges will be ready for Americans to enroll in on October 1 when questioned by Rep. Michael Burgess (R-TX) during a House Energy and Commerce Oversight and Investigations Subcommittee hearing.