Obamacare death spiral watch

Obamacare death spiral watch

So the New York Times has got round to noticing what I pointed out last week in Forbes: the political parallels between Obamacare and the 1989 repeal of the Medicare Catastrophic Coverage Act:

Angry Americans voice outrage at being asked to pay more for health coverage. Lawmakers and the White House say the public just doesn’t appreciate the benefits of the new health law. Opponents clamor for repeal before the program fully kicks in.

The year was 1989, and the law was the Medicare Catastrophic Coverage Act, which was supposed to protect older Americans from bankruptcy due to medical bills. Instead it became a catastrophe for Democratic and Republican lawmakers, who learned the hard way that many older Americans did not want to be helped in that particular way.

One obvious difference here is that Obamacare is a political catastrophe only for Democrats.  But let us continue:

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