How would you feel if someone promised to give you a car, and then reneged on that pledge? That’s how all Americans should feel when it comes to ObamaCare — because Barack Obama’s failed and discredited campaign promise to lower health insurance premiums has cost the average American family an amount equal to the price of many new cars.
During his 2008 campaign, one of then-Senator Obama’s most audacious promises was that his health plan would reduce premiums by $2,500 for the average family. His repeatedly made his pledge on videotape; you can view those promises here. But health insurance premiums have continued to rise — not just despite ObamaCare, but in many cases because of the law’s new regulations and mandates.
A new analysis by the think-tank America Next, where I serve as honorary chairman, quantifies the massive scope of the broken promise. Compared to 2008 — the year President Obama was elected — Americans have faced a cumulative $6,388 per individual, and $18,610 per family, in higher costs because President Obama’s health plan has failed to achieve its promised premium reductions. Overall, that amounts to $1.2 trillion in higher premium costs due to ObamaCare’s failure to deliver.