Obama Off by 3,000% on Insurance Premium Savings
Posted by Jim Hoft on Wednesday, March 17, 2010, 5:54 AM
Obama told a group of supporterson Monday that with Obamacare their premiums will decrease by 3,000%.
They actually clapped and screamed when he pushed this ridiculous figure:
But, of course, this was not true. It wasn’t even close. In fact, even the AP wasn’t buying it, via Sweetness and Light:
Buyers, beware: President Barack Obama says his health care overhaul will lower premiums by double digits, but check the fine print.
Premiums are likely to keep going up even if the health care bill passes, experts say. If cost controls work as advertised, annual increases would level off with time. But don’t look for a rollback. Instead, the main reason premiums would be more affordable is that new government tax credits would help cover the cost for millions of people.
Listening to Obama pitch his plan, you might not realize that’s how it works.
This is another good reminder that Obama and democrats will say and do anything to get their horrid bill passed.
More… Major Kong is beside himself:
Well that’s not good news. I just applied for a Community Reinvestment Act loan to be provided by Fannie Mae, in which I listed as assets the huge savings I was to realize through the 3,000% reduction in my medical insurance premium. Now I may not get the loan.And if I don’t get the loan what hope do I have of getting bailed out when I can’t make loan payments?
What to do? What to do?
ADVERTISEMENT
-
Featured Story:
Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 72 Comments
jjjjjjjj commented:
Democrats are pushing for a system of “single provider”(the Govt) and a monopoly how is that going to help costs?
Ladue Pundit commented:
This liar cranks out more whoppers than Burger King. He knows he can get away with it.
The foundation of a free society is a free press. The U.S. press has enslaved themselves to the Democrat Party.
down with dems commented:
And where do government tax credits come from? The government tax credit fairy?
Smoke and mirrors
Taqiyyotomist commented:
I think that, by far, the most important aspect of this incident is how the crowd cheered when he said it. These people would eat poop if he told them it was a cupcake.
Mmmm, mmmm, mmmm…..as it were.
Major Kong commented:
Well that’s not good news. I just applied for a Community Reinvestment Act loan to be provided by Fannie Mae, in which I listed as assets the huge savings I was to realize through the 3,000% reduction in my medical insurance premium. Now I may not get the loan.And if I don’t get the loan what hope do I have of getting bailed out when I can’t make loan payments?
Son of Liberty commented:
Public option is back
meanwhile Kaine promises more bribes on Baran’s behalf.
FatBaldnSassy commented:
It’s perfectly obvious that more doctors and more medical facilities are needed before health care costs come down. Even in the unlikely event that this were to happen, government intervention, malpractice litigation, and insurance company red tape will work against a drop in prices.
Melvin Winter commented:
Related YouTube parody: Obama Impersonates Dr. Evil with 3000% Claim: http://www.youtube.com/watch?v=_PltdEp3Opk
Andreas K. commented:
If you’re 20, and not a leftist, you have no heart.
If you’re 30, and still a leftist, you have no brain.
Patman commented:
What’s a few extra 0000′s anymore?
If you don’t like this bill then you’re a crony for capitalism, which makes you an enemy of the state.
Hope and Change…
middleagedhousewife commented:
The Beaufort Observer carried this story this morning. You’re right, those people were delirious with pleasure at being in the presence of Their One. Well, maybe not the dude in the gray sweater/black tie – he looked kinda creepy but still managed to fit right in.
See Obama saves us all!! at http://www.beaufortobserver.net/
JKB commented:
I’m not a climatologist so this math is confusing:
How is this going to save money if some employers are not only going to see their health care premiums go to zero but also receive 29 times the old premium?
In addition, Obama again reveals his misunderstanding about employee compensation. If the premiums decline for the employer but the healthcare remains, the employee compensation is still that required to retain and recruit employees so why would the employer give a raise? Absent to the point of the government gun, of course.
gus commented:
If by now you cannot see that Obama is a committed MARXIST, then you aren’t paying attention or you are a libtard. Obama is not an honest man. Nearly everything he says is a lie and he knows it.
We have told him NO, yet he continues to try to rape us. No means no. If they persist they do so at their own peril
gus commented:
JKB, Obama does not care about the details. He wants Communism now. It is starting to sink in to a lot of people. Stalin didn’t care that people starved by the millions. He wanted communism and he craved control.
Obama is no different.
Mike commented:
I was going to explain the simple mathematical concept of something that used to cost money and is now free as being a 100% reduction in cost. Then, I realized we were talking about our president. That makes any discussion of economics or numbers in general useless. Like him.
olm commented:
I have a dead serious question. I believe that we will have Obamacare as law by Sunday. I also believe that this is the Marxist in chief’s plan for socialism by 2012.
He’s almost there.
How do we, the American People, stop this? Don’t tell me elections. They’ve destroyed the Constitution, therefore the election process will be as meaningless as the legislative process has become. As unbelievable as this is to me, I am afraid that my children will grow up in a country unlike any I’ve experienced. If I wanted any thing but a free society, I would have moved.
Irish commented:
Just off of Comcast.net news:
Democratic Representative Dennis Kucinich, saying he may be the “deciding vote,” announced on Wednesday he will back the Senate-passed healthcare bill that President Barack Obama hopes to sign into law.
Ruth Damiano commented:
olm
Ditto – and well put. I truly fear for my country.
bg commented:
++
BHO ~ “my commitment is to make sure we have
universal health care by the end of my first term”
Obama wants a single-payer system
“A public option will put the private insurance industry out of business and lead to single-payer.” [.] “My single-payer friends,” [.] “he was right.” [.] “This is not a principled fight. This is a fight about strategy for getting there, and I believe we will.”]
==
bg commented:
++
Melvin Winter @ 10:08 am #11
disclaimer: not so funny is how parody
v reality seemingly morph via Obama..
==
bg commented:
++
Obama to Bankers:
“My administration is the only thing
between you and the pitchforks”..
“we the people” to Obama:
nice try, but wrong, our pitchforks are aimed at you..
==
Kentucky Colonel commented:
Palin saying that there would be a 3000% savings on insurance premiums just shows how stupid she is. Oh, wait. You mean Obama said that? He’s so smart, it must be true. I guess he’s developed a new math. Will they be teaching that new math in his new education initiative, Race To The Top?
Floradora commented:
What’s really, really sad aside from this buffoon’s comments are the totally idiotic people that clapped and cheered this statement. Look at them in that image…Obama’s prop human backdrop scene we always see. They’re like robots actually believing the most insane statement in the world without nary a thought that it can’t possibly be rational. Oh God, please save our republic.
DocScience commented:
Math is not Obama’s strong suit.
He’s more into effective lying as a core ability.
Nahanni commented:
LOL!
This is yet another example of of why no one from the “reality-based community” should be allowed to be in any position of power. In fact we should build a fence around, mine the perimeter of and quarantine the “reality-based community” so none of those drool cupped morons can get out.
dallasdan commented:
BO is a lying POS. “What to do about it” you ask? That is a rhetorical question.
jorgen commented:
Now I understand his spending of trillions. He simply doesn’t understand big numbers.
If the premium decreases by 100%, the premium is $0. If the premium decreases by 3000%, the insurance company pays $29,000 to you per $1000 premium. Wow, we are all rich now! i am clapping and screaming now too!
Or should we be offended because Obama apparently thinks we are all stupid?
bill-tb commented:
And here I was believing unicorns were real … And the chocolate bars could continue coming out of the magic chocolate bar factory.
The simple facts are this health care bill will bankrupt our country.
I saw a film about Hugo Chavez’s Venezuela, it was about a clothing factory, they built the building, bought the sewing machines, hired the workers, which sat at the machines, and sat and sat and sat and sat, and are probably still siting. What was wrong with this magic factory?
bg commented:
++
bill-tb @ 4:27 pm #36
re: [The simple facts are this health
care bill will bankrupt our country.]
that is part & parcel of the final goal..
==
UpChuck.Liberals commented:
I think the DEA needs to do a sweep of the WH. This clown is definitely on Crack. Either that or he’s totally delusional.
JoeS commented:
“How many of you get your insurance through your workplace?”
I only saw a couple hands.
That is how Obama got elected!
“Free Medical Care!
Free Rent!
Free Food!
Free! Free! Free!
Good Jobs!!”
Who needs a job?
bg commented:
++
JoeS @ 9:00 pm #40
don’t worry, be happy..
==
Martha commented:
A reduction “by” is not the same as a reduction “of.” A reduction “by” means you divide (by), ie if an employer pays $10,000, a 3000% reduction is $10,000/ 3000% = $333. A reduction “of” would be $10,000 multiplied by 3000% giving you the crazy numbers, and that wouldn’t be a reduction! It would have been simpler if he had said employers may be paying up to 3% “of” their current cost. But then what sounds more profound, 3 or 3000? After-all it is politics.