The goal of Obamancare (Affordable Care Act), according to Wikipedia.org, is to increase the quality and affordability of health insurance, lower the uninsured rate by expanding public and private insurance coverage, and reduce the costs of healthcare for individuals and the government. (bold added)
Here is what Obamacare has done so far…
4.02 million Americans has had their insurance policy cancelled….
….while 106,185 people has enrolled. Net enrollment –3.9 million (hat tip Zero Hedge/Wall Street Journal)
Upon realizing this, President Obama backtracks and said “insurers can extend by one year those policies they had canceled for failing to meet the law's requirements” (WSJ)
And in response, the House of Representatives just passed a bill "to let insurance companies sell health plans that had previously been canceled due to ObamaCare regulations" (Fox).
Obamacare’s monumental failure serves as vindication of the great Austrian economist Friedrich August von Hayek who warned of the adverse effects from the Fatal Conceit of central planners:(bold added)
If we had deliberately built, or were consciously shaping, the structure of human action, we would merely have to ask individuals why they had interacted with any particular structure. Whereas, in fact, specialised students, even after generations of effort, find it exceedingly difficult to explain such matters, and cannot agree on what are the causes or what will be the effects of particular events. The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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