Obamacare Has Screwed Up The American Economy – Dave Ramsey Rant



well I I told you guys Oh a while back months and months and months ago when it was launched that Obamacare was communism and I explained exactly why and how it worked and how the economics around that worked and how big a disaster it was going to be I just got some data in that will blow your mind Obama to say that Obamacare is an unmitigated economic disaster is an understatement and here's what's sad you're not going to hear this anywhere else you're not even going to hear the conservatives reporting on this for some reason or another I guess they're too busy worrying about Trump and Hillary but I tried to explain to you how insurance works and that when the cost to cover someone a group of people goes up that insurance companies have one choice well two choices one go out of business to raise their prices and that Obama the people that put Obamacare together either had one of two agendas either they were absolute economic morons which there's a real possibility of that or they fully intended to destroy the health insurance industry and completely put them out of business so that the government would be the only provider of health insurance now I don't know whether they are have that much malice and that much of an intention toward socialism or whether they're just stupid I neither choice is good but that's really your only two options let me explain to you what's happening okay we told you that because of Obamacare that health insurance rates were going to go through the roof didn't we didn't we I told you that if you've been listening to me I've told you this over and over and over again well the first piece of data I got was from my state and my state's just in negative of the other states and no reason I got this data is because what it's doing to our health insurance plan Obamacare has cost my tiny low company millions with an S of dollars already in increased healthcare cost health insurance cost now when a little company like mine that has 600 team members is cost millions of dollars that's if there's a real simple effect to that that's money I don't have to hire people with because it's going to stupidity it's real simple and so you want to slow down job growth you know you suck money out of the economy with a vacuum cleaner called socialism on some kind of trash like this now that's not just an opinion it's an actual fact it's occurred with my company has occurred with thousands tens of thousands of companies just like mine all over America but now get ready it's not over BlueCross BlueShield in the state of tennessee is the largest insurer they just pulled out of the exchange they can't make the numbers work in the exchange and they are announcing today a 62 percent increase in premiums for next year 62 percent increase in premiums for next year Oh Cigna they had forecasted a 23% increase they just came out today a 46% increase in premiums Humana had forecasted that a 29% increase they came out today forty four point three percent increase in premiums if your blue jeans all went up if a gallon of milk a gallon of gas all went up sixty two and forty four percent you people would be storming Washington with pitchforks and torches but you know what Americans are going to stand back and look at this and yawn because it's coming they're companies and it's coming through the group plans and they get the bill and they're just like oh my god my health insurance went up what am I going to do I can't afford my health insurance and it's all because of Obamacare it's because socialism does not work it's a very simple economic formula I mean there's really this I mean a 6th grader could walk you through this but these morons and the White House can't figure it out well let me tell you when you when you take an industry and you basically double the costs that it charges to the consumer and the entire industry does it so it's not like you can go get a gallon of milk from somebody else gallon of milk just doubled gallon of gas just doubled the cost to put tires on your car just doubled you walk that you think Macy's and JC Penney's would stay open if they doubled all their prices what's that's going to do to the economy 1/7 of the US economy is health care 1/7 and it just went up 62 and 44 percent and this state is indicative of what's happening in every other state it's not like Tennessee's pregnant got a different issue than everybody else this crap is coming down from Washington DC and this is the effect of Washington taking control of an entire industry and screwing it up and no I got to tell you nobody's going to gripe about it you're not going to hear anybody else fired up about this like I am you're not going to hear somebody it's not going to be the promise you it's not the lead story on the news tonight I'm a hundred percent sure CBS NBC and ABC will give this zero coverage zero and one seventh of our economy just doubled and expense to your back pocket and let me help you with this if a company makes blue jeans or milk and they have employees their costs to do business just went up dramatically do you think that that's not going to be passed on to you and higher prices if you don't think prices are going up across the on every product and service in America as a result of this debacle you're not smart Oh it'll be gradual and it'll be incremental and that's how you boil a frog you turn it up slowly and a bunch of you frogs aren't paying enough attention and you're getting boiled and you're standing around going Obama is a great president he's going to go down as the worst president in the history of the United States this is an astronomical economic failure this is absolute I've never seen anything like this in my lifetime where an industry just casually announces a 62 and a 44 and a 43% increase 46% increase in costs and they're one of the largest industries in the entire United States big segment of our economy just changed it's going to happen real quietly it's not it's not a conspiracy it's just people don't know what to get pissed off about they're more worried about whether Hillary's wearing diapers than this jeez this is the Dave Ramsey show hey guys thanks for watching if you enjoyed this video click the subscribe button to get the latest content and check out these other great clips from the show you can do this you know that really is a message whether you've got two hundred seventy thousand dollars in student loan debt or 27 thousand well you've got a fifty thousand dollar income a $500,000 income you

27 comments

  1. What Dave does not mention is since his company has 600 employees, it has the right to be self-insured. That can significantly reduce costs versus paying health insurance carriers premiums. I could be wrong, but there is a strong likelihood his company's health care costs did not go up astronomically. Also, I am self-employed, have an individual off-exchange plan that historically increases around 25% per year, except for 2019 that was a 11% increase.

  2. Stick to personal finance and wealth management. Why does Romneycare still work but Obamacare is a bust? It’s not the model.

  3. The people exclaiming Obamacare is wonderful are the people on private insurance and weren't forced to be on Obamacare. Our premiums went from $900 a month to $2200 per month.Deductible from $3000 to $6000. All copays went up too. In a year. A medication my husband has to have went from $150 per month to $1000 per month and all pharmacies have raised their prices equally, Cannot shop for the best price. We had to be subsidized by the american tax payer to be able to afford the drug. we are no longer subsidized to be able to get that specific drug but go to a pharmacy in canada and by- pass the insurance company and get the medication for $50 per month. The canadian company orders it from india. So far the medications quality is ok.

    And we lost all of our doctors. We were not able to keep one doctor(we had all drs for 15-20 years). And trying to find a Dr. who takes Obamacare…is a whole other story.

  4. What would you propose I do. I vote for my representation, and they do nothing to correct this problem. Pitch forks on Washington?

  5. Not a word about people not able to even obtain insurance when they have a pre-existing condition if the affordable care act was not in existence…

  6. So how Canada and and Europe giving there citizen health insurance. And usa it is privilege and u think this large corporation can deny coverage for a person because of there health condition.
    I am not agree with u Dave.
    My parents have to low income self-employed and can effort ur corporate health insurance but Obamacare save them.

  7. It`s interesting that there is a substantial amount of dislikes on this video yet there are no comments by the people who disliked it explaining why Dave is wrong.

  8. I'm Italian and I am about to graduate from medical school in less than a year; I would like to give an "outsider" perspective to the healthcare situation in America.
    I've been following Dave for a couple of years, and I've been always agreeing with his advice; this is honestly the only time I don't agree with him: if Obamacare is communism then it means that all the other OECD nations which ALL provide universal healthcare to their citizens are like the USSR in the Cold War.
    Of course we pay taxes to fund our National Healthcare Service, but guess what, the US spends the same amount of public dollars in healthcare as Italy or the average OECD country does. That means that you pay for healthcare in taxes roughly the same price that all the other developed countries do and you don't get universal healthcare. If you count public and private spending the US spends DOUBLE the amount of its GDP on healthcare compared to its sister developed nations. That's because the US has a healthcare cost crisis, a problem that Obamacare doesn't solve yet (in this sense, I agree with Dave, the law is flawed): every single cost is inflated up to absurd proportions (an appendectomy in the US cost 10 times than in Germany).
    Doctors of course make less money in Europe, but they don't have to repay half a million dollars in student loans after they graduate. Pharmaceutical and medical devices company also make less money in Europe, because States have more negotiating power to lower prices compared to single insurance companies. Hospitals are public, and private hospitals are regulated: if they want to work with the public system, they have to be vetted and they receive the same compensation from the state as public hospitals.
    You are free to choose your doctor and be treated privately if you want: you will pay something, but nothing compared to the madness of American healthcare costs.
    The problem in America, in my opinion, is that healthcare is treated like any other commodity, which you can buy or sell in the free market. The free market is great when you're shopping for a car or for a TV: you can compare models and prices and make the best decision for you, even decide not to buy one at all; on the other hand, when you're sick you're not in the position to negotiate, and you cannot be victim of a for-profit institution which can charge whatever it wants for your care. And without oversight, it will continue to charge as much as it can, 'cause you cannot put a price on life.

  9. Most people don't realize Obamacare caused premiums to increase dramatically the day it was signed , not the day they started offering plans. This is because it was full of mandates that added greater costs to insurers. My premium went from $240- $556 in the first two years . In 2013 it rose to $848 and in 2015 to $1100 and I quit buying it. The coverage dropped as well with skyrocketing deductibles. Millions of small business employees lost their coverage. The people who benefited were mostly never going to sign up for insurance unless it was "Free" to them or others paid a small premium and cancel after they milk the system The end game was working people lost their insurance so others could exploit the system . It is the biggest disaster ever created by government in U.S. history.

  10. If only we'd of listened to our healthcare providers such as doctors and nurses instead of to politicians because ever single person in the medical field that I know said Obamacare wasn't going to work.

  11. For people with pre-existing conditions, just pay the full cost of the care or you should take care of your health better by eating right and exercising so you won't be a money nuisance on society.

  12. I’ve been saying the same thing and all I get is crickets. If the media doesn’t say It people don’t believe it

  13. Health costs have been skyrocketing for decades. Socialism would be free healthcare, so I am not quite sure why you are calling it socialism. If we are all paying more money then that would be the opposite of socialism. what we got is corporatism, where the majority of our healthcare costs go to stockholders. Just like the banking system and debt, all for stockholders. Just like products, money for the stockholders.

  14. The law was designed to do this, it was meant to do this and make the cost untenable to make it easier to overhaul and put more oversight onto the entire healthcare industry

  15. For some reason I can’t understand how come the richest country on earth by miiiiiles can’t provide to its citizens affordable healthcare. Exemple MRI with no insurance $1500! In a third world country same MRI no insurance $120! Why?!!!
    All developed country have universal healthcare except the US of A! Very strange. So I guess all of them are commies. 😣🤭

  16. All Dave is saying is that Obamacare didnt go far enough. Enact Medicare for all, and no more insurance premiums. Because there are more people in the US than in any particular insurance company, taxes will go up, but not by as much as premiums. Then people will have their leftover premium money to spend.

  17. In point of fact, the basic outline of the affordable care act was created by a conservative think tank called the Heratige Foundation in the 1970's, and was introduced to Congress by Republican Bob Dole as a conservative alternative to more left leaning universal health care plans being floated by the Democrats

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