It has been two years since President Barack Obama, Senate Majority Leader Harry Reid, and former House Speaker Nancy Pelosi passed their health-care "reform" bill. At the time, the American people were told that the new law would create jobs and lower insurance premiums while allowing anyone who liked their current health plan to keep it. None of these promises has turned out to be true.
The nonpartisan Congressional Budget Office believes that the health care law will actually reduce job opportunities by some 800,000. The average family's premium for its employer provided coverage has continued to rise, and the Congressional Budget Office estimates that the new law will cause premiums on the individual market to rise by 13 percent.
In addition, studies indicate that many Americans will lose their current employer provided coverage and be forced to purchase health insurance through government-run exchanges. Oh, there's also this: the Congressional Budget Office recently estimated that the 10-year cost of the law (which was originally manipulated by budget gimmickry) has almost doubled, to $1.76 trillion.
And, finally, there is a shadowy presence in the room that gives people a chill on the back of the neck. The new law established the Independent Payment Advisory Board, or IPAB. Simply put, its purpose is to cut Medicare spending.
This 15-member committee of unelected and unaccountable bureaucrats essentially has one purpose -- to get doctors, pharmaceutical companies, and hospitals to cut their prices if somebody in authority decides too much money is being spent on health care. The members would be appointed by the president, subject to confirmation by the Senate.
Some worry that the remedy to control these health-care costs might be worse than the disease. Many people fear that sick people will be confronted by a bunch of cold-blooded bureaucrats who are deputized to tell them they're not entitled to the care they might need.
Thankfully, my colleagues and I in the House voted last week to repeal this piece of the health care law before it goes into effect.
It is time to dismantle this law -- while it's still just a terrible idea that hasn't hurt anybody.
At least not yet.