U.S. Supreme Court rules Obamacare taxpayer funded subsidies are constitutional

Yesterday, June 25, 2015, the U.S. Supreme Court ruled 6-3 that it is constitutional for the government to subsidize American’s health insurance premiums. The case was King et al. v. Burwell, Secretary of Health and Human Services, et al. where the Patient Protection and Affordable Care Act (ACA) was being challenged as being unconstitutional. More specifically the case surrounded as to whether the subsidies could be provided by the federal government to residents of states that did not set up health care exchanges.

The ACA (commonly referred to as Obamacare) forces the government and employers of certain employees to pay for American’s health insurance premiums paid to insurance companies. As expected, health care stocks went through the roof on the stock market yesterday as now hospitals and insurance companies are guaranteed a large number of additional customers paid for by the American taxpayers. Nearly 9 million Americans receive an average of $272 per month subsidy to pay for their health insurance premiums.

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Obamacare remains as unpopular as ever

Republicans want to repeal it, Democrats are running away from it, and the American people continue to hate it. A new Kaiser Family Foundation poll out yesterday found sentiment for the so-called Affordable Care Act (ACA) is largely unchanged since November. According to the poll 46% of Americans have an unfavorable opinion about the law, while 38% of Americans are in favor of the law. Sixteen percent of Americans are either undecided or refused to answer the question during the poll.

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CBO: Obamacare to have negligible effect in number of uninsured

Yesterday, President Barack Obama made a rousing speech in the White House Rose Garden late yesterday, April 1, 2014, touting the resounding success of the Affordable Care Act a/k/a Obamacare. He said, “…despite several lost weeks out of the gate because of problems with the website, 7.1 million Americans have now signed up for private insurance plans through these marketplaces — 7.1.” Then later in the speech he said, “All told, because of this law, millions of our fellow citizens know the economic security of health insurance who didn’t just a few years ago — and that’s something to be proud of.”

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