An Ugly Obamacare Anniversary

Chris marks Obamacare’s 15th anniversary, slamming Obama’s “50M insured” boast as a lie. Costs soared from $2K (2010) to $4,300 per household, care’s substandard, and doctors hate it—pushing us to socialized medicine. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
We got ourselves an ugly anniversary. Oh yeah, fifteen year
anniversary of Obamacare and the big man, Oh, theough bamster Obama.

Speaker 3 (00:26):
Yeah, he's all over social media. Oh thanks for me,
Thanks to me and the fact that I am the
smartest guy ever. Oh yeah, I got fifty million Americans
or got healthcare. Obamacare was awesome.

Speaker 2 (00:41):
Okay, everything everything that he told us about Obamacare was
a lie. We told you it was a lie. But
it's all the land now. A lot of the land
and conventional wisdom right now is basically saying, well, you know,
you can't take away, you can't take well again, there's

(01:04):
there's a lot of people out there getting subsidized, a
lot of people getting subsidized for substandard care here in
the United States. It's it's going to a toilet. Don't
take my word for it. You can take all my
client's word for it. I have plenty of physician, surgeon,
clients all over the disaster disaster to the point where

(01:30):
you know, how many people how many people know I
mean friends with close acquaintances with surgeons and doctors, how
many of them are recommending to their kids, to their
kids or people that they know to get in medicine.

(01:51):
I would take my experience everyone else.

Speaker 3 (01:58):
Asked.

Speaker 2 (01:59):
Very close friends warned, warn my kids up and down,
don't do it. Warn my kids up and down, don't
do it. It has changed the medical profession. Physicians have

(02:19):
lost their autonomy. It's been great for insurance companies. They're
killing it. Great for certain hospitals that are owned by
private equity companies and you know, be able to milk
as much money as they possibly can. You've got all
of this consolidation, these massive, massive groups, massive groups that

(02:45):
are working together again. It was I mentioned this on
the program. It was Jerry Lewis was the original Doctor Doolittle,
but Eddie Murphy. Eddie Murphy took up the role and
he and his vet group in the first one, we're
supposed to get bought out by a big company, and
he pushed back against it because he wanted to continue

(03:05):
to provide care to the animals there. He could talk
to the animals. But anyway, he neither here nor there.
We've got a more, much more expensive healthcare system. We've
got far less competition, it's lower quality, it's less efficient,

(03:25):
and it's on the road to socialized medicine. It's a path.
It's a path to socialized medicine. And again, I'm gonna
be honest with you. Socialized medicine is fricking awesome. If
you're healthy, if you are healthy, it's awesome. Okay, Oh,

(03:48):
ask all the Canadians. I'll tell you how awesome their
healthcare system is. They're all healthy, They're all healthy. Okay. Still,
to this day, the Canadians will come. They will cross
the border. As much as they may hate Trump, they
will cross the border into the United States to get MRIs.

(04:08):
Good luck up there, good luck anyway. Again, this is
the average annual expenditure for health insurance per household, per household.
I'm gonna go back to you know what, We're gonna
go back some time. I'm going to go back to
nineteen ninety four. It was around four one hundred dollars.

(04:35):
We're going to go. I'm gonna go right when the
Affordable Care Act was signed, into law. It was about
seventeen hundred dollars when it was enacted, it was about
two thousand dollars. Now it's more than doubled. It's up

(04:56):
almost close to forty three one hundred dollars. Again one
of Obama's signature statements. And again, have you have you
ever heard a single a single journalist so called journalist
asked the bamster you said that healthcare was going to
drop by twenty five hundred dollars for everyone. Did they

(05:21):
ever ever ever ask him that question? Because costs have
gone through now, I don't think so. Watchdog on Wall
Street dot com