First, Obama promised on numerous occasions that the average family of four will save $2,500 a year in premiums. Where did that number come from? Three Harvard economists wrote a memo in 2007 in which they claimed that then-Senator Obama’s health-care plan would reduce national health-care spending by $200 billion. Then, according to the New York Times, the authors “divided [$200 billion] by the country’s population, multiplied for a family of four, and rounded down slightly to a number that was easy to grasp: $2,500.”
In September, the Obama administration’s Centers for Medicare and Medicaid Services used far more rigorous methods to predict that Obamacare would increase national health-care spending by $621 billion. Using Obama’s own math, that would mean — according to Chris Conover, an economist at the American Enterprise Institute and Duke University — each family of four in America will spend an additional $7,450 thanks to Obamacare.
Of course, that methodology is still bogus. But it’s probably closer to the truth.