Obama: “Premiums will drop 3,000% with Obamacare”

President Obama today, in his infinite wisdom, stated explicitly that his health care reform plan would drop the amount paid by your employer in health care premiums by 3,000%. That’s three-thousand percent. Simply doing the math here explains how there might be a minor issue with that statement considering that dropping premiums 100% would eliminate them altogether. One wonders how ObamaCare would yield a 3,000% drop for employers.

Video of Obama’s lofty promise including ill-informed fools clapping for it:

More from American Thinker:

When House Speaker Pelosi said that ObamaCare will allow Americans to realize their dream of being an artist, photographer, or writer without having to work a day job to have health insurance, some of us wondered whether ObamaCare also will cover other expenses, such as for housing and food, that force people to work a job they may not like while they pursue their dreams. Now we know the answer: yes it will.

Monday in Strongsville, Ohio, President Obama said that ObamaCare will reduce health insurance premiums by “3,000 percent.” Considering that a 50 percent decrease in premiums would mean that we’d be paying half as much as we now pay for health insurance and that a 100 percent decrease in premiums would mean that we’d be paying nothing for health insurance, President Obama is telling us that insurance companies will actually start paying us money to keep our health insurance.

If your current health insurance policy costs $5,000 a year, insurance companies will pay you $145,000 a year (2,900 percent multiplied by $5,000). If you’re fortunate enough to be paying $25,000 a year for health insurance, insurance companies will pay you $725,000 a year. There’s no word whether you can purchase a more expensive health insurance policy to increase the amount of money that insurers pay you each year.

Just think, America: These are the people telling us that they know best how to run 1/6 of our economy.

This will be a fascinating aspect of ObamaCare which I’m looking forward to hearing more about. Obama will drive down premiums so low that insurance companies will actually begin paying employers. What stuns me is that the people clapped for it, they just took it at face value and digested it as if it was backed up by simple math.

Imagine if President Bush or Gov. Sarah Palin had made such a statement? The liberals in the mainstream media would get the permissions slips signed and leave for a week long field trip immediately.