The Obama administration's crowing that the Affordable Care Act is a big success with 7 million sign-ups is horrendous considering how many Americans are now suffering because of it, Wall Street Journal senior economics writer Stephen Moore says.
"The horror stories that are out there of people who lost their insurance and people who thought they were insured, people with sick children who can't go to the hospital or the doctor anymore that they were used to," Moore told "The Steve Malzberg Show" on Newsmax TV.
"It's horrific, and they're doing their victory lap and dance – it's sad. Let [the Democrats] say they're going to run on this, and they'll lose in November."
Moore — founder and former president of the Club for Growth, and chief economist for the Heritage Foundation — said that far fewer than 7 million Americans have obtained insurance through the ACA.
"We are probably talking about, if the 6 million people lost their insurance, and maybe 3 or 4 million have gained insurance, I don't know, by my math, that's a decline in the number of people who have health insurance," he said Tuesday.
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Moore expects Republicans to pick up eight to 10 Senate seats as a result of opposition to President Barack Obama's signature healthcare law.
"Even if that happens, Democrats still won't change or repeal Obamacare because . . . this is their vision that they've had for 50 years, they'll go down with this ship," he said.
He said the job outlook in the United States is also dismal.
"Businesses aren’t investing, workers aren't consuming, and banks aren't lending," he said.
"When I talk to business men and women, why they are not re-investing . . . they are terrified of [when] the next shoe is going to drop from Washington.
"We've got tax increases, we've got Obamacare, we've got cash for clunkers. We've had 5 trillion dollars added to the debt. I mean, these are things that make businesses very nervous about expanding; they're extraordinarily risk-averse right now."
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