We’re about a week away from two notable dates on America’s civic calendar. On November 1, open enrollment begins on Obamacare’s health insurance exchanges. One week later, voters head to the polls for the midterm elections.
Democrats have been aware of this reality for months. It was one of the reasons they made a mad dash to pass the dubiously named Inflation Reduction Act, which President Biden signed into law back in August. That law provides generous subsidies to people shopping for health insurance on the exchanges. Without it, consumers would’ve seen big premium spikes days before casting their ballots—not something Democrats running for Congress wanted.
Those subsidies will end up costing taxpayers billions of dollars—and do nothing to make the underlying cost of health coverage more affordable.