27 Oct 2016

Obama: Health Insurance Premiums Could Fall By 3000 Percent

Health Legislation, Humor 7 Comments

This happened years ago, but I missed it. Now this video is making the rounds for obvious reasons:

So it’s funny that critics are calling this a “lie,” when it’s so much more than that.

(I googled and apparently the White House said afterwards that Obama had misspoken, and meant to claim a $3,000 reduction in premiums.)

I often defend people who say dumb things on camera, claiming that until you’re in front of a crowd, you don’t realize how sometimes your brain can freeze up. But on this one, I have to say–unless it was a mistake in a teleprompter and he was reading it–that this is D-U-M dumb. Even if someone absentmindedly says a price could drop 3,000% without catching himself or raising an eyebrow, that shows a gross ignorance of math and/or business.

For years I have not fully bought into the standard right-winger talking points that Obama was an empty suit, but I think I may have overestimated him.

7 Responses to “Obama: Health Insurance Premiums Could Fall By 3000 Percent”

  1. Silas Barta says:

    A lot of people operate under the “convention” (to put it optimistically) that, if X is 3000% greater than Y, then y is 3000% less than X.

    I (obviously) don’t defend that usage, but it has some consistent logic to it.

    • Bob Murphy says:

      Silas right, like people saying the moon is 66% smaller than the Earth (or whatever).

    • Brian says:

      Financial advisor: Your initial $100,000 investment went up by 50%, but then went down by 50% from there.
      Client: Okay, I will just take my original $100,000 investment back.
      Advisor: Unfortunately, at our firm we use math. You have $75k left.
      Client: I prefer “consistent logic.”

  2. Andrew Keen says:

    Wow. Obama’s health insurance plan sounds a lot more lucrative than your IBC with whole life insurance, Bob.

  3. Khodge says:

    Algebra 101 for community activitists: Whatever number pops into your head is validity.

    • Dexter Morgan says:

      Al Khawarizmi would be horrified.

  4. Yancey Ward says:

    Well, Silas is correct. Obama is just lucky he isn’t a Republican, otherwise he would be the dumbest president in history.

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