Rep. Jim Moran (D-VA) says Obamacare can’t work because millennials aren’t signing up in enough numbers to pay for it. Moran, who announced his retirement after twelve terms, perhaps feels he can now speak his mind. He has a point. The vast bulk of those getting Obamacare get subsidies, which is assumed to be paid for by young people. What happens if they don’t sign up?
“I’m afraid that the millennials, if you will, are less likely to sign up. I think they feel more independent, I think they feel a little more invulnerable than prior generations. But I don’t think we’re going to get enough young people signing up to make this bill work as it was intended to financially. And, frankly, there’s some legitimacy to their concern because the government spends about $7 for the elderly for every $1 it spends on the young,” Moran said.