Economist Puts Obamacare 'Fantasy' to the Test

The U.S. Supreme Court will soon rule on one aspect of President Barack Obama's healthcare law: whether subsidies offered to millions of Americans are legal.

If not, 6 million people could lose their tax credits to buy health insurance.

"If the court were to rule that the administration's interpretation was wrong, then there would be 34 states where people would no longer be able to get these tax credits for buying coverage on the exchange," Ed Haislmaeir with the Heritage Foundation, said.

*Stephen Moore talked more about the shortcomings of the Affordable Care Act on The 700 Club. Click play to watch. 

That means the cost of health insurance could rise again. Depending on your state, monthly premiums could jump by hundreds of dollars.

But even if Obamacare is allowed to stand, the Wall Street Journal warns of major consequences for the healthcare industry, including the potential creation of one massive healthcare system run by the government.

In an editorial entitled "Obamacare's Oligopoly Wave," the paper says America's five largest health insurers are thinking about consolidating into "one monster conglomerate," creating "oligopolies, with the predictable results of higher costs, lower quality, and less innovation."

"This is just one more example of a law that has all sorts of unintended consequences and adverse effects for all sorts of people," Haislmaeir said.

In an interview with CBN's Efrem Graham, economist Stephen Moore shared more about how Obamacare has run off the rails. Watch below:

Meanwhile Stephen Moore, chief economist with the Heritage Foundation, says the notion that Obamacare is working is a "fantasy."

"Make no mistake. The new health law has disrupted coverage for millions, and driven up costs for millions more," he wrote in a June 12 Forbes op-ed.

Moore says that if the court strikes down the subsidy, Republicans need to prove to voters they can provide better quality of care -- with more choices and to more Americans -- in a way that doesn't bankrupt the country.

Given the fiasco of Obamacare, Moore says that shouldn't be hard.