Posted on 08/30/2014 6:38:07 AM PDT by Kaslin
Millions of people are out of work and can’t find a job. Many of those who have jobs are being forced to work part-time instead of full-time. And those who have full-time jobs are in for a nasty surprise. Next year’s take home pay is like likely to be smaller than what they earn right now.
In all cases the reason is the same: Obamacare.
Why can’t people find a job? Three Federal Reserve Banks – in Philadelphia, New York and Atlanta – have released business surveys that confirm what many of us have been predicting. The new health law is discouraging a significant number of firms from hiring and is also pushing workers into part-time, rather than full time jobs.
The Federal Reserve Bank of Philadelphia survey of business in its region finds that because of Obamacare:
The New York Fed found that because of Obamacare:
An Atlanta Fed poll earlier this month found that 34% of businesses planned to hire more part-time workers than in the past, mostly because of a rise in the relative costs of their full-time colleagues.
As for the impact of Obamacare on health care costs, more than one third of manufacturers told the New York Fed that Obamacare is increasing costs “a lot” this year and more than half say the health law will increase costs a lot next year.
So what are employers doing about it? They are shifting more of the direct cost of employee health insurance to their workers. The New York survey found that because of Obamacare:
In a previous column I reported on academic studies of the degree to which Obamacare will cause people to work less and produce less:
University of Chicago economist Casey Mulligan estimates Obamacare lowers the return from working by 10%. As Harvard economics professor Greg Mankiw explains, that implies a long term loss to the economy on the order of 5% of GDP – or more than $800 billion a year at current prices. The indirect cost to the economy, then, equals more than $8,000 per household per year.
See more on this and other unfortunate developments at my post at Forbes.
Other than that, have a great Labor Day weekend.
All part of the plan by the rats.
Do you hear the GOP speaking up against it? [CRICKETS].
"At the foundation of our civil liberties lies
the principle that denies to government officials
an exceptional position before the law and which
subjects them to the same rules of conduct
that are commands to the citizen."
Justice Louis D. Brandeis
Chaos on all fronts?
With the current GOP leadership, OBAMACARE is here to stay.
29 1/2 Hour Work Week
50th Person Layoffs
Website Fraud - No Coverage!
Financial Fraud - No lowering of Premiums by $2500!
Abortion Coverage - When Promising Congressman Stupak it wouldn't be for the deciding vote!
Illegals Covered (no checks).
Triple the amount to implement it already
And we pay through the nose for it!
It sure is sweet of the people on the right to so desperately work to protect and cover the Democrats concerning Donkeycare.
Yeah, it was “Obamacare” in 1994 when the Clintons and Democrats tried to cram exactly this down the nation’s throats.
Good job conservatives——take care of the pushers of Democratcare. Let them skate on responsibility by having only Obama take the flak.
Socialist (no) HOPE and CHANGE (more than you bargained for)
Boy I bet the guys who bought that line are feeling like complete idiots about now
I find it with some considerable humor when the LIBs/DIMs suffer from their policies. Unfortunately, the price we pay is to also have to suffer. I hope the LIBs/DIMs are enjoying their sh** sandwiches.
“With the current GOP leadership, OBAMACARE is here to stay.”
The dirty little secret is the GOPe loves this.
Let’s not forget one of Hillary’s brilliant ideas was to pay medical schools NOT to train doctors. The idea was that if we had less doctors, people would not be able to see one, so medical costs would go down.
The entire system is set up that way. What was supposed to be a safety net Medicaid is now funneled to illegals instead of citizens.
It is hard to get on Medicaid if you are a citizen in many states. Even if you have stage 3 breast cancer and can’t work. I had to involve my DIL’s Indiana congressman to get her covered under Breast and Cervical Cancer. But that means my son can’t work over a set number of hours. He is a type 2 diabetic who Medicaid WON’T cover, out of his med, testing supplies, and can’t afford them on a PT job with no ins. At least the 12 yr old grandson is covered. She just finished her chemo. So maybe things will improve job wise soon. She will not be able to work her job again, and she has no other education qualifications. Nurses aide in a nursing home.
Obamacare has been a personal disaster - if my experience is typical then I can’t imagine why more people aren’t ready to kick some federal government arse.
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We’ll just keep on voting as before and expect entirely different outcomes.
Its by design - drive every one into Medicaid.
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