A report and a graph from the Heritage Foundation dramatize conclusively that the passage of the Obamacare Bill in March of 2010 virtually ground private job creation to a halt within a month. Prior to the April 2010, job creation averaged about 67,000 jobs per month, according to the Heritage report using figures from the Bureau of Labor Statistics. After 2010, job creation averaged a paltry 6,700 per month, and has not improved since. The passage of Obamacare reduced private job creation by 90 percent.
An example of the impact of Obamacare is Scott Womack, the owner of 12 International House of Pancake restaurants in Indiana and Ohio. Scott had development plans for new restaurants in Ohio which would have provided jobs . Now, he says those plans are on hold because of Obamacare.
Obamacare threw a wrench in economic expansion in three ways, according to Heritage:
1.) It provided incentive for small businesses under 50 workers to maintain this size, because that would allow them to avoid the Obamacare mandate to provide government-approved health coverage or face a penalty.
2.) If businesses had more than 50 workers, they would have to purchase more expensive government-approved insurance for their employees or pay a penalty.
3.) Businesses had no idea how much Obamacare would increase their healthcare insurance costs per employee.
President Obama has been blaming “bad luck” and the Republicans for the poor economy, when in the end it was the lack of his economic knowledge and leadership. From the start of 2009 on, Obama needed to lead the nation on economic recovery. Instead, he pushed through a porky stimulus bill as pay-back for his union friends and then, before anyone had a sense of how that well the stimulus would work out, he pulled out his left wing agenda wish list.
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