Obama’s New Sales Pitch: ‘No Serious Evidence ObamaCare Will Hurt The Economy’
Besides the fact that most Americans do not like, nor want, ObamaCare, our Snake Oil Salesman-In-Chief continues to sell it to us. Today, Obama’s new sales pitch is that there’s “no serious evidence it will hurt the economy”. Clearly, Obama doesn’t understand economics.
According to Real Clear Politics,
PRESIDENT OBAMA: … in two weeks, the Affordable Care Act is going to help millions of more people. And there’s no serious evidence that the law, which has helped to keep down the rise in health care costs to their lowest level in 50 years, is holding back economic growth.
From The Heritage Foundation,
As employers and businesses prepare for Obamacare’s sweeping changes and mandates to begin in 2014, many are already laying off some of their employees. An event at Heritagetoday will discuss the burdens of the law both for small businesses’ ability to hire and grow and individuals’ ability to find jobs. Here are 10 examples of job loss due in whole or part to Obamacare and its consequences:
Medical Device Tax
- 1,000 jobs lost: “Stryker Corporation Confirms Obamacare Layoffs.”
- 275 jobs lost: “Medical Device Tax Blamed for Welch Allyn Layoffs.”
- 100 jobs lost: “Latest Obamacare Casualty: 100 Workers at Smith and Nephew.”
The 2.3 percent excise tax on the sale of medical devices, one of the 18 tax hikes in Obamacare, is estimated to cost the industry over $29 billion between 2013 and 2022. Many employers in the industry are compensating for the tax hike by reducing their labor costs.
Medicare Payment Cuts
- 950 jobs lost: “Wake Forest Baptist Medical Center Reengineers Cost Structure, Eliminate Positions.”
- Up to 400 jobs lost: “Orlando Health to Cut Record Number of Jobs to Save Money.”
- 52 Jobs lost: “Delaware Hospice Lays Off 52 Workers amid Federal Changes.”
- 58 jobs lost: “Hospital Layoffs and the Affordable Hea[l]th Care Act.”
Obamacare reduces Medicare spending by $716 billion from 2013 to 2022, with a majority of the payment reductions hitting Medicare Part A providers, which includes hospitals, hospices, skilled nursing facilities, and nursing homes. As these providers are trying to do more with less federal reimbursement, they are laying off their employees to cut down costs.
If Obamacare’s rates remain law, the Medicare trustees predict, “the lower Medicare payment rates would result in negative total facility margins for an estimated 15 percent of hospitals, skilled nursing facilities, and home health agencies by 2019, and this percentage would reach roughly 25 percent in 2030 and 40 percent by 2050.” The payment cuts are simply not sustainable.
- At least 7,386 full-time jobs turned part-time: “State Grapples with Insurance Rules for Part-Time Workers.”
- 400 full-time jobs turned part-time: “Health Care Law Brings Double Dose of Trouble for CCAC Part-Time Profs.”
- 300 full-time jobs turned part-time: “Wendy’s Franchisee Slashes Employee Hours to Sidestep Obamacare.”
Obamacare’s employer mandate forces all employers with more than 50 full-time employees, defined as those who work at least 30 hours per week, to provide health insurance for employees or pay a $2,000 penalty for each employee after the first 30 workers. This creates an incentive for businesses to avoid both the penalty and cost of coverage by hiring part-time employees instead of full-time employees, since businesses will not be penalized for failing to provide health insurance to part-time employees. This affects a wide range of American workers, from restaurant employees and college adjunct professors to state government workers.
Obama should ask all the Americans losing their jobs…because of ObamaCare…if they think it’s “serious”.
Freedom Works lists more,
The Obamacare graveyard can effectively be broken down into three main areas. A section where jobs are killed, a section where hours are killed, and a section where coverage is killed.
That said, welcome to the graveyard…
Welch Allyn, a company that manufactures medical diagnostic equipment in central New York, laid off 275 employees this year, and planned on dropping roughly 10% of their workforce over the next three years.
“Health care reform mandates” are to blame for up to 400 jobs being dropped at Orlando Health.
One of the biggest medical device manufacturers in the world, Stryker confirmed 1,000 jobs were lost due to Obamacare.
Wake Forest Baptist Medical Center cited “the challenges of health care reform” while announcing the elimination of 950 jobs.
The medical device tax also claimed positions at Boston Scientific. The company first announced in 2011 that they would be cutting between 1,200 and 1,400 positions. Then in January of this year, they announced further layoffs for up to 1,000 employees.
Smith & Nephew, a global medical technology firm, dropped 100 employees.
A Blue Cross/Blue Shield health insurance office was closed, resulting in another 100 or so employees hitting the unemployment lines. The reason? Complexities in federal regulations and mandates implemented by Obamacare.
In March of 2010, medical device maker Medtronic warned that Obamacare taxes could result in a reduction of precisely 1,000 jobs. That plan became reality when the company cut 500 positions, and scheduled another 500 by the end of the fourth quarter in 2013.
Reading Hospital announced layoffs for 210 workers, and the elimination of another 181 jobs through attrition, citing federal health care reform requirements.
Abbott Laboratories announced a series of layoffs that would result in approximately 1,900 people being out of work. The company cited “U.S. health-care reform and the challenging regulatory environment” as a reason for the job cuts, then proceeded to donate money to politicians wanting to change Obamacare.
Public employees in Virginia fell victim to Obamacare’s rules for part-time workers. A minimum of 7,380 jobs were converted to less than 30 hours per week.
The nation’s largest movie theater chain, Regal Entertainment, reduced the workweek for thousands of their employees.
Kroger, a grocery store chain, reduced the hours of their staff.
Taco Bell slashed employee hours.
An executive from White Castle pondered only hiring part-time workers in the future.
Subway chains, and Carl’s Jr. stores reduced positions to part-time.
Clothing retail chain, Forever 21, conducted staffing audits which resulted in non-management positions being reduced to 29.5 hours weekly. Forever 21 has over 27,000 employees.
400 employees at the Community College of Allegheny County saw their hours reduced.
The Wall Street Journal reported that numerous universities were scaling back the number of hours worked per week by their adjunct professors, in an attempt to avoid the new Obamacare requirements.
Hours for over 100 people in the Fort Wayne Community School District in Indiana have been reduced, including substitutes and support staff.
Phone operators in Affordable Care Act call centers noted the irony in “working for a call center and trying to help people get health care” but only at a part-time rate … in order to avoid having to provide health insurance.
Repeatedly blaming Obamacare in a staff memo, UPS announced that 15,000 employee spouses are being dropped from their health insurance coverage.
Erick Erikson reported via Twitter that he had obtained an internal memo from Delta Airlines. The memo stated that the company would have to totally revamp their health care plans, and had toeliminate a plan developed specifically for pilots due to it violating the Cadillac tax.
The University of Virginia is dropping coverage for spouses due to federal health reform costs and penalties.
The owner of Professional Finance Company indicated that he may have to drop coverage for hisemployee’s families. The company employs 170 people.
Health insurance coverage is being reduced for school districts in Pennsylvania.
The United Methodist Church recently announced that “clergy and lay employees” would be losing their coverage.
Wegman’s, who had previously provided coverage for employees that worked 20 or more hours, announced they were no longer offering health insurance to part-time workers thanks to ObamaCare.
Obama is either willfully blind or he’s lying to the American people.