Tuesday, June 26, 2012

Facts: Colossal Failure; Obamacare Hurts Economy

“Three years ago, President Obama chose to ram through his partisan, job-killing Obamacare legislation rather than focusing his full attention on the economy. The results of this decision are in – Obamacare will raise taxes on job creators, force jobs abroad, and hinder small-business hiring. On Day One, Mitt Romney will take immediate action to repeal and replace Obamacare with a plan that empowers individuals and frees job creators from the burdens this President has imposed on them.” –Andrea Saul, Romney Campaign Spokesperson

In 2009, President Obama Took His Focus Off Of The Economy And Focused Instead On Passing Obamacare:

In 2009, The Obama White House “Assumed A Recovery Was Under Way” And Decided Fixing The Economy Was “No Longer Their Top Priority.”
“Today, that brief period of optimism looks like one of the worst things that could have happened to the White House, other Democrats and, above all, the economy. The nascent recovery removed the urgency that the Obama administration and Democratic senators felt in early 2009. They still favored more action, like aid to states and tax cuts, but it was no longer their top priority. They assumed a recovery was under way. We now know, of course, that the recovery has stalled.” (David Leonhardt, “Job Losses Outweigh Administration’s Successes,” The New York Times, 10/26/10)

National Journal’s Charlie Cook: It Was A “Colossal Miscalculation” For President Obama To Shift Focus To Health Care Instead Of Focusing “Like A Laser Beam” On The Economy.
“But nearly a year after Obama's inauguration, judging by where the Democrats stand today, it's clear that they have made a colossal miscalculation. The latest unemployment and housing numbers underscore the folly of their decision to pay so much attention to health care and climate change instead of focusing on the economy ‘like a laser beam,’ as President Clinton pledged to do during his 1992 campaign.” (Charlie Cook, “Colossal Miscalculation On Health Care,” National Journal, 2/16/10)

The Results Of President Obama’s “Miscalculation” Are In – Obamacare Will Harm Job Creators With New Taxes And Shift Jobs Overseas:

Obamacare Could Force Businesses In The Medical Device Industry To Shift More Than 40,000 Jobs Overseas.
“The medical device industry says it could lose 10 percent of its U.S. workforce because of a tax created by healthcare reform. The Advanced Medical Technology Association (AdvaMed) released a report Wednesday that says device-makers might ship 43,000 jobs overseas once the tax takes effect in 2013.” (Sam Baker, “Device-Makers Say Tax Will Cost 43,000 US Jobs,” The Hill, 9/7/11)

“Diana Furchtgott-Roth, A Senior Fellow At The Hudson Institute, Said Device Firms Are Already Moving Their Operations To Other Countries And That The Trend Will Accelerate If The Device Tax Is Left In Place.” (Sam Baker, “Device-Makers Say Tax Will Cost 43,000 US Jobs,” The Hill, 9/7/11)

Nearly Three-Quarters Of Small-Business Owners Blame Obamacare For Impeding Job Creation. “As part of the explanation for the general economic pessimism, 78 percent of small businesses believe that taxation, regulation and legislation from Washington make it harder for businesses to hire more employees — and 74 percent blame the recent health care reforms passed by the Obama administration for creating an impediment to job creation.” (Tim Mak, “Chamber Poll: Small Biz Blames D.C.,” Politico, 1/18/12)

Obamacare Contained “The Largest Tax Increase Since 1993.”
“Keep in mind that Mr. Obama has already signed the largest tax increase since 1993. While everyone focuses on the Bush tax rates that expire after 2012, other tax increases are already set to hit the economy thanks to the 2010 Affordable Care Act.” (Editorial, “Taxes Upon Taxes Upon…,” The Wall Street Journal, 7/11/11)

The Nonpartisan Congressional Budget Office Estimated That Obamacare Will Raise Taxes By Hundreds Of Billions Of Dollars Over Its First 10 Years. (CBO Director Douglas W. Elmendorf, Testimony, U.S. House Of Representatives, 3/30/11)

And It’s Not Just Job Creators That Are Hurting – Americans Are Struggling With Higher Premiums And The Loss Of Employer-Provided Plans:

Obamacare Has Made Health Care “Less Affordable” And Has Caused “Insurance Premiums To Rise.”
"At the moment, the new law is making health care slightly less affordable. Independent health care experts say the law has caused some insurance premiums to rise. As we wrote in October, the new law has caused about a 1 percent to 3 percent increase in health insurance premiums for employer-sponsored family plans because of requirements for increased benefits. Last year's premium increases cast even more doubt on another promise the president has made - that the health care law would 'lower premiums by up to $2,500 for a typical family per year.'" (D'Angelo Gore, "Promises, Promises," FactCheck.org, 1/4/12)

According To The Nonpartisan Congressional Budget Office, Obamacare Could Cause As Many As 20 Million Americans To Lose Their Employer-Provided Coverage.
“A Congressional Budget Office report issued this week says that 3 million to 5 million people could move from employer-based health care plans to government-based programs as the Affordable Care Act takes effect. And in the worst-case scenario, it could be as many as 20 million.” (David Nather, “Health Care Reform: 4 Inconvenient Truths,” Politico, 3/16/12)

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