Friday, August 26, 2011

ObamaCare and New Regulations - Job Killers

The 4th quarter of the year is rating season for American companies buying medical insurance for their companies.   Once again, it is looking like medical premiums will go up 10 - 20%.   This is happening because of additional mandates in ObamaCare and because this monstrous legislation, enacted in the middle of the night, by President Obama and his Socialist pals in Congress did absolutely nothing to bend the cost curve.   With this round of rate increases, it will cost more than $20,000 to insure a family of four and that is with very high deductibles.   The fact is that there are very few industries left in the US with profit structures today that can sustain this level of employee benefits. 

This means that there will have to be more burden shifting to employees.   As that happens, there are many employees that will choose not to participate in company insurance plans because the co-pays will make it economically impossible.   In addition, if ObamaCare is not repealed, or ruled unconstitutional by the Supreme Court, in 2014, companies will have the option of paying a $2,000 fine for each US employee and ending all medical benefits.   McKinsey, the global consulting firm, did a study which indicated that 30% of US companies will just pay the fine.   If that happens, then employees will have the option of buying medical insurance through state pools, or paying a small fine.  As ObamaCare is currently constructed, Singles earning $50,000 or less and families earning $80,000 or less with get a federal government subsidy, which will bankrupt the United States.  Everyone else will be out of luck.   What family can afford to spend $20,000 or more a year on medical insurance.   Many will go without.

While there is very high unemployment within the US, federal government regulatory agencies have grown by 13%.   This is possible because Socialist President Obama has increased their budgets by 16%.  These new little Hitlers have increased regulations, already in the thousands, that impact American business by 25%.  It is now estimated that the impact of all these regulations on American business is about $11,000 per US job.   As a global business owner, I can personally attest to this nightmare.   In addition, the Environmental Protection Agency and the National Labor Relations Board, Obama's Gestapos, are busy killing American jobs by making it difficult, if not impossible for US companies to do business in our country. 

So what is the end result?   What Obamastistas do not understand, since they have never worked in the real world, is that global companies can move work anywhere in the world that is advantageous.  The cost of ObamaCare and all of these regulations will cause American companies to push more jobs overseas.   This is the reason why the Congressional Budget Office is projecting that unemployment in the US will remain high for years to come.   Obama has been the best President China and India has ever had. 

We have to take back our country in 2012 and 2014 by sweeping Obama and his Socialist pals in Congress out of office.   They are all job killers.   We will not see economic growth and job creation again in America until these characters are all gone.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   We have to get rid of Obama's Gestapos and all the little Hitlers in Washington DC that are destroying jobs.   ObamaCare and all the New Regulations are job killers.   Obama has to go!

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