Friday, September 27, 2013

Frustration, Strikes & Rate Hikes

Gary L. Bauer
American Values

As the House and Senate continue to fight over funding for Obamacare, there is more bad news about the law and its impact on jobs and our economy.

From New Jersey comes a story about Jeffrey Scheininger, president of Flexline/U.S. Brass & Copper Corporation. Scheininger is a former chairman of the New Jersey Chamber of Commerce, and according to The Star-Ledger, Scheininger "supported health care overhaul." For five years he led the New Jersey Chamber of Commerce's Health Care Reform Initiative. 

What is Scheininger saying about Obamacare now? "It's monumentally frustrating. The difference between the hope they held out versus what they delivered is phenomenal." Scheininger added, "They don't know what they are implementing. When push comes to shove, they don't know what it's going to do."

Scheininger's frustration is being echoed by other Obamacare supporters, including those in Big Labor. Members of the Service Employees International Union in Columbus, Ohio, have gone on strike protesting cuts caused by Obamacare, which of course the SEIU strongly supported.

Earlier this week, Barack Obama denied that there is any evidence that Obamacare is causing job losses. But some of his union allies disagree. Loretta Johnson, secretary-treasurer of the American Federation of Teachers, said, "We are seeing employer after employer cut hours so as to avoid [Obamacare's] 30-hour definition of a full-time job."

Obama may be blind to reality, but here's a list of more than 300 private companies and public institutions that have already cut jobs and/or hours in response to Obamacare's mandates.

Meanwhile, Obama and his allies were celebrating the news that average Obamacare premiums in the government-run state exchanges were coming in at around $330 a month for individuals. They were celebrating because those figures were "lower than expected."

Investor's Business Daily took a closer look at those rates and found that even with Obamacare's subsidies, many Americans will end up paying much more than they are now. Consider this example:

    "A table in that White House report, for example, shows the lowest-cost Bronze plan for a 27-year-old will average $163 a month in the 36 states with federally run exchanges. Among those making $25,000, the cost will be $93 a month, after subsidies.

    "Is that a bargain? Not when you compare it with the plans they can buy today. The average premium for the lowest-cost plan in these same states is $54 a month, according to data in a recent Government Accountability Report.

    "In other words, even with the taxpayer subsidies, ObamaCare will be more expensive than what's available in the market today."