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Tag Archives: Obamanomics


Business Owner Says Obamacare Prevented New Hiring as Health Care Costs Increased 51 Percent

by Ali Meyer • Washington Free Beacon

A business owner told lawmakers on Tuesday that Obamacare has prevented new hiring because health care costs at his company increased by 51 percent.

Thomas Secor, president of Durable Corporation, a small manufacturing company that employs 37 individuals, testified at the House Small Business Committee hearing that the Affordable Care Act has made providing health care coverage for workers more difficult.

“Health care is certainly one of the most vexing problems facing small businesses. The enormous costs and ongoing uncertainty surrounding our health insurance system is a major cause for concern,” Secor said. “As a business operator, I am deeply troubled by the ongoing difficulties our health care system creates for my fellow small-business owners and their employees, and by the fact that the most recent national effort to reform the health care system has done very little to address the costs we, as small-business owners, face.” Continue reading


Manufacturing CEO Says Obamacare Costs Negatively Impacted Jobs, Investment, Product Development

by Ali Meyer • Washington Free Beacon

A manufacturing CEO told lawmakers on Wednesday that costs imposed by the Affordable Care Act had negatively impacted his company’s ability to hire new workers, make capital investments, and develop new products.

Joe Eddy, president and CEO of Eagle Manufacturing Company, testified before the House Committee on Education and the Workforce on behalf of the National Association of Manufacturers, a trade association that represents more than 12 million Americans.

“Manufacturers appreciate your attention to the burdens of the Affordable Care Act that are impacting the competitiveness and growth of manufacturers around the nation,” Eddy said. Continue reading


From debt to jobs, Obama failed to deliver

by Justin Haskins • Philly Inquirer

Shortly after being sworn into office in January 2009, President Obama, along with Democrats in Congress, spent trillions of dollars on government bailouts, stimulus packages, and various social welfare programs – all passed with the promise they would reverse one of the most significant economic crashes the country has experienced.

After nearly eight years in office, though, Obama has failed to deliver on many of his campaign promises and has left America worse-off than it was when he entered the White House.

During the Obama administration, there hasn’t been a single year in which the nation’s gross domestic product grew at 3 percent or higher, according to the nonpartisan Congressional Research Service. That’s a first for a modern president. Continue reading


For Me, Obamacare Means Paying All Your Own Bills And Never Getting The Doctor You Need

By M.G. Oprea • The Federalist

It’s that time of year. No, not New Years. It’s Obamacare enrollment time—that is, if you’re unfortunate enough to not have employer-sponsored health insurance.

There’s been a lot of media coverage lately about rising premiums. But the headache isn’t just financial, although that’s certainly part of it. With more insurance providers fleeing the individual market and coverage becoming worse and worse, getting the care you need can feel almost impossible.

To illustrate, I’d like to share my own experience buying insurance on the Obamacare exchange and trying to get treated for a chronic health problem. Continue reading


Record-High Health Care Spending Hits $3.2 Trillion in 2015

by Ali Meyer • Washington Free Beacon

Health care spending in the United States grew 5.8 percent in 2015, hitting a record high of $3.2 trillion, according to the latest estimates from the Centers for Medicare and Medicaid Services.

Last year, health care spending in the United States totaled $3 trillion—or $9,523 a person. This year, per-person expenditures went up to $9,990.

“The faster growth in 2014 and 2015 occurred as the Affordable Care Act expanded health insurance coverage for individuals through Marketplace health insurance plans and the Medicaid program,” the report said.

The federal government is the biggest driver of health care spending and in 2015, 29 percent of the nation’s health care bill was due to the feds. Continue reading


Another Obama Admin Labor Rule in Jeopardy

by Bill McMorris • Washington Free Beacon

A federal judge in Texas could strike down another of the Obama administration’s most controversial labor rules.

Judge Amos L. Mazzant from the Eastern District of Texas will rule Tuesday on the Department of Labor’s new overtime regulations. Those regulations would force employers to pay overtime to any white collar worker making less than $913 per week–about $47,000 per year—double the previous threshold of $455. The rule also includes an escalator provision that automatically raises the threshold every three years, similar to how some minimum wage provisions are designed to adjust for inflation.

More than 20 states and dozens of companies and industry trade groups have filed suit to block the regulations from taking effect. Continue reading


Expert: Obama Administration Could Bail Out Obamacare Insurers

by Ali Meyer • Washington Free Beacon

The Obama administration could bail out Obamacare insurers through its risk-corridor program, according to an expert from the Mercatus Center.

The risk-corridor program was designed to constrain risk for health insurers who had uncertainty in pricing premiums for new plans they offered through Obamacare. The program was established and administered in years 2014, 2015, and 2016 and transferred funds from profitable insurers to insurers with losses.

In 2014, the risk-corridor program experienced a shortfall of more than $2.5 billion. Poorly performing insurers requested $2.87 billion in that year, while profitable insurers could only make up about $362 million, leaving a deficit of about $2.5 billion. Continue reading


Audit: Obamacare Enrollees Had Trouble Affording and Accessing Care

by Ali Meyer • Washington Free Beacon

Obamacare enrollees had trouble affording and accessing health care as well as understanding how to use their plans, according to a report from the Government Accountability Office.

The top factors that Obamacare enrollees considered when selecting a plan in 2015 were the cost of premiums, deductibles, and copayments.

The auditors talked to stakeholders including policy experts, state departments of insurance, and exchange officials, and found that some Obamacare enrollees said the out-of-pocket expenses were too expensive before reaching their deductible. Continue reading


Obamacare is unsustainable — the backbone could collapse, expert warns

by Abigail Stevenson • CNBC

If politicians don’t fix the Affordable Care Act, then the vulnerable Blue Cross and local HMO plans — which serve as the backbone of Obamacare — must exit, said Robert Laszewski, the President of Health Policy and Strategy Associates.

“What the politicians need to do is to understand they have got about a year to fix this,” he said in an interview with CNBC’s “Closing Bell.”

Republicans do not want to fix the existing flaws for Obamacare, Laszewski said. Instead, they want to repeal and replace it. He added that Democrats are now stating that they would rather go to a single-payer insurance plan or a public option within a government-run plan. Continue reading


Taxes Now Eat Up Larger Share of Income Than When Obama Took Office

After-tax income has declined for some demographic groups since 2009

by Ali Meyer     •     Washington Free Beacon

Taxes are consuming a larger share of household income now than before President Obama took office, according to data from the Congressional Budget Office.

The CBO uses a comprehensive measure of income, referred to as average household market income, that includes labor income, business income, capital income, capital gains, and retirement income. It combines this with government transfers to calculate before-tax income.

The budget office then subtracts individual income taxes, payroll or social insurance taxes, corporate income taxes and excise taxes to calculate average after-tax income. Continue reading


How Obama’s Overtime Rules Will Hurt Disabled Children

By Eric Peterson      •     The Federalist

Last month, when President Obama’s Department of Labor released its long-awaited “overtime rule,” the mainstream media headlines were predictable: “Obama administration announces final overtime rule boosting pay for millions,” said the Los Angeles Times. “New overtime rules a boon for middle class workers,” added Newsweek. With claims from the Obama camp that the new mandate will boost pay by $12 billion over the next decade, the majority of the coverage has been overwhelmingly positive.

But here are a few headlines we might have seen if media outlets made an honest assessment of the rule: “Overtime rule to cause more than 4,000 cleft lip surgeries to not be performed for children in need”; “At-risk youth could see fewer programs because of costly DOL rule”; “Domestic abuse nonprofit faces cuts because of Obama’s overtime rule.”

Those may not have been headlines atop major newspapers, but they are real concerns nonprofit organizations submitted to the Department of Labor while the overtime rule was undergoing consideration over the past year. Continue reading


The number of new businesses in the US is falling off a cliff

By Michael J. Coren     •     Quartz

We’re supposedly living in the age of startups when people can create new businesses, enrich themselves, and employ their fellow Americans. That narrative, like much economic optimism these days, is now mostly a tale for coastal cities, and a tenuous one at best.

Fewer new businesses were created in the last five years in the US than any period since at least 1980, according to a new analysis (pdf) by the Economic Innovation Group (EIG), a bipartisan advocacy group founded by the Silicon Valley entrepreneur Sean Parker and others. Businesses that did form are also far more concentrated than ever before: just 20 counties accounted for half of the country’s total new businesses. All of them were in large metro areas.


Are Liberals Bailing On ObamaCare, Too?

Investor’s Business Daily

obamacare tire mud“I am not the first president to take up this cause, but I am determined to be the last.” That was President Obama in a speech before Congress back in Sept. 2009, pitching the health reform plan he’d sign six months later.

It doesn’t look like he’s going to get his wish.

In the three-plus years since the ObamaCare exchanges opened, the law is teetering on the edge of the abyss. Enrollment is well below expectations, not enough young people are signing up, insurers are failing or dropping out of the program, and, by all appearances, premiums are set to spike even higher than last year.

Now a Kaiser Family Foundation survey released late last week shows that the public is far from satisfied with what Obama claimed was the be-all and end-all of reform. Continue reading


Obama: The Lamest Duck

by Victor Davis Hanson     •     PJ Media

Obama SmirkPresident Obama is boxed in a state of paralysis—more so than typical lame-duck presidents.

His hard-left politics have insidiously eroded the Democratic Party, which has lost both houses of Congress and the vast majority of the state legislatures, state elected offices, and governorships. Obama has redefined the black vote, as a necessary, no-margin-of-error 95% bloc majority to offset his similar creation of an increasingly monolithic 65% bloc white vote. We are no longer individual voters, but, in Chicago-politics style, merely faceless “Latinos,” “Asians,” “African-Americans,” “gays,” “women,” and now “whites.”

Obama issues a new initiative—and the nation snoozes. He wastes the day on the golf links—and the nation snoozes. He smear his critics, invites a rapper to the White House whose latest album cover has a dead white judge lying in front of the White House—and the nation snoozes. He cozies up to America’s enemies and snubs our friends—and the nation snoozes. For the nth time, he blusters about closing down Guantanamo—and the nation snoozes. He opens the border even wider to welcome in more illegal aliens and future constituents—and the nation snoozes. Lame duckestry means not even being able to wake up your opponents. Continue reading


America’s Economic Freedom Has Rapidly Declined Under Obama

America’s declining score in the index is closely related to rapidly rising government spending, subsidies, and bailouts.

by Anthony B. Kim     •     Daily Signal

obama_frownMillions of people around the world are emerging from poverty thanks to rising economic freedom. But by sharp contrast, America’s economic freedom has been on a declining path over the past decade.

According to the 2016 Index of Economic Freedom, an annual publication by The Heritage Foundation, America’s economic freedom has tumbled. With losses of economic freedom in eight of the past nine years, the U.S. has tied its worst score ever, wiping out a decade of progress.

The U.S. has fallen from the 6th freest economy in the world, when President Barack Obama took office, to 11th place in 2016. America’s declining score in the index is closely related to rapidly rising government spending, subsidies, and bailouts. Continue reading