Obamacare Is Killing the Economy

on July 22, 2011 at 7:21 AM

obama care A new report out from the Heritage Foundation reveals a not-so-startling correlation between Obamacare and the halted economic growth we’ve seen over the last year. Heritage points out that the economy was recovering after the recession, right up until the spring of 2010.

When Obamacare was passed and signed into law.

Instead of the predicted Recovery Summer, we saw unemployment reach historic heights. It turns out that the best way to ensure that employers won’t hire any new employees is to burden them with taxes and fees and mandates and make sure they have no idea how the sweeping legislation will affect their bottom line.

Businesses like Starbucks and IHOP have said they are hesitant to expand operations due to the current climate of economic uncertainty. Home Depot co-founder Bernie Marcus goes as far as to say Obama is ‘choking the economy.’

The slowdown in economic recovery correlates exactly to the time-frame that Obamacare was made law. Before April 2010, 67,600 jobs a month were being created. After that month, growth slowed to 6,400 jobs created a month. A full third of small businesses say that Obamacare is their number one obstacle in hiring new people.

The only way to grow our economy is to cut taxes and regulations and let businesses get back to doing business without worrying that the government will come in and demand that they shut down because they may or may not have violated a contract with a union by expanding in a right-to-work state. That actually happened to Boeing, by the way.

The entitlements are too much. You can only ask the rich to sacrifice so much before they decide it’s not worth it and they take their toys and go to China. “The problem with socialism,” as the highly quotable Margret Thatcher said, “is that you eventually run out of other people’s money.”

Image via Fibonacci Blue/Flickr

Filed Under: 2010, barack obama, corporations, in the news, law, politics, taxes

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Comments (28)

hoticedcoffee

on Jul 22, 2011 at 7:57 AM

You know, I really hope people who still support Obama because they get all their info from the I Heart Obama news outlets will start to see what's right in front of their faces instead of what some talking head reports on the TV screen. This country is in a dire position right now. We are about to go over a cliff, and not only is Obama not doing what's necessary to halt that, he seems hell-bent on pushing us right to the edge. People can blame whomever they want on the current situation, but the fact of the matter is, the man in charge RIGHT NOW is making things far worse than they were when he took office. I do indeed hope when we is defeated in 2012, the very first thing that happens is Obamacare repeal - America needs that noose off its neck.

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RhondaVeggie

on Jul 22, 2011 at 8:04 AM

You mean rich people want to keep all their money locked up instead of doing the right thing? Republicans hate the idea of equality? Right wing nutters think that poor people shouldn't have healthcare but rather die and decrease the surplus population?

None of that is news. It's not even much of an op-Ed because we've all heard the same tired drivel from Faux news.

Nonmember comment from Glenn

on Jul 22, 2011 at 8:12 AM

One thing (Obamacare) didn't cause all of this. A series of unfortunate events before the Obama administration led to this such as the housing and auto industy bubbles bursting, Bush's tax cuts, the multiple war fronts, etc. The president is the most influential office in the US but it has its limits. he is the man in charge BUT the power of the purse (bugets, funding, and spending) lies with congress. The blame and the fault lie with those elected officials that cannot compromise to get the job done. Peeple that blame one man and one cause for the current state of the nation need to get their stories straight and stop looking like idiots!

on Jul 22, 2011 at 8:14 AM

No, I mean "rich" people who can't make sound business decisions because of uncertainty in the economy. Republicans who know the "rich" can't be responsible for millions of capable people not contributing and waiting for their government check to roll in. Left wing nutters whose voter base depends on people being incapable of taking care of themselves because they've been dependent on the government for generations.

You got one thing right - it''s not news - it's been going on for decades - entitlements just getting more and more out of control and Liberals just stomping their feet because The Rich won't take care of everyone. People with their heads that far up their own Liberal asses obviously don't hear much of anything beyond the voices in their heads.

Facebook comment from Janette Chaviano Alonso

on Jul 22, 2011 at 8:28 AM

Here is my question....I by no means am rich but if I make the right moves and work hard I could very well be one day. Just like anyone else in the USA. That's the beauty of the USA. Some people are born with a silver spoon and they got lucky but someone before them worked hard to make it happen. So why oh why is it that people feel like "The Rich" have to support and do the right thing for everyone else.

Rhonda- I'm calling you out. What is the right thing? They need to pay more taxes cause they managed to make something of themselves? They need to pay more taxes because you need help staying home?

Fancy-Schmancy

on Jul 22, 2011 at 8:43 AM

Janette -- The dice are now loaded against ordinary people who just work hard. A very small percentage of the population has locked up 90% of the assets. This is an inequality that divides us into lords and serfs grateful for any job no matter how bad. Vote according to the economic situtation you are in now...not where you think you could be after 30 years of 'hard work' or if you win the lottery.

The Republicans would like to keep things status quo. The Democrats would like things to be a bit more even -- and not gut the public services that help keep things level. For instance, a key to success in later life is going to college. If public colleges are no longer supported by public funding (and the budgets are being sliced right now), fewer poorer children will be able to go which means more poor adults down the road. Same thing with health care. If you are sick and cannot afford to get better, it is a roadblock to your future earnings. Obamacare is about giving you improved access to care, even if you can't afford it yourself. You must know people who put off going to the doctor or the dentist because they don't have the budget for it right now. When you feel well, you work harder, can put more money away in investments, and create a secure life.

Democrats want all boats to rise -- Republicans want to tell you that your end of the boat is sinking and it's your own fault, while hiding the drill behind their backs.

Nonmember comment from ashley

on Jul 22, 2011 at 8:44 AM

i SERIOUSLY hope you dont mean cut taxes for businesses and the rich? seriously?? PLEASE NAME ONE TIME THAT HAS HELPED? WHOEVER WOULD WANT TO TAKE HEALTH FROM THE SICK AND SUPPORT FROM THE ELDERLY AND THEN GIVE IT TO THE RICH IS SELFISH OR STUPID OR BOTH. period.

Justamom283

on Jul 22, 2011 at 9:15 AM

Thank you Fancy Schmancy.

Nonmember comment from Madison

on Jul 22, 2011 at 10:00 AM

I think it's totally fair to work hard everyday. Start a business and provide jobs for 100 or so people and then give my money to people who for whatever reason want to sit home is so fair. Why should I keep all the money I earned myself? While we're at it, I think we should provide their healthcare too. Poor little stay at home welfare bums! I should give it to someone poorer than I. Yep. That's become the American way. Obama has to go. This isn't Bush's fault anymore. The blame game has to stop and Boeing should be an excellent example of what happens when you push too hard to tax the rich. They take their companies elsewhere. I'm not rich by any means but I'm comfortable and you know what?? I DID IT ON MY OWN!!! I didn't sit in my house on my rear end and wait for a "poor me" handout. Maybe that's what everyone should do instead of making a bunch of excuses about the "rich." Everyone is rich to someone who's lazy and won't get off their butt to work and make their life better.

on Jul 22, 2011 at 10:11 AM

Democrats want all boats to rise -- Republicans want to tell you that your end of the boat is sinking and it's your own fault, while hiding the drill behind their backs...Fancy Shmancy

BS. Democrats want all boats to be "even" and "fair" and "easy". That's all warm and fuzzy for the folks in Lalaland and kids in preschool, but it's unrealistic and unattainable in a modern society. There are plenty of folks who are pretty happy with a low boat - they live simply, work low-end jobs they enjoy, and live within their means. There are plenty of people who don't want a low boat, so they set out to better themselves with hard work and perseverence. And there are also plenty of people who aren't happy with their low boat, but are too lazy, unskilled, unreliable or unlikable to do anything about it except bitch and collect their monthly hand-out.

There's no such thing as an even playing field. Propping someone up so they can live up to your expectations doesn't help them unless they were capable of getting there on their own merit, because they won't succeed. Not acheiving greatness doesn't equal failure.