{"id":439987,"date":"2010-03-17T17:27:08","date_gmt":"2010-03-17T21:27:08","guid":{"rendered":"http:\/\/www.szone.us\/f95\/obamacare-increases-unemployment-insurance-premiums-deficit-debt-41008\/"},"modified":"2010-03-17T17:27:08","modified_gmt":"2010-03-17T21:27:08","slug":"obamacare-increases-unemployment-insurance-premiums-deficit-and-debt","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/439987","title":{"rendered":"Obamacare Increases Unemployment, Insurance Premiums, Deficit, and Debt"},"content":{"rendered":"<div>On 03.17.10 06:27 AM posted by Kathryn Nix<\/p>\n<p>President Barack Obama and congressional leaders claim that the Senate health bill, which will likely face a vote in the House by the end of the week, will decrease the deficit and bend the cost curve related to health care spending.* &lt;ahref=&quot;http:\/\/www.heritage.org\/Research\/Reports\/2010\/03\/Mandates-and-Taxes-Reburden-Health-Insurance-Markets&quot;&gt;However, recent analysis by The Heritage Foundation\u0092s Center for Data Analysis (CDA) shows that this is far from true.* Instead, the bill\u0092s mandates and numerous new taxes will have tumultuous effects.* Passing Obamacare will come at the expense of the American people as it would grow the federal debt, increase premiums, and stifle economic growth.<\/p>\n<p>The Senate bill would have disastrous effects on the economy and federal spending.* &lt;ahref=&quot;http:\/\/www.heritage.org\/Research\/Reports\/2010\/03\/Mandates-and-Taxes-Reburden-Health-Insurance-Markets&quot;&gt;CDA shows that the bill:<\/p>\n<ul>\n<li><b>Increases the federal deficit and      national debt. <\/b>The      Congressional Budget Office shows deficit neutrality for the Senate      bill\u0097however, this is based on static analysis which ignores the effects      new taxes and an individual and employer mandate would have on economic growth.* These provisions would decrease      investment in the economy, resulting in lower wages and salaries.* This means less taxable income, lowering      federal revenues and growing the debt. Increased borrowing puts upward      pressure on interest rates causing some private sector productive      investment opportunities to be foregone.* This also increases the interest owed      on the national debt, such that the government would pay, on average, $20      billion more in interest between 2010 and 2020.* By the end of the decade, CDA estimates the      publicly held debt would be $755 billion dollars more than under current      law.&lt;spanid=&quot;more-29018&quot;&gt;&lt;\/span&gt;<\/li>\n<\/ul>\n<p>&lt;ahref=&quot;http:\/\/blog.heritage.org\/wp-content\/uploads\/SenateBill.gif&quot;&gt;<img decoding=\"async\" src=\"http:\/\/blog.heritage.org\/wp-content\/uploads\/SenateBill.gif\" border=\"0\" alt=\"\" \/><\/p>\n<ul>\n<li><b>Increases insurance premiums.<\/b> Mandates in the Senate bill would      require health plans to offer more generous coverage, increasing the cost      of insurance.* Increased spending on      premiums, accompanied by increased medical spending, would create upward      pressure on prices.* This would      further increase government spending, since offering the current levels of      care covered by Medicaid and the proposed subsidies would cost      significantly more.* Another choice      would be to ration provider payments even more severely.<\/li>\n<\/ul>\n<ul>\n<li><b>Increases unemployment. <\/b>The bill also places new taxes on      \u0093the rich\u0094\u0097or, in more realistic terms, small businesses and those who      create jobs.* CDA\u0092s dynamic analysis      of the bill shows that an average 690,000 jobs per year would be lost due      to the effects described above.<\/li>\n<\/ul>\n<p>Americans have recently voiced that Congress\u0092 top legislative priority should be restoring jobs and the economy.* Instead, congressional leaders have focused their agenda on passing the Senate health care bill, which would have the opposite effect of killing jobs growth, suppressing economic growth, and adding to the nation\u0092s already unsustainable levels of federal spending.<\/p>\n<p><a href=\"http:\/\/blog.heritage.org\/2010\/03\/17\/obamacare-increases-unemployment-insurance-premiums-deficit-and-debt\/\" >http:\/\/blog.heritage.org\/2010\/03\/17\/&#8230;icit-and-debt\/<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>On 03.17.10 06:27 AM posted by Kathryn Nix President Barack Obama and congressional leaders claim that the Senate health bill, which will likely face a vote in the House by the end of the week, will decrease the deficit and bend the cost curve related to health care spending.* &lt;ahref=&quot;http:\/\/www.heritage.org\/Research\/Reports\/2010\/03\/Mandates-and-Taxes-Reburden-Health-Insurance-Markets&quot;&gt;However, recent analysis by The Heritage [&hellip;]<\/p>\n","protected":false},"author":4292,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-439987","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/439987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4292"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=439987"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/439987\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=439987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=439987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=439987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}