Wrong Again: Dems Admit New Health Care Law Hurts Employers, Jobs

March: More Than 130 Economists Warned That ObamaCare Would Make It Harder to Put People Back to Work
By House GOP Leader John Boehner: Washington - It’s yet another blow to Washington Democrats’ credibility: just days after an Obama Administration report revealed that the new health care law will increase costs, Washington Democrats are now admitting that their trillion-dollar government takeover will hurt the nation’s employers, too.

This marks a major reversal for Washington Democrats, who attempted to intimidate employers and haul them in for questioning for alerting their shareholders and the public to the impact of the new law’s job-killing tax hikes.  But Energy and Commerce Committee Chairman Henry Waxman (D-CA) backtracked and canceled the hearings when it became clear he couldn’t bully these employers into staying quiet; now his own experts have conceded that the companies “acted properly.”

Last December, President Obama laid out a clear benchmark for health care reform by describing his plan as a jobs program, calling it “part and parcel with where we need to take our economy.” In March, however, more than 130 economists warned President Obama and Congress that the new health care law would make it even harder to put people back to work.  Unfortunately for struggling families and small businesses, President Obama ignored the economists, just as he ignored the will of the American people.

Republicans are committed to repealing this job-killing health care law and replacing it with common-sense reforms focused on lowering costs and protecting American jobs. This, not permanent bailouts for Wall Street, should be Congress’s highest priority.

Today’s New York Times reports that Democrats have reversed course and admitted that their new health care law will hurt the nation’s employers:

“When major companies declared that a provision of the new health care law would hurt earnings, Democrats were skeptical. But after investigating, House Democrats have concluded that the companies were right to tell investors and the government about the expected adverse effects of the law on their financial results. …

“The White House suggested that companies were exaggerating the effects of the tax change. The commerce secretary, Gary F. Locke, said the companies were being ‘premature and irresponsible’ in taking such write-downs. …

“In a memorandum summarizing its investigation, the Democratic staff of the committee said, ‘The companies acted properly and in accordance with accounting standards in submitting filings to the S.E.C. in March and April.’”

ObamaCare fallout continues around the country, including unhappy small owners in Wisconsin and “sticker shock” premiums for young adults in Arizona:

Buffalo News: “Health costs to rise. As more information emerges on the recent health care reform legislation, it is not surprising that analysts now believe it will cost more than people were told.... Without cost controls, reform can’t achieve the necessary and crucial long-term goals of providing affordable, high-quality health care to all Americans. Congress and the administration need to monitor the implementation of this law, misnamed the Affordable Health Care Act, and make changes as they are called for. ... But failure to curb those costs and pay for the expansion of care makes it even more likely that this year's legislation will lead to very serious consequences for everyone.” (Editorial, 4/26/10)

WLUK-TV, Appleton, WI: “Small businesses unhappy with health care law, insurance costs. … Allison Blackmer is co-owner of a small computer software business in Appleton and has eight employees. She’s expecting a premium increase of up to 20 percent. … But the more Blackmer learns about the new health care insurance law, the more she gets angry. ‘I am so sick of hearing that word transparent. This health care bill was not transparent,’ Blackmer blasted at Congressman Steve Kagen during a gathering of small business owners designed to highlight the benefits of the law. ‘Premiums are going up this year you didn't fix a thing,’ she told the Congressman. In meeting with small business owners Kagen is finding some resistance to the new law.” (4/26/10)

The Arizona Republic: “Young adults likely will face sticker shock when mandatory health insurance becomes law. ... Blue Cross Blue Shield of Arizona, Arizona's largest health insurer based on revenue, predicts that health insurance for adults in their 20s could increase 30 percent or more once reform starts. Other health consultants and industry groups also predict price spikes for young adults.” (4/25/10)

Tags: Health Care Law, Hurts Employers, Lost Jobs, John Boehner, US House To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!