Obamacare and Jobs — or Why America Is NOT “Doing Just Fine”
Speaking on the Senate floor during his open, Senator Reid claimed that “It’s very clear that private sector jobs have been doing just fine; it’s the public sector jobs where we’ve lost huge numbers.”
Unfortunately, private sector jobs have NOT been doing just fine – employment numbers haven’t even kept up with population growth – and Obamacare is one of the major reasons. Analysts at UBS have stated that Obamacare is “arguably the biggest impediment to hiring, particularly hiring of less skilled workers,” and that the law “has the added drawback of straining state and federal budgets,” leading to the public sector job losses Sen. Reid talked about. And the President of the Federal Reserve Bank of Atlanta has said that he has “frequently heard strong comments to the effect of ‘my company won’t hire a single additional worker until we know what health insurance costs are going to be.’”
Government intervention in the form of Obamacare is one of the reasons private sector firms haven’t been hiring. So why does Senator Reid think that yet more government intervention – this in the form of new “stimulus” spending, coupled with a tax on job creators – will do anything different?