President Obama and the Democrats are directly responsible for the state of this lousy economy passing ObamaCare. Sadly, the current GOP leadership is too timid to tell it like it is.
Thankfully an important colum appeared in the New York Post than explains what’s happening.
Grace Marie Turner
In the early months of 2010, the economy was starting to show signs of life after the recession. Then Congress passed the president’s health-overhaul law.
Debate over the ObamaCare law’s potential impact on hiring and the economy has been fierce from the start. The president promised it would be a boon to both; then-Speaker Nancy Pelosi said the law would create 400,000 jobs “almost immediately.” Others argued the law would make businesses much less likely to hire new workers.
That debate should now be over.
The Heritage Foundation’s James Sherk recently released a paper comparing the rate of net job growth before and after the passage of ObamaCare in March 2010. The findings show that job creation came to a screeching halt at the time ObamaCare was enacted
The low point of the recession came in January 2009, when US employers shed 841,000 jobs in just that one month. But the economy slowly started to recover over the next 15 months; private employers began hiring workers at an average rate of 67,600 per month (net of layoffs). The economy’s high point came with the April 2010 report, when 229,000 jobs were added.
But ObamaCare was signed into law in late March, and the hiring freeze began. In the following months, the economy added an average of just 6,500 jobs per month (net of layoffs) -- less than a tenth the pre-ObamaCare average.
This doesn’t prove that the health law is a major cause of the problem. But there is no question that the jobs recovery stalled after ObamaCare passed.
A new jobs report is due out tomorrow, but yesterday’s preliminary estimates from the payroll company Automatic Data Processing are that the number of new jobs created last month fell far short of what’s needed just to keep up with number of new people entering the workforce.
And there’s good reason to believe that the health law is a major contributor to the hiring halt.
In a recent US Chamber of Commerce study, 33 percent of business owners cited Obama--Care as either the biggest or second-biggest reason they’re not hiring new workers.
More here
Yeah, Joe, it’s a big fucking deal that’s continuing to kill the economy.
